Dublin, Nov. 30, 2023 (GLOBE NEWSWIRE) -- The "Organic Vegetable Farming Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The organic vegetable farming market size has grown steadily in recent years. It will grow from $8.69 billion in 2023 to $9.12 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth observed during the historical period can be attributed to factors such as increased consumer awareness of health and wellness, growing environmental concerns, the influence of government regulations, the availability of organic certification, and support from retailers in promoting organic vegetable farming.
The organic vegetable farming market size is expected to see strong growth in the next few years. It will grow to $11.11 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The anticipated growth in the forecast period can be attributed to the adoption of sustainable agricultural practices and an emphasis on climate change resilience in organic vegetable farming. Significant trends expected in this forecast period encompass continued innovation and technology adoption, the expansion of e-commerce and direct-to-consumer sales channels, an increased focus on supply chain transparency, and a broader diversity in organic vegetable offerings to meet evolving consumer preferences and sustainability goals.
The increasing demand for organic food is expected to be a major driving force behind the growth of the organic vegetable farming market in the foreseeable future. Organic food is known for its health benefits, including high nutritional content, non-GMO characteristics, and the absence of synthetic pesticides and fertilizers. This growing preference for organic food, including organic vegetables, is evident in the organic food sales in the United States, which exceeded $60 billion in 2022, according to data from the Organic Industry Survey released by the U.S-based Organic Trade Association. The positive impact on the health of those involved in organic farming and the increasing consumer preference for organic food are projected to fuel the demand for organic vegetable farming in the coming years.
The expansion of restaurants and food service establishments is anticipated to drive the growth of the organic vegetable farming market. Restaurants and similar food service establishments require a wide variety of vegetables to offer diverse menus to their customers. This demand encourages farmers to cultivate a broader range of organic vegetables, promoting biodiversity and reducing the risks associated with monoculture farming. For example, the number of Mexican restaurant establishments in the U.S. increased by 2.4% from 2022 to 2021, reaching a total of 49,365, as reported by The Chef's Store, a U.S.-based supplier of restaurant equipment and supplies. This trend contributes to the growth of the organic vegetable farming market.
The higher costs associated with organic farming compared to conventional farming are expected to limit the growth of the organic vegetable farming market. The Food and Agriculture Organization (FAO) of the United Nations notes that organic food prices are generally higher than those of conventional products due to increased labor inputs and other expenses associated with higher production quantities to reduce overall costs. Additionally, the use of natural fertilizers and the expenses related to obtaining organic certification contribute to the higher cost of organic vegetable farming. These factors are likely to pose challenges to the growth of the organic vegetable farming market in the forecast period.
Major companies in the organic vegetable farming sector are expanding their product portfolios by introducing innovative organic vegetable seed offerings. These certified organic products are introduced with a focus on high-growth organic markets in countries like Canada, the United States, Mexico, Spain, and Italy, with the potential for further expansion based on market demand. For example, Bayer, a Germany-based biotechnology company, launched its organic vegetable seed offerings as part of the Vegetables by Bayer brand, with an emphasis on certified organic production for key greenhouse and glasshouse crops such as tomato, sweet pepper, and cucumber.
Companies in the organic vegetable farming market are also concentrating on the development of natural fertilizers that are free from chemicals. These natural fertilizers rely on plant, mineral, and animal sources for nutrients and do not contain any chemicals. For instance, Weather Risk Management Services Pvt Ltd (WRMS), an India-based agricultural company, introduced SecuFarm Vermicompost, an organic fertilizer rich in essential plant nutrients, humus, and soil-enhancing properties. It improves soil structure, root development, water retention, and aeration. SecuFarm vermicompost is an environmentally friendly and ecologically compatible product, suitable for seedlings, orchards, and crop production.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
- By Type: Pure Organic Farming; Integrated organic farming
- By Method: Composting; Crop Rotation; Cutting; Mulching; Polyculture; Soil Management; Weed Management
- By Crop: Protected Crops; Salads; Green Veg; Root Crops; Potatoes; Other Crops
Company Profiles
- AeroFarm System
- Agrilution Systems
- N5 Sensors Inc.
- Terramera PlantHealth
- Back to the Roots Inc.
- Vital Farms Inc.
- ISCA Technologies Inc
- MycoSolutions AG
- Atlantica Agricola
- Agroloop
- SunOpta Inc
- Eden Synthetics
- Ductor
- NextProtein
- Midwestern BioAg
- JH Biotech
- Bio Huma Netics
- Ag Concepts Corporation
- Elephant Vert
- Grower's Secret
- Azotic
- ILSA S.p.A
- Picks Organic Farms
- Organic Farmers Co.
- Bayer Ag
- Camson Bio Technologies Limited
- ZUWA Organic Farm
- Entocycle
- UniBio A/S
- Carbon Robotics
- Intrinsyx Bio
- Umgibe Farming Organics
- New Sprout Organic Farms
- Olivette Farm by Joe & Daniel
- A & A Organic Farms
- Earl's Organic Produce
- Smart Agriculture Technologies
- Greentech Kenya Ltd
- Earthbound Farm
- Organic Valley
- Driscoll's
- Cascadian Farm
- WhiteWave Foods
- Nature's Path
- Amy's Kitchen
- Clif Bar & Company
- Lundberg Family Farms
For more information about this report visit https://www.researchandmarkets.com/r/8v1wug
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