Organic Foods Market to Hit USD 366.66 Billion by 2029

Pune, India, Dec. 20, 2022 (GLOBE NEWSWIRE) — The global organic food market size was valued at USD 140.46 billion in 2021 and USD 157.48 billion in 2022. The market is expected to reach USD 366.66 billion by 2029 with a CAGR of 12.83% during the forecast period. Increasing health consciousness in consumers is predicted to boost the demand for the products. Rise in the levels of income allows consumers to buy such products which is set to drive market growth. Celebrity endorsement and fund raising activities are expected to propel the market course. Evolving agriculture farming is expected to facilitate market development for organic foods. Fortune Business Insightsshares this information in its report titled “Organic Foods Market, 2022-2029.

COVID-19 Impact:

Increase in the Retail Sales Supported Market Growth

The outbreak of the COVID-19 pandemic triggered the consciousness of the population for nutrition and health. As organic food products help in boosting consumers’ immunity, individuals were more interested in buying more organic and healthy foods. In April 2020, Abel & Cole Limited, a UK-based retailer, reported nearly 25% increase in food orders under the organic category. The surge in the product was due to enhancements in the supply chain, which increased the demand in various North America and Europe depending on raw materials produced in Asia Pacific and South America.

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List of Key Players Profiled in the Report

  • General Mills Inc. (US)
  • Danone S.A. (France)
  • Dole plc. (Ireland)
  • Organic Valley (US)
  • Organic India Pvt. ltd. (India)
  • Amy’s Kitchen, Inc. (US)
  • Arla Foods Amba (Denmark)
  • Eden Foods Inc (US)
  • Hain Celestial Group, Inc. (US)
  • SunOpta Inc (US)

Report Scope & Segmentation:

Report Coverage Details
Forecast Period 2022-2029
Forecast CAGR 12.83%
2029 Value Projection USD 366.66 Trillion
Base Year 2021
Organic Foods Market Size in 2021 USD 140.46 Billion
Historical Data 2018-2020
No. of Pages 223
Covered Segments By category , By Product Type
Organic Foods Market Growth Drivers Evolving Agriculture Farming to Push the Market Growth
Increasing Number of Product Launches to Expand the Global Organic Foods Market Size

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Segments

Fruits & Vegetables to Lead Due to Increasing Nutritional Values

On the basis of the category, the market is divided into fruits & vegetables, dairy, meat, fish, & poultry, frozen & processed foods, cereals & grains, beverages, and others. Fruits & vegetables segment is anticipated to have the largest part due to its nutritional value and presence of various minerals, vitamins, fibers, and antioxidants.

Unprocessed Foods to Govern the Segment Owing to its Convenience

Based on product type, the market is categorized into processed and unprocessed. Unprocessed organic foods are expected to have a major part owing to their fresh-like appearance and convenience associated with these foods.

Supermarkets/Hypermarkets to Lead the Segment Due to Wide Range of Products

Based on distribution channel, the market is divided into supermarkets/hypermarkets, specialty stores, convenience stores, online retail stores, and others. Supermarkets/hypermarkets segment is expected to have a major part as it offers a wide range of brands and product varieties in a single place.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.

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Drivers and Restrictions

Evolving Farming Practices to Drive Market Development

Increasing and evolving farming practices due to the wide availability of chemical fertilizers and pesticides are anticipated to drive the organic foods market growth. Increasing practices that affect the environment due to the use of hazardous chemicals in agriculture are expected to drive market growth. An emerging trend of organic farming globally increases the product availability and makes it more affordable. An increasing number of product launches by the market players is expected to push market growth.

However, high prices and limited shelf life of the organic foods are expected to impede market growth.

Regional Insights

Europe to Lead Market Share Owing to Increasing Environmental and Animal Concerns

Europe is anticipated to head the organic foods market share due to growing environmental and animal welfare concerns which inspire individuals to consume organic products such as fruits and vegetables. According to AgenceBio, a French Agency for the Development and Promotion of Organic Agriculture stated that in the year 2020, fresh fruits & vegetables was the second leading organic product consumed in France with 17% of organic consumption at home, followed by groceries (31% ).

North America is anticipated to be one of the major regions for this market due to increasing awareness for health amongst consumers and adoption of organic foods. There has been an increasing demand and preference in various countries such as Canada, the US, and Mexico. According to the Organic Trade Association (OTA), the dollar sales growth of organic baby food category in the US was increased by 11%, which was followed by the beverages segment with 8% in 2021.

Competitive Landscape

New Product Offerings by Key Market Players to Set Market Course

Major players in the market have been offering a wide range of product offerings, new product launches, and brand loyalty in developed and developing countries. The entry of new players in the market with innovative products has boosted the market growth. In May 2022, Amul announced that it will add a new organic food product portfolio by launching a range of products such as organic whole wheat atta, moong dal, tur dal, chana dal, and basmati rice.

Key Industry Development

May 2022- Barry Callebaut announced the expansion of its plant-based product portfolio with the addition of dairy-free organic chocolate to serve its consumers across North America. Barry Callebaut is a Belgian-Swiss cocoa processor and chocolate manufacturer.

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Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restrictions
    • Market Opportunities
    • Market Trends
  • Key Insights
    • Overview of Parent Market
    • Industry SWOT Analysis
    • Recent Industry Developments – Policies, Mergers & Acquisitions, and New Product Launches
    • Regulatory Analysis
    • PESTAL Analysis
    • Market Analysis and Insights (in Relation with COVID-19)
      • Impact of COVID-19 on the Market
      • Supply Chain Challenges due to the Pandemic
      • Potential Opportunities Due to COVID-19
  • Global Organic Foods Market Analysis, Insights and Forecast, 2018-2029
    • Key Findings / Summary
    • Market Size Estimates and Forecast
      • By Category (Value)
        • Fruits & vegetables
        • Dairy
        • Meat, fish and poultry
        • Frozen & Processed Foods
        • Cereals & Grains
        • Beverages
        • others
      • By Product Type (Value)
      • By Distribution Channel(Value)
        • Supermarket/hypermarket
        • Specialty Store
        • Convenient Stores
        • Online Retail Stores
        • others
      • By Region (Value)
        • North America
        • Europe
        • Asia-Pacific
        • South-America
        • Middle East & Africa
  • North America Organic Foods Market Analysis, Insights and Forecast, 2018-2029
    • Key Findings / Summary
    • Market Size Estimates and Forecast
      • By Category (Value)
        • Fruits & vegetables
        • Dairy
        • Meat, fish and poultry
        • Frozen & Processed Foods
        • Cereals &Grains
        • Beverages
        • others
      • By Product Type (Value)
      • By Distribution Channel(Value)
        • Supermarket/hypermarket
        • Specialty Store
        • Convenient Stores
        • Online Retail Stores
        • others

TOC Continued…!

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Organic Cocoa Market to Reach USD 942.57 Million by 2028 | Exhibiting a CAGR of 7.42% by 2021-2028

Organic Tea Market Size is Expected to Reach USD 1,918.7 Million by 2027 | Exhibiting a CAGR of 11.2%

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