Global Organic Food Market to be Valued USD368.94 Billion by 2026
Increasing health awareness and shifting consumer preference towards
healthy and sustainable food options is expected to drive the growth of the global
organic food market.
According
to TechSci Research report, “Global
Organic Food Market By Product Type (Organic Meat, Poultry & Dairy; Organic Fruits &
Vegetables; Organic Processed Food; Organic Bread & Bakery; Organic
Beverages; Organic Processed
Food and Others), By Distribution
Channel Type (Hypermarket/Supermarket, Speciality Stores, Dependent Stores, Online
and Others(Spices, Pulses, Cereals & Food Grains etc.), By Region,
Competition, Forecast Opportunities, 2026F”, the
global organic food market was valued at USD167.85 billion in 2020 and is expected to reach USD368.94 billion by
2026 with a CAGR of 14.52% during forecast period. Organic foods are
composed of the natural and organic ingredients that are cultivated as per the standards
of organic farming. They do not contain any artificial preservatives to sustain
a longer interval of time. There are countless benefits of consuming organic food
due to this there was increase in the demand of organic food during pandemic because
organic food helps in developing immune system which helps bodies to fight against diseases.
People have understood the importance of consuming healthy food and organic
foods have another advantage of ecological balance. Since organic farming works to
create a positive effect on our ecosystem so that the foods we eat have a good
effect on the body. Organic farming is largely based on a two formula; first,
it helps in maintaining soil fertility and second is also useful for the prevention
of pests. With the help of organic farming, we not only get healthy foods but
also get rid of environmental problems like water pollution and topsoil degradation. However, in most developing countries, very few consumers purchase these
products due to the fact that organic products are more expensive. This is the
major challenges for organic food market.
The global organic food market is
segmented based on product type, distribution channel, company, and region. In
terms of product type, the market can be segregated into organic meat, poultry &
dairy; organic fruits & vegetables; organic processed food; organic bread
& bakery; organic beverages & others. Out of these, organic fruits
& vegetables registered highest market share among all organic food
products followed by organic
meat, poultry & dairy, organic
processed food, organic bread & bakery, organic
beverages & others whereas organic beverages are the fastest growing in the
organic food market.
In
terms of distribution channel, hypermarket/supermarket is dominating the global
organic food market followed by dependent stores. People in countries such as the United
States, Germany, and France tend to purchase organic food from
hypermarkets/supermarkets because of the availability broader range of items,
while online is the emerging trend in the global organic food market due to the
availability of exclusive offers, subscription packages and heavy discounts.
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In
terms of regional analysis, the market is segment into Asia-Pacific, Europe,
North America South America, Middle East & Africa. North America is dominating the global organic
food market followed by Europe. Today,
Germany is Europe’s largest market for organic food followed by France, Italy, Switzerland,
and Sweden. Asia-Pacific displays the fast increment in CAGR, attributable to
the changing ways of life and increasing disposable income. During 2021-2026,
Asia-Pacific global organic food market is projected to grow at a CAGR of 17.09%.
Increasing knowledge about the medical advantages of organic food combined with
the headway in organic cultivating procedures are foreseen to drive the
interest for natural nourishment and drinks in the locale over the gauge time
frame. The Asian market has a significant amount of imports of processed
organic food and beverages from the developed countries of Europe and North
America. The industrialized and developed countries such as China, Australia,
New Zealand, Japan, Singapore, Hong Kong, and Korea are major markets for
organic foods and beverages in the Asia-Pacific. There is also an increase in
demand for the products in developing countries like India due to awareness
about the benefits of organic food and beverage. Danone S.A., United Natural Foods, Inc., Sprouts Farmers
Market, Inc., General Mills, Inc., Organic Valley., among others are
the major leading players in the market. In addition, continuing product innovations and
aggressive marketing strategies adopted by major players and online retailers are
expected to positively influence the global organic food market during the
forecast period.
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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 are 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 the 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 (Organic Meat, Poultry & Dairy; Organic Fruits & Vegetables;
Organic Processed Food; Organic Bread & Bakery; Organic Beverages; Organic
Processed Food and Others), By
Distribution Channel Type (Hypermarket/Supermarket, Speciality Stores,
Dependent Stores, Online and Others(Spices, Pulses, Cereals & Food Grains
etc.), By Region, Competition, Forecast Opportunities ,2026F”, has evaluated the future growth potential
of organic food in global and provides statistics and information on market
structure, size, share, and future growth. The report is intended 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 present in the global
organic food market.
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