New York, US, July 28, 2023 (GLOBE NEWSWIRE) -- Organic Foods Market Overview
Market Research Future (MRFR) 's report highlights “Organic Foods Market Information By Product, Distribution Channel, And Region - Forecast till 2032"; the market will achieve USD 535.0 Billion in 2032 at a 12.90% CAGR.
Market Synopsis
In 2022, the market for organic foods was estimated to be worth USD 179.5 billion. It is anticipated that the market for organic foods would increase from USD 202.7 billion in 2023 to USD 535.0 billion by 2032, with a compound annual growth rate (CAGR) of 12.90% over the projection period (2023-2032). The two main factors boosting market expansion are rising non-GMO acceptance and increased consumer awareness of the health benefits of consuming organic products.
One of the key factors driving market expansion is the rising public awareness of the health benefits of eating organic food. Sales of organic foods and beverages are anticipated to rise as a result of the change in customer purchasing behaviour. The market is rising in part because consumers are beginning to favour non-GMO products more and more.
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Report Scope:
| Report Attribute | Details |
| Market Size 2030 | USD 535.0 Billion |
| CAGR | 12.90% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing public awareness of the health advantages of consuming organic food |
Key Companies in the Organic Foods market include –
- Newman’s Own, Inc.
- Whole Foods Market IP. L.P.
- Frito-Lay
- Dole Food Co., Inc.
- The Kroger Co., Inc.
- Clif Bar & Company
- Organic Valley.
- Dean Foods
- Among others.
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Conventional foods provide a number of health risks due to the use of synthetic chemicals in plants and animals, such as pesticides and antibiotics. The rising demand has led to a rise in organic product manufacturing. Approximately 39 million acres, or 16 million hectares, will be managed as organic agricultural land in 2020, according to recent USDA predictions. Government efforts to inform customers about the differences between goods with legitimate labels and those with counterfeit ones have contributed to the sector's expansion. Governments all across the world have also enacted laws that forbid the use of chemicals, pesticides, growth hormones, and other manmade substances.
Sales of organic food surged despite the fact that they are more expensive than non-organic alternatives and that the global GDP decreased by the highest in decades in 2020. The fastest-growing segment of the health and wellness market was packaged organic foods and beverages. When restaurants were closed and eating at home took the place of dining out, customers started changing their eating and drinking habits in 2020. According to the United States Department of Agriculture (USDA), German customers increased their purchases of organic products by 22% during the same time period.
The market for organic components has grown over the past several years as a result of rising consumer demand for better general health and increased knowledge of the harmful effects of synthetic compounds.
Additionally, to encourage organic farming, the Indian government's National Horticulture Mission (NHM) offers incentives to farmers of organic food items. Amounts paid to farmers in India range from Rs. 5.00 lakh for a group of farmers covering 50 hectares of land to Rs. 10,000 per hectare for up to four hectares of land per beneficiary.
When organic products are consumed, the body absorbs more vital minerals. There is a surge in demand for organic food products as they help to deliver a superior flavour, despite the produce's higher sugar content when compared to conventional food products. The fruit items that are organic are more nutrient-dense.
Because they don't contain hydrogenated fat, the consumption of organic food items minimises all heart-related health risks. The organic food products have a higher antioxidant concentration when compared to other food items. Because the placenta can transfer toxic chemicals from the mother to the kid, pregnant women who consume ordinary food products face the danger of injuring their unborn offspring. It could also lead to the infant having future health issues. Additionally, the poisons have been linked to a number of birth defects, including autism. driving the market for organic foods' revenue.
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Segmental Insights
Fruits and vegetables, dairy products, meat, fish, and poultry, frozen foods, and other items are included in the segmentation of the organic foods market depending on product. The segment's revenue share was dominated by the fruits and vegetable market.
Initially gaining traction in industrialised places like North America and Europe, the popularity of organic vegetables has subsequently spread to emerging countries like China and India.
Online and offline sales are included in the segmentation of the organic food market based on distribution channel. In 2022, the offline market segment dominated the organic foods market. These stores provide a broad selection of both imported and local goods. The offline retail sector includes actual stores including hypermarkets/supermarkets, specialty shops, franchisee shops and club shops, to name a few.
Regional Insights
The analysis offers market insights for North America, Europe, Asia-Pacific, and the rest of the world, by region. In 2022, this market was headed by the North American Organic Foods Market (45.80%). This is owing to the products' unique advantages, which include being healthier than conventional food, chemical and residue-free, and eco-friendly. The North American market is expected to be driven in the near future by growing public awareness of the benefits of consuming non-genetically modified or altered products. Additionally, in the North American region, the U.S. organic food market had the biggest market share, while the Canada organic food market had the quickest rate of expansion.
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