Fruits & Vegetables to Lead Global Organic Food Market through 2024
Rising
geriatric population in developed countries coupled with changing health &
wellness trends to drive global organic food market through 2024
According to TechSci Research
report, “Global Organic
Food Market By Product Type, By Distribution Channel, By Region,
Competition, Forecast & Opportunities, 2024”, the
global organic food market is projected
to grow at a CAGR of over 11% during 2019-2024, on the back of growing consumer
consciousness towards healthy and natural food products coupled with rising
availability of a variety of organic food products to choose from through
retail as well as online channels. Moreover, increasing disposable income
coupled with growing awareness about health benefits of organic food products,
in major developing nations like China and India, is further expected to boost
the organic food market in the coming years.
Browse 87 market data Figures
spread through 200 Pages and an in-depth TOC on "Global Organic Food Market"
https://www.techsciresearch.com/report/organic-food-market/4401.html
Consumers across the globe are becoming increasingly health
conscious, which has resulted in a change in their tastes and preferences. A
growing number of consumers are moving towards consumption of organic food in
place of conventional food, to avoid adverse health effects caused by chemical
preservatives or genetically modified ingredients present in inorganic food.
Moreover, the increasing popularity of organic products has significantly
expanded the availability of organic food across the globe over the last decade.
With organic food becoming easily accessible, global organic food market is
expected to witness robust growth during the forecast period.
In terms of distribution channel, global organic food market
is categorized into store-based retail and non-store-based retail. Store-based
retail accounted for the major share in global organic food market and is
expected to maintain its dominance during the forecast period as well due to
highly developed modern retail stores and well-established distribution channel
in the developed economies. Non-store-based retail is expected to exhibit
higher growth rate owing to growing popularity of the e-commerce market across
geographies. Availability of exclusive offers, a variety of options to choose
from different product categories, subscription packages and heavy discounts on
e-commerce, is further expected to surge the demand for organic food from
non-store-based retail across the globe.
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“Global organic food market is anticipated to register healthy
growth during forecast period. Unlike conventional food, organic food products
are produced without using any kind of pesticides or fertilizers, which results
in high cost of these products. Although high prices of organic food products is
a barrier for consumers, the global organic food manufacturers are working
towards reducing the existing price difference between organic and inorganic
food. Moreover, as demand for organic food products increases, product innovations
and economies of scale would result in reduced cost of production, further
driving consumption of organic food market over the next five years.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global
Organic Food Market By Product Type, By Distribution Channel, By Region,
Competition, Forecast & Opportunities, 2024” has evaluated the future growth
potential of global organic food market and provides statistics and information
on market size, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities in
global organic food market.
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