Farro Market to grow at a CAGR of 11.16% from 2022 to 2027, Driven by the growth of the global organized retail sector - Technavio

NEW YORK, March 13, 2023 /PRNewswire/ -- The global farro market size is estimated to grow by USD 65.18 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of  11.16% during the forecast period. The market share growth of the conventional farro segment will be significant during the forecast period. Due to the rising awareness among consumers about the various health benefits of farro, the demand for conventional farro is expected to increase during the forecast period. Farro provides abundant antioxidants and fiber along with various minerals and vitamins. One of the major factors that drive the market growth of the conventional farro segment is the low price. It can also be attributed to the factor that conventional farro is an essential ingredient in various food and beverages.

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial  - buy the report!

Farro Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on the product (conventional farro and organic farro), distribution channel (offline and online), and geography (Europe, North America, APAC, Middle East and Africa, and South America). 

Geography Overview
By geography, the global farro market is segmented into Europe, North America, APAC, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global farro market.

• Europe is estimated to contribute to 34% of the global farro market growth during the forecast period. The growth in the production of farro in Europe can be attributed to factors such as the growing consumer interest in traditional food grains with high nutritional values and the increasing adoption of agrobiodiversity conservation for cropping systems among farmers. Moreover, with the rise in the sales of agricultural products, online sales of farro have witnessed tremendous growth.

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Farro Market – Market Dynamics
Key factor driving market growth

• The growth of the organized sector globally is driving market growth significantly. 
• In order to generate more sales volume and revenue, vendors continuously focus on strengthening their distribution networks with the help of organized retailing.
• With the increased penetration of supermarkets, hypermarkets, and specialty stores, the organized retail sector has grown significantly.
• Organized retail stores like supermarkets and hypermarkets provide a diverse range of farro-based products and facilitate the purchasing process for consumers.
• Thus, the growth of the organized retail sector is expected to boost the farro market growth during the forecast period.

Leading trends influencing the market 

• The growing prominence of online shopping is considered to be a key trend in the global market during the forecast period. 
• The rapid penetration of smartphones enables consumers to access various regional and international brands selling farro and farro-based products online.
• Consumers can browse through various suggestions about different types of farro and farro-based products that e-commerce sites offer to make their purchase decision. The suggestions are usually based on the quantity, taste, texture, and flavor of the products.
• The various types of e-commerce portals offering farro and farro-based products include pure-play e-commerce as well as brand-owned online formats. The online distribution channels also allow vendors to provide considerable discounts to consumers.
• Competitive prices and quick delivery services are major factors shaping the market's growth through online distribution channels.

Major challenges hindering the market growth

• The availability of substitute products is a primary challenge that may impede market growth during the forecast period. 
• Farro substitutes like quinoa, teff, barley, Kamut flour, and amaranth flour are available in both conventional and organic forms. They offer similar types of nutritional values.
• These substitute products experience a huge demand in the food and beverage industry due to their easy availability and lower price compared to farro. 
• Various food and beverage vendors offer products with farro substitutes. For example, companies like The Kellogg Co. (Kellogg) offer Kellogg's Muesli Fruit and Nut in the Indian market, which consists of wheat, corn, and barley as its essential nutritional ingredients. 
• Hence, the increasing consumption of farro substitute products in the food and beverage industry may impede the growth of the global farro market during the forecast period.

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What are the key data covered in this Farro Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the farro market between 2023 and 2027
• Precise estimation of the farro market size and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the farro market across Europe, North America, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of vendors in the farro market

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Distribution Channel

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 104: Overview on factors of disruption

12 Vendor Analysis

13 Appendix

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SOURCE Technavio