Organic Food Market to Grow at CAGR 14% Until 2021
Growing awareness among consumers about health benefits of consuming organically produced food drives upward trajectory
According to TechSci Research report, "Global Organic Food Market By Product Type, By Region, Competition Forecast and Opportunities, 2011 - 2021", global organic food market is projected to grow at a CAGR of over 14%, during 2016-2021, on account of rising disposable income coupled with growing awareness among consumers about health benefits of consuming organically produced food. Additionally, rising internet penetration, aggressive marketing strategies by major companies and easy availability of these food products on the back of robust distribution network are projected to boost sales of organic food across the globe. In 2016, about 43.7 million hectares of agricultural land was under organic cultivation, which was managed by over 2.3 million producers across the globe. Moreover, leading players operating in global organic food market are offering these products in environment friendly packaging to lure consumers.
North America and Europe dominated global organic food market and accounted for a cumulative revenue share of around 80% in 2015.These regions are expected to generate significant demand for organic food products through 2021, due to rising disposable income levels and well developed distribution network to ensure availability of a wide variety of organic food products. Additionally, organic fruit & vegetables dominated global organic food market in 2015, as these products are cultivated without the use of chemical fertilizers and pesticides. However, demand for organic processed food is anticipated to grow at a robust pace during the forecast period,on account of changing lifestyles, rising working women population base and scarcity of time.White Wave Foods, Hain Celestial, General Mills, UNFI, Sprouts Farmers Market and Edeka Group arefew of the major players operating in the global organic food market.
"Increasing average household annual spending on food, rising awareness about health benefits associated with organic foods, greater accessibility of these products through small to medium scale retailers, continuous development in supply chain network and implementation of initiatives to encourage farmers to switch to organic farming are projected to fuel organic food sales across the globe. Additionally, a number of organic food manufacturers are also complying with international standards and are labelling their products accordingly in order to increase acceptability of these products across the globe." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Global Organic Food Market By Product Type, By Region, Competition Forecast and Opportunities, 2011 - 2021” has evaluated future growth potential of global organic food market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities present in global organic food market.
North America and Europe dominated global organic food market and accounted for a cumulative revenue share of around 80% in 2015.These regions are expected to generate significant demand for organic food products through 2021, due to rising disposable income levels and well developed distribution network to ensure availability of a wide variety of organic food products. Additionally, organic fruit & vegetables dominated global organic food market in 2015, as these products are cultivated without the use of chemical fertilizers and pesticides. However, demand for organic processed food is anticipated to grow at a robust pace during the forecast period,on account of changing lifestyles, rising working women population base and scarcity of time.White Wave Foods, Hain Celestial, General Mills, UNFI, Sprouts Farmers Market and Edeka Group arefew of the major players operating in the global organic food market.
"Increasing average household annual spending on food, rising awareness about health benefits associated with organic foods, greater accessibility of these products through small to medium scale retailers, continuous development in supply chain network and implementation of initiatives to encourage farmers to switch to organic farming are projected to fuel organic food sales across the globe. Additionally, a number of organic food manufacturers are also complying with international standards and are labelling their products accordingly in order to increase acceptability of these products across the globe." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Global Organic Food Market By Product Type, By Region, Competition Forecast and Opportunities, 2011 - 2021” has evaluated future growth potential of global organic food market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities present in global organic food market.
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