Organic Food Market in India to Witness CAGR 25% till 2021
Increasing land area under organic
cultivation, rising use of bio fertilizers and implementation of favorable
policies for increasing production of organic products to drive India organic
food market through 2021
According
to TechSci Research report, “India OrganicFood Market By Product Type, Competition Forecast and
Opportunities, 2011 - 2021”,
India organic food market is anticipated to grow at a CAGR of over 25%
during 2016-2021, due to increasing use of synthetic
chemical fertilizers and pesticides in non-organic products that lead to
various health issues such as cancer, obesity and birth defects. Consumers are
opting for organic food products, on account of growing health consciousness.
Moreover, the government is making efforts to increase adoption of organic
food, by the way of launching various policies and expanding land area under
organic cultivation over the next five years.
Organic
pulses and food grains dominated demand for organic food in the country in 2015
and the segment is anticipated to continue dominating the market through 2021. The
westerns states in the country dominated the demand for organic food on account
of high disposable income and changing lifestyle. However, other states in the
country are also anticipated to contribute to the growth of the organic food
market in the country, on account of increasing population of high net worth
individuals which has already crossed 236 thousand in 2015.
Few
of the leading players operating in organic food market in India includes Organic
India, Conscious Food, EcoFarms India, Morarka Organic Foods and Sresta Natural
Bio products.
Figure: India Percentage of
HNWI’s Consuming Organic Food, By City, 2014-2015
Source: ASSOCHAM
“India is a country with high agricultural biodiversity
and favorable agro-climatic conditions, which are conducive for organic
agriculture. A number of farmers are adopting organic agricultural practices in
order to get better monetary yields from their output. Moreover, Indian organic food
manufacturers have been focusing on improving quality of organic food over the
last few years which is anticipated to strengthen consumers’ trust in organic
food products in the country. In addition, the leading players in the market are
also using various media platforms to popularize organic food products in the
country and this is anticipated to propel demand for organic food products in
the coming years.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“India Organic Food Market By
Product Type, Competition Forecast and Opportunities, 2011 - 2021”
has evaluated the future growth potential of India organic food market and
provides statistics and information on market structure, size, share, forecast
and future growth potential of organic food market in India. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment evaluation. Besides, the report also identifies and analyses
emerging trends along with essential drivers, challenges and opportunities in the
India organic food market.
About TechSci Research
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