Seattle, Jan. 25, 2019 (GLOBE NEWSWIRE) -- The global organic farming market accounted for 50.9 million hectares of organic agricultural farmland in 2015 and is expected to expand at a growth rate of 8.4% by 2026 during the forecast period (2018-2026).
Organic farming is a production system, which avoids or excludes the use of the synthetic inputs such as fertilizers, pesticides, feed additives, and hormones, while extensively relying upon animal manures, crop rotation, crop residues, and off farm organic waste. Organic farming provides healthy soil, healthy food, healthy plants, and organic environment. Various certified organization such as United States Department of Agriculture (USDA) have established criteria for inputs for organic farming that ascertains it to produce only organic food. In pure organic farming, the farmer uses only organic manures and pesticides.
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Key Trends and Analysis of the Organic Farming Market:
Increasing demand for organic food is one of the factors driving growth of the organic farming market across the globe. Consumer preference for organic food is growing due to its health benefits and advantages such as nutritional, poison free, and tasty food. For instance, according to Research Institute of Organic Agriculture, the global organic food market was valued at US$ 81.6 billion in 2015. The nutritional value of organic food is high due to high content of vitamin and mineral. Organic farming increase long-term soil fertility, and controls pest and disease without harming the environment.
However, high production cost of organic farming hampers the growth of the global organic farming market. Organic farming requires a large number of labor or manpower to maintain the works associated with it to increase crop productivity and maintain production cost.
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Key Market Takeaways:
- The global organic farming market is expected to exhibit a CAGR of 8.4 % during the forecast period (2018–2026).
- Europe is expected to show a significant market growth and accounted for 25% share of the global organic farming market in 2017, owing to growing organic agricultural land in this region. According to FiBL, in 2007, the organic agricultural land was 6.9mio ha and reached up to 12.7 mio ha in 2015. The Rural Development Policy in Europe, supports the sustainable development of organic farming and development of rural areas. Also, the European Innovation partnership (EIP) and the future agricultural research supported by the Horizon 2020 program for investment in research and innovation will also support organic farming growth in Europe. Such policies are further driving the market growth over the forecast period.
- Some of the major players operating in the global organic farming market include Picks Organic Farm, Indian Organic Farmers Producer Company (IOFPC), Organic Farmers Co., Bayer AG, Camson Bio Technologies Limited, ZUWA Organic Farms Pvt. Ltd.
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