New York, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Organic Food Global Market Report 2023" - https://www.reportlinker.com/p06284597/?utm_source=GNW
Major players in the organic food market are General Mills Inc., Cargill, Inc., Danone, United Natural Foods Inc. and Amy’s Kitchen.
The global organic food market is expected to grow from $227.19 billion in 2021 to $259.06 billion in 2022 at a compound annual growth rate (CAGR) of 14.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The organic food market is expected to grow to $437.36 billion in 2026 at a CAGR of 14.0%.
The organic food market consists of sales of crackers, processed drinks, and frozen meals.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The organic food market consists of sales of organic food and beverages and related services.The production of organic food involves practises that promote ecological balance and aim to conserve biodiversity.
These food products do not use any food additives or industrial solvents.
North America was the largest region in the organic food market in 2022.Western Europe was the second largest region in the organic food market.
The regions covered in the organic food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The organic food market covered in this report is segmented by product type into organic meat, poultry & dairy, organic fruits & vegetables, organic bread & bakery, organic beverages, organic processed food, and other organic products. It is also segmented by application into conventional retailers, natural sales channels, and others; and by distribution channel into supermarkets/hypermarkets, convenience stores, specialty stores, and online stores.
Increasing health concerns due to growing number of chemical poisoning cases globally is acting as a driver in the organic food market.Consumers are becoming more health-conscious owing to the harmful effects caused by the presence of chemical pesticides in food products.
The toxicity of chemical pesticides in food products can cause cancer, hormone disruption, and birth defects.According to a UN report, around 200,000 people die every year due to the toxic effects of pesticides on food products.
This is causing consumers to shift their focus towards organic food products.
The low shelf life of organic food and beverages compared to conventional foods and beverage products is restraining the organic food market.For instance, in research conducted by MSNBC, it was reported that the shelf life of organic food products tends to be shorter than conventional produce.
Similarly, some researchers found that many organic foods had higher levels of bacteria than conventional products that cause food to spoil.As organic food is not exposed to the same amount of preservatives as conventional food, it tends to be prone to bacteria attacks and has a shorter shelf life.
For example, organic food products like turnip greens, mustard greens, and endive have a very short shelf life with a shrinkage percentage of 50%. Thus, high packaging, logistics, and distribution costs to increase shelf life are limiting the growth of the organic food market.
Companies in the organic food market are focusing on the introduction of new product categories and varieties.Organic food manufacturers are coming up with new and innovative organic food products in the form of ready-to-eat snacks, cookies, organic tea, pulses, spices, edible flowers, frozen waffles, medical plants, herbs, and organic juices.
For example, Lidl, an organic grocery chain, is coming up with 28 new and innovative organic food products to choose from. Similarly, Nestle plans to launch new and innovative organic milk products in India.
The organic food market is regulated by authorities such as the US Food and Drug Administration (FDA) and the European Food Safety Authority (EFSA) to ensure a high quality standard of food products is maintained.For instance, EFSA oversees whether labelling is used to mislead consumer on the nutritive proportions of a product in the EU.
EFSA performs occasional checks on the nutritional value to check whether correct labelling has been used or not. In order to maintain transparency and effectiveness, regulatory authorities have come up with strict food labelling regulations for the organic food market.
The countries covered in the organic food market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The organic food research report is one of a series of new reports that provides organic food statistics, including organic food industry global market size, regional shares, competitors with organic food share, detailed organic food segments, market trends, and opportunities, and any further data you may need to thrive in the organic food industry. This organic food research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06284597/?utm_source=GNW
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