New York, USA, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The organic food and beverage market was estimated at USD 243.62 billion in 2023. The market valuation is expected to be USD 690.92 billion by 2032, registering a staggering CAGR of 12.3% during the forecast period of 2024-2032.
What is Organic Food and Beverage?
Farmers and food manufacturers make organic food and beverages without utilizing synthetic chemicals such as pesticides and man-made fertilizers. They do not use genetically modified ingredients or subject food to irradiation. Animal well-being and ecological renewability are priorities of organic farmers. Contemporary, traditional farming practices involve the intemperate usage of chemicals. Planting only one crop countless times has caused a reduction in soil fertility and an escalation in salinity and blue-green algae in the water course over several years. Organic farmers attempt to decrease injury to the environment by asserting their crops utilizing tangible weed regulation and animal and green manure.
Key Market Stats:
- Organic food and beverage market size was valued at USD 243.62 billion in 2023.
- The market is anticipated to grow from USD 272.95 billion in 2024 to USD 690.92 billion by 2032.
- The market is expected to exhibit a CAGR of 12.3% during the forecast period.
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Major Findings from Report:
- The market for organic food and beverages is expected to increase significantly due to the alterations in consumer buying habits and the growing inclination for non-GMO commodities among consumers.
- The organic food and beverage market segmentation is mainly based on product, distribution channel, and region.
- North America registered as the largest market share.
Organic Food and Beverage Market Drivers and Trends
- Awareness about Environmental Impact: Growing consciousness and worries about environmental influence linked with traditional agricultural implementation bestowing to problems such as soil deterioration, water contamination, and biodiversity loss cause a shift driving the market.
- Growing Consciousness about Enhanced Health: The growing consciousness for organic constituents lately is pushed by consumers' tracking of improved holistic health and escalated consciousness of the unfavorable influence of synthetic constituents. Traditional food causes several health probabilities due to the existence of synthetic chemicals involving pesticides in plants and antibiotics in animals.
- Illegitimate Commodities Labeling: The government endeavors to instruct consumers about differentiating deceitfully labeled commodities from legalized ones that have played a part in the comprehensive advancement of the market. In some regions, governments have furnished directives prohibiting the usage of pesticides, chemicals, growth hormones, and alternate synthetic materials to motivate the rearing of organic commodities, which is pushing the organic food and beverage market demand.
- Liberation from Genetic Modification: Organic animal-based commodities such as meat and chicken warrant liberation from genetic modification. The rise in the demand for organic food is apparent in the ascending sales numbers propelled by consumer's inclination for organic, chemically liberated options.
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Market Challenges:
The demand for organic food and beverage market growth is anticipated to be constrained by surcharged value, hampering universal customers from obtaining a restrictive scale of alternatives in product arrays. Elevated packaging, logistics, and distribution prices targeted at enlarging shelf life additionally create limitations on the market growth.
Industry’s Prominent Players:
- Amy’s Kitchen, Inc.
- Conagra Brands, Inc.
- Dairy Farmers of America, Inc.
- Danone
- Dole Food Company, Inc.
- Eden Foods
- General Mills Inc.
- Gujarat Cooperative Milk Marketing Federation (Amul)
- Hain Celestial
Geographical Landscape:
North America region accounted for the most organic food and beverage market share. This is the result of the obtainability of farmlands beneficial to organic farming in the U.S., Australia, and Argentina have pushed controllers to map out reassuring policies targeted at pushing the production of organic foods.
Moreover, with growing approval of ready-to-eat foods amidst the middle-class population and sizeable millennials in nations such as China, India, and Japan, the Asia Pacific region is anticipated to grow at the quickest rate over the forecast period, with a robust compound annual growth rate (CAGR).
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Market Segmentation:
Organic Food and Beverage Market – Product Based Outlook:
- Organic Beverages
- Organic Beverages
- Non-dairy Beverages
- Coffee & Tea
- Others
- Organic Food
- Frozen & Processed Food
- Dairy Products
- Meat, Fish & Poultry
- Fruits & Vegetables
- Others
Organic Food and Beverage Market - Distribution Channel Based Outlook:
- Specialty Stores
- Online Sales Channel
- Convenience Stores
- Supermarket/Hypermarket
Organic Food and Beverage Market - Region Outlook:
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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