New York, USA, May 11, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global organic food market is anticipated to register a revenue of $416,049.7 million at a CAGR of 12.4%, increasing from $162,036.7 million in 2019. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market from growth factors, challenges, other market dynamics, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Market
The biggest driving factor of the global organic food market is the popularity of organic food among the urban population. Organic food is cultivated without any type of fertilizers. Because of its natural growth process, organic food is full of benefits. Other factors enhancing the growth of the market is the improved distribution channel and supply chain.
The main restraining factor of the organic food market is the expensive cost. The production cost of the organic food is typically higher because of the labor inputs and greater diversity in the production enterprises. This increases the retail price of such foods.
Segments of the Market
The report has divided the market into different segments based on food type, and regional outlook.
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Fruit and Vegetables Segment is Predicted to become the Most Lucrative
By food type, fruits and vegetable sub-segment accounted for $63,549.4 million in 2019 and is predicted to grow at a CAGR of 12.1% during the forecast period. Organic fruits and vegetable production is totally natural. The production process never includes chemical fertilizers, chemical pesticides, or chemical preservatives.
North America is Expected to Earn the Highest Market Share
In 2019, the North America regional market accounted for $59,305.4 million and further predicted to grow at a CAGR of 13.1% in the projected period. The main attributor behind this growth is the increasing demand of organic food among the urban population.
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Key Players of the Market
The report mentions the leading players of the global organic food market. They include
- Dean Foods
- Organic Valley.
- Whole Foods Market IP. L.P.
- Dole Food Co., Inc.
- Newman’s Own, Inc.
- Frito-Lay
- Clif Bar & Company
- The Kroger Co., Inc., among others.
These players are focusing on research and development, product launches, collaborations and partnerships to sustain the growth of the market. For instance, in August 2020, Newman’s Own, the company that makes delicious, high-quality products and gives 100 percent of profits to charity, is uplifting its lineup of quality food products by introducing a new line of dairy-free salad dressings.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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
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