Organic Food and Beverages Market is Generating Revenue of $327,600 Million by 2022, at CAGR 16.4% Growth Rate
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Organic foods and beverages offer ample advantages over conventional foods such as health benefits, free of harmful chemicals, and others. The global market is poised to witness significant growth during the forecast period, owing to increase in income levels, rise in awareness regarding advantages of organic products, and advancements in organic farming techniques.
The demand for organic food and beverages is anticipated to increase by three-folds by 2022 as compared to that in 2015. In addition, factors such as heavy investment and supportive investment policies by government organization for organic farming provide lucrative opportunities to market players. However, high price of organic products and low shelf life hamper the market growth.
Though establishment of exclusive diet centers, untapped geographical regions such as India, South Africa which are offering a rising demand, limited shelf life of organic foods pose limitations in the market. However, each factor would have its definite impact on the market during the forecast period.
Organically grown fruits and vegetables have high nutritive value, and are free from pesticides and other chemicals. Furthermore, organic nondairy beverages are in high demand among consumers due to increase in health awareness among consumers. Therefore, this segment accounted for significant share of the global market in 2015, followed by the fruits and vegetables segment. The popularity of organic meat, fish, and poultry has increased among consumers, as these products are free from chemicals and contain less fat and cholesterol. Moreover, the organic baby food segment is expected to witness huge potential in the near future, as these products are safer than the conventional baby foods.
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Presently, North America and Europe jointly contributed for more than four-fifths share of the global market. The Asia-Pacific region is anticipated to register the highest CAGR of 23% during the forecast period. The organic dairy products market has the highest potential for growth in European countries. The countries in Latin America and the Middle East are projected to exhibit significant growth in the near future.
Top Key Players: The WhiteWave Foods Company, Hain celestial Group, Inc., General Mills Inc. United Natural Foods, Inc., SpartanNash Company, Amy's Kitchen, Inc., Dean Foods Company, Starbucks Corporation, The Kroger Co., and Whole Foods Market Inc.
Organic Food and Beverages Market Key Findings:
o The organic food segment is projected to grow at a significant CAGR of 16.6% from 2016 to 2022.
o Among organic beverages, the nondairy beverages segment is projected to grow rapidly during the forecast period.
o The organic beverages segment accounted for about three-fifths of the global market in 2015.
o The Asia-Pacific region is projected to grow at the highest CAGR of 23% during the forecast period.
o The coffee & tea segment accounted for nearly one-third share of the market in 2015.
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