New York, USA, Nov. 01, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global organic food market is anticipated to garner a revenue of $416,049.7 million and grow at a healthy CAGR of 12.4% during the estimated timeframe from 2019-2026.
As per our analysts, the increasing awareness among the population regarding the multiple benefits of organic food is the vital factor projected to reinforce the market during the analysis time period. Organic food is prepared without using any chemicals, this leads to restricting use of pesticides, preservatives, or fertilizers and saves our environment from air, water, and soil pollution. In addition, the increasing improvised distribution channels and rising income levels of people are some major factors projected to bolster the growth of the market over the forecast period. Besides, online availability of organic food products, increasing preference towards organic food, and emerging smartphone users are further expected to fortify the market over the forecast period. However, the high production cost of organic food because of high labor inputs and great diversity of enterprises may hinder the growth of the organic food market during the analysis period.
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The Segments of the Market
The report has majorly divided the market into two segments based on food type and region.
Food Type: Fruits & Vegetables Sub-segment to be Most Profitable
The fruits & vegetable sub-segment accounted for $63,549.4 million in 2019 and is predicted to grow at a CAGR of 12.1% over the estimated timeframe. This is mainly because organic fruits and vegetable production restricts the use of chemical fertilizers, pesticides, and preservatives. In addition, the increasing inclination of choosing organic food among the population for multiple health benefits is further projected to amplify the organic food market sub-segment during the forecast period.
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Region: North America Region Anticipated to Have Extensive Growth Opportunities
The North America region is estimated to grow at a CAGR of 13.1% and hold the largest market share during the analysis period. This is mainly due to the presence of a large number of retail shops such as Walmart, Costo, and many others in this region. Furthermore, the increasing demand for organic food among the crowd and the presence of several organic food manufactures are the driving factors predicted to boost the growth of the regional market over the analysis timeframe.
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The Key Players of the Market
The prominent key players of the market include
- Newman’s Own, Inc
- Frito-Lay
- Dole Food Co., Inc.
- Organic Valley
- Whole Foods Market IP. L.P.
- The Kroger Co., Inc.
- Dean Foods
- Clif Bar & Company, and many others.
These players are broadly working on various new business tactics and strategies such as merger & acquisition, partnerships & collaboration, and product developments to acquire a leading position in the global industry.
For instance, recently in Jan 2021, L T Foods, an India-based company, which is a leading manufacturer of rice under brand DAAWAT, announced the acquisition of a 30% stake in Leev.nu, with its fellow subsidiary, Nature Bio Foods Limited, which is a pioneer in organic business in India and is also known as a trustworthy and innovative global leader in providing authentic organic food to the worldwide consumers. Leev.nu is a Netherlands-based organic specialty food company that is widely known for its breakfast items like breakfast bars, low sugar products, healthy snacks, and many more healthy food items. This acquisition is aiming to promote and support thousands of organic farmers, enhance sustainable business models, and produce a wide range of organic food items.
In addition, the report also provides several aspects of the market like business and financial performances of key players, SWOT analysis, product portfolio, and some key strategic moves.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
Related Links:
- The Trend for Healthy Eating to Thrust the Organic Food Industry Growth
- Wonderful Health Benefits of Organic Food and Few Tips on Buying
