US Organic Foods Market poised to Surpass USD45 Billion in 2015
Increasing per capita expenditure, growing health awareness and rising inclination towards chemical and pest-free products to drive US organic foods market
According to recently published report by TechSci Research, “United States Organic Foods Market Forecast and Opportunities, 2020”, the US organic food market is estimated to cross USD45 billion in 2015 on the back of rising per capita expenditure, increasing health consciousness, growing awareness about the benefits of chemical free organic food and rise in organic farming in the US. Strong distribution channels of manufacturers and their tie ups with retailers have added to the accessibility and visibility of various organic food products such as fruits and vegetables, organic dairy products and packaged food in the market.
Availability of organic products is no longer limited to traditional sources but is available in over 20,000 natural food stores and nearly 3 out of 4 grocery stores in the country. Manufacturers are also increasingly collaborating with a number of leading retailers like Walmart, Whole Food, etc. to widen their product distribution and market reach. Besides fruits and vegetables, the demand for organic dairy products has also increased with significant rise in online stores over the last five years. The market is dominated by a number of players including Amy’s Kitchen, Hain Celestial Group and Mondelez.
“The industry is projected to witness increasing number of mergers and acquisitions along with expansion plans of various major players to cater to the exponentially growing demand for organic foods. Moreover, continuing growth in the number of organic food retailers, manufacturers and distributors would push the consumption to higher levels in coming years. The market is anticipated to witness an increase in number of certified organic farms as the demand for premium product ranges is likely to grow in the future.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Organic Foods Market Forecast and Opportunities, 2020” has analyzed the potential of organic food market and provides statistics and information on market sizes, sharesand consumer behavior. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the organic foods industry in the US.