New York, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Organic Farming Global Market Report 2023" - https://www.reportlinker.com/p06282198/?utm_source=GNW
Major players in the organic farming market are Dow Chemical Company, BASF SE, Solvay SA, AkzoNobel N.V, Nalco Holding Company, and Bayer AG.
The global organic farming market will grow from $169.04 billion in 2022 to $187.84 billion in 2023 at a compound annual growth rate (CAGR) of 11.1%. 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, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The organic farming market is expected to grow to $287.83 billion in 2027 at a CAGR of 11.3%.
The organic farming market consists of revenues earned by entities that produce them in organic ways.It is an alternative form of farming for crops and livestock’s produce which does not use pesticides, artificial fertilizers, genetically modified organisms and antibiotics to increase the production.
This has many benefits to the environment and the individuals using these yields.Organic farming includes organic grain farming, organic oilseed farming, organic fruit and nut farming, and organic vegetable farming.
The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Organic farming refers to a farming method that avoids or limits the use of synthetically compounded additives.
The Asia Pacific was the largest region in the organic farming market in 2022.Western Europe was the second largest region in the organic farming market.
The regions covered in the organic farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of organic farming are pure organic farming and integrated organic farming.Integrated organic farming is a zero-waste, cyclical process in which waste products from one operation are recycled into nutrients for other operations.
The various methods include crop diversity, soil management, weed management, and controlling other organisms.
Environmental gain from organic farming is expected to drive the organic farming market.Organic farming is highly beneficial to the environment as it does not use any chemical fertilizers or pesticides that cause soil and groundwater contamination.
The use of non-renewable resources that are needed for the development of such artificial fertilizers is lower.Organic farming preserves the biodiversity of the soil.
For instance, in February 2020, Columbia Climate School, a US-based climate research university, published a report stating that, according to research, compared to conventional farming, organic farming fosters 30% more biodiversity, uses 45% less energy, and emits 40% less carbon.The use of organic products also has a beneficial impact on the health of organic growers, assistants, their families, and customers, as they are less exposed to harmful chemicals.
Therefore, the environmental benefits of organic farming coupled with the health benefits of organic products are increasing the demand for organic food (food produced through the process of organic farming), which in turn is driving the market for organic farming.
The launch of various schemes by the governments of various countries across the world is promoting organic farming.Due to the health benefits and environmental benefits offered by organic products, governments are promoting organic farming activities by launching various schemes and encouraging the population to shift towards organic products.
For instance, the government of India is promoting organic farming under its two dedicated schemes—Paramparagat Krishi Vikas Yojana (PKVY) and Mission Organic Value Chain Development for the North Eastern Region (MOVCDNER).Other schemes for promotion of organic farming include Rashtriya Krishi Vikas Yojana (RKVY), Integrated Development of Horticulture (MIDH), and the Network Project for Organic Farming.
The launch of similar schemes worldwide is likely to provide ample avenues for the organic farming market’s growth shortly.
The lower productivity of organic food is expected to hinder the organic farming market.According to a study by the USDA, the yield of organic farming is significantly lower compared to conventional farming.
So, the latter is preferred to organic farming to ensure food security because organic farming is expected to cause a scarcity due to lower yield.It doesn’t meet the needs of the rising population and, thereby, doesn’t meet the definition of food security set by the Food and Agriculture Organization (FAO) of the United Nations.
The lower productivity of organic farming is expected to hinder the market for organic farming.
In August 2022, The Organic Trade Association, a US-based business association, initiated a new collaboration with Sustainable Food Lab.Through this collaboration, Sustained Food Lab increased the domestic supply of organic grain in the US by more than 100 acres.
Increasing the American organic grain farmer’s output, earnings, and access to markets will bolster the organic grain industry’s resilience. Sustainable Food Lab, a US-based company, promotes sustainability throughout the whole food supply chain, from food production through distribution to retail sales.
The countries covered in the organic farming market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and 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 farming market research report is one of a series of new reports that provides organic farming market statistics, including organic farming industry global market size, regional shares, competitors with an organic farming market share, detailed organic farming market segments, market trends and opportunities, and any further data you may need to thrive in the organic farming industry. This organic farming market 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/p06282198/?utm_source=GNW
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