Organic Food Market to Reach $289.4 Billion by 2030
Added: (Fri Oct 27 2023)
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Meticulous Research®—a leading global market research company, published a research report titled, ‘Organic Food Market by Type (Fruits, Vegetables, Grains, Beverages, Bakery), Distribution Channel (Supermarket, Hypermarkets, E-commerce), Process (Unprocessed, Processed, Ultra-processed), Packaging Type (Fresh, Frozen) - Global Forecast to 2030.’
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According to this latest publication from Meticulous Research®, the global organic food market is projected to reach $289.4 billion by 2030, at a CAGR of 9.5% from 2023 to 2030. The growth of the organic food market is mainly attributed to growing health-conscious consumers, increasing demand for clean-label products, and government and non-government organization support for organic farming. Furthermore, changes in lifestyle and growing disposable income are expected to create market growth opportunities. However, the high price of organic products is expected to hinder the growth of this market to some extent.
The organic food market is segmented by type of fruits and vegetables (bananas, apples, tomatoes, dried onions, and others), dairy (milk, butter, cheese, yogurt, and milk powder), grains (wheat, maize, rice, oats, and others), beverages (tea & coffee, non-dairy, alcoholic beverages, and others), condiments, bakery, snacks, meat, fish & poultry), distribution channel (supermarkets & hypermarkets, convenience stores, specialty stores, e-commerce, and other distribution channels), process (unprocessed, processed, and ultra-processed), packaging type (fresh, frozen, canned, and dried), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at regional and country levels.
Among all the types studied in this report, the fruits and vegetables segment is expected to account for the largest share of the global organic food market in 2023. The large market share of this segment is attributed to the rising health and wellness trends, rising demand for fresh organic products, and growing assortment of organic products through various sales channels. Consumers are increasingly focused on their health and well-being. They perceive organic fruits and vegetables as healthier because they are typically grown without synthetic pesticides, herbicides, and genetically modified organisms (GMOs). Organic farming also tends to prioritize soil health and nutrient-rich crops.
Among all the distribution channels studied in this report, the e-commerce segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the convenience offered by E-commerce, the availability of greater discounts compared to offline stores, the growing preference for personalization, and a greater product selection experience.
Among all the process categories studied in this report, the unprocessed segment is expected to account for the largest share of the organic food market in 2023. The large market share of this segment is attributed to factors such as the increasing vegetarian population, growing demand for organic products with minimal processing, and consumer concern regarding additives in processed food.
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Among all the packaging types studied in this report, the frozen segment is slated to register the highest CAGR during the forecast period. The rapid growth of this segment is attributed to the increasing demand for convenience food, the growing global cold chain, increasing availability, and rising demand from hotels, restaurants, QSRs, and the food service sector.
Among all the regions studied in this report, in 2023, North America is expected to account for the largest share of the organic food market. The large market share of this region is attributed to the growing health & wellness and clean label trends, a well-established food sector, higher adoption of technological advancements in the food & beverage industry, and significant investments in the organic food sector.
The global organic food market is characterized by a moderately competitive scenario due to many large and small-sized global, regional, and local players. The key players operating in the global organic food market are Hain Celestial Group, Inc. (U.S.), General Mills, Inc.(U.S.), United Natural Foods Inc. (U.S.), Nature’s Path Foods, Inc. (Canada), Amy’s Kitchen, Inc. (U.S.), Organic Valley (U.S.), Whole Food Market Co-op (U.S.), Sunopta Inc. (Canada), Eden Foods, Inc. (U.S.), Newman’s Own Foundation (U.S.), Stonyfields Farm, Inc. (U.S.), Danone S.A. (France), Nestle S.A. (Switzerland), Clif Bar & Company (U.S.), and The Kroger Co. (U.S.).
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Key Questions Answered in the Report-
• What is the current value of revenue generated by the global organic food market?
• At what rate is the global organic food demand projected to grow for the next 5–7 years?
• What are the historical market sizes and growth rates of the global organic food market?
• What are the major factors impacting the growth of this market at the global and regional levels? What are the major opportunities for existing players and new entrants in the market?
• Which segments in terms of type, distribution channel, process, and packaging type category create major traction for the manufacturers in this market?
• What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the organic food market?
• Who are the major players in the global organic food market? What are their specific product offerings in this market?
• What are the recent strategic developments in the global organic food market? What are the impacts of these strategic developments on the market?
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