Organic Food Market Size to Grow USD 201700 Million by 2029 at a CAGR of 6.8% | Valuates Reports
BANGALORE, India, Dec. 7, 2023 /PRNewswire/ -- Organic Food Market is Segmented by Type (Fruits and Vegetables, Dairy Products, Meat, Fish and Poultry, Beverages, Frozen and Processed Food, Cereals and Grains, Seasonings, Spices and Dressing), by Application (Organic Retailers, Supermarket and Hypermarket, Online Sales): Global Opportunity Analysis and Industry Forecast, 2023-2029. It is Published in Valuates Reports Under the Category of Food & Grocery Retailers.
The global Organic Food Market is projected to grow from USD 135920 Million in 2023 to USD 201700 Million by 2029, at a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period.
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Major Factors Driving the Growth of the Organic Food Market
A number of factors, including the growing focus placed by consumers on health and well-being, are driving the rise of the organic food sector. Growing consumer knowledge of the connection between health and nutrition has led to a proactive search for organic food items, which are thought to be healthier and devoid of artificial pesticides and genetically modified organisms (GMOs). Concerns about the environment and sustainability are also important, as buyers like goods that come from ethical and environmentally friendly farming methods.
Government rules and certification programs, including USDA Organic and EU Organic, provide customers peace of mind and guarantee the legitimacy of organic products. The industry is growing due in part to the premiumization of organic products, the spread of organic agricultural methods, and an informed customer base.
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TRENDS INFLUENCING THE GROWTH OF THE ORGANIC FOOD MARKET
The market for organic food is expanding because customers are placing more value on health and fitness. Because organic food don't include industrial pesticides, herbicides, or genetically modified organisms (GMOs), people view them as healthier alternatives. Nutrient-dense, chemical-free meals are prioritized by health-conscious customers, which has led to an increase in demand for organic goods.
Customers become more picky about the safety and quality of their food. In response to this issue, the organic food industry offers items made without the use of artificial herbicides and pesticides. The organic food industry has expanded due to customer demand for chemical-free products and more openness in food production.
As people's understanding of environmental concerns has grown, they are prioritizing sustainability while making purchases. Eco-conscious customers favor sustainable agricultural practices that prioritize biodiversity, soil health, and less environmental effects. These practices are aligned with organic farming methods. The market for organic food gains from its standing as a more eco-friendly option.
Tight government rules and certification requirements are major factors pushing the demand for organic food. Customers are reassured of rigorous adherence to organic agricultural practices by certification labels such as USDA Organic and EU Organic. The legitimacy that comes with certificates builds confidence and encourages consumers to choose organic products.
The market for organic food is significantly influenced by a knowledgeable customer base. With knowledge of the possible health advantages of eating organic food and the negative effects of conventional agriculture on the environment, people are choosing to support organic agricultural practices.
The market for organic food has grown internationally, thanks to easier availability through a variety of outlets. E-commerce platforms have been essential in expanding the reach of organic products, enabling customers to effortlessly browse and buy a wide variety of organic choices. The increasing popularity of organic food can be attributed to their accessibility on a worldwide scale.
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ORGANIC FOOD MARKET SHARE ANALYSIS
The participants in the global market for microbial fertilizers (also known as inoculants) are mostly Cargill, Inc., Amy's Kitchen, Danone, Hain Celestial Group, General Mills, Inc., and Nature's Path food.
With a market share of almost 45%, North America is the largest.
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Key Players:
- Danone
- Hain Celestial Group
- General Mills Inc
- Nature's Path Foods
- Amy's Kitchen
- Newman's Own, Inc.
- Cargill Inc
- Organic Valley
- Dole Food Company, Inc.
- Dean Foods
- Amul
- Louis Dreyfus Holding BV
- Arla Foods Inc
- The Hershey Company
- Clif Bar and Company
- Frito Lay
- Everest Organic Home (EOH)
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