Global Organic Food and Beverages Market is Expected to Reach US$ 679.81 Billion by 2027, Says Absolute Markets Insights
Global Organic Food and Beverages Market is Expected to Reach US$ 679.81 Billion by 2027, Growing At An Estimated CAGR of 17.05% Over The Forecast Period, Owing to Growing Awareness about Advantages offered by Organic Foods and Beverages, says Absolute Markets Insights
PUNE, India, Sept. 9, 2019 /PRNewswire/ -- In terms of revenue, the global organic food and beverages market stood at US$ 165.52 Bn in 2018 and is anticipated to reach US$ 679.81 Bn by 2027, expanding at a CAGR of 17.05% during the forecast period.
The organic food and beverages market is expected to gain significant traction owing to growing health awareness offered by these products. Growing concerns about ill-effect of conventional foods, increasing social knowledge and education about organic products have attributed to rising awareness among consumers. Additionally, climate change and food security have grabbed global attention and concerns regarding environment protection, quality of food production and sustainable agriculture have increased manifold. All these factors have collectively attributed to the growth of global organic food and beverages market which is poised for the future growth.
Developing organic value chain, environmentally friendly packaging, and product innovation are observed to be the key differentiators for manufacturers to stay competitive in the market. The presence of nutrients and other essential health promoting ingredients are other main factors contributing to the popularity of organic products. Leading organic food and beverages market participants are analyzing changing food habits, purchasing pattern and tastes among their consumers, and thus focusing on introducing innovative organic food and beverage products in the market. Products such as organic bamboo tea, biological milk and organic soy sauce are among the latest products launched in the organic food and beverages market. Nestle, a multinational food and beverage processing conglomerate, announced in May 2019 about launch of Ceregrow, a ready-to-cook cereals brand for children in India. The company has partnered with farms across different states in India, which are deploying organic practices and showcase substantial potential in terms of necessary expertise. Simultaneously, companies are also undertaking strategic initiatives to expand and strengthen their regional presence in the organic food industry. For instance, in December 2018, United States based beverage company, Life In Earth Inc. acquired organic fruits producer, Wild Poppy Company Inc. This acquisition was aimed at enhancing the organic product portfolio of the company.
Organic food and beverages market products are subjected to stringent regulations and certification. Various certification bodies such as International Federation of Organic Agriculture Movements (IFOAM), United States Department of Agriculture (USDA), and several local and third-party certification providers are ensuring safe practices to be followed in production and distribution of organic products. Sales of organic foods and beverages without certified label is prohibited across various countries, which results in decline in sales of counterfeit products sales. Moreover, stringent regulations have also helped in establishing trust between customers and brands. Thereby fueling the growth of organic food and beverages market.
Organic sector growth is inevitable and it is undergoing through tectonic shift with changing definition, certification requirements, and with new customers being added to the fold rapidly. Though, organic foods and beverages are costly yet consumers are willing to pay higher price as health and quality of foods are becoming priority. Increased focus on promoting sustainable farming and standardization of organic products are expected to pave the way in terms of democratizing the organic food and beverages market.
The detailed research study provides qualitative and quantitative analysis of the global organic food and beverages market. The organic food and beverages market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
· In terms of revenue, global organic food and beverages market is expected to reach US$ 679.81 Billion by 2027 owing to growing awareness about health benefits offered by these products, increasing health hazards caused by consumption of conventional foods and government support to promote organic farming.
· The sale of organic food and beverages is expected to be largely directed through online mode of distribution channel over the forecast period. The same is being largely contributed by the changing purchasing behavior among consumers.
· U.S. is expected to account for largest market share occupying close to 70% of North America organic food and beverages market.
· Some of the leading players operating in the organic food & beverages market are the Amy's Kitchen, Inc., Cargill, Incorporated, ConAgra Brand, Inc., Dole Food Company Inc., SpartanNash Company, The J.M. Smucker Company, The Kraft Heinz Company, The Kroger Co, Whole Foods Market IP. L.P, Dole Food Company, The Hain Celestial Group, Inc., and General Mills Inc, among others
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