Press release
Ethical Food Market is Projected to Reach $684.83 Billion by 2023 | Covid 19 Growth And Change
Ethical Food Market
The global ethical food market is expected to decline from $650.99 billion in 2019 to $568.12 billion in 2020 at a compound annual growth rate (CAGR) of -12.73%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $684.83 billion in 2023 at CAGR of 6.43%.
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The ethical food market consists of sales of ethical food items and related services. Ethical or sustainable food refers to food produced using processes and systems that are non-polluting, economically efficient, conserve non-renewable natural resources and energy, safe for workers, consumers, and communities, and do not compromise on the future generation needs. It uses a method of food production wherein the people (small farmers, producer co-operatives, large estates), the environment (environment sustainability), and animals (concerned with animal rights and welfare) are given considerable importance.
Increasing concern about the environment is expected to contribute to higher demand for ethical food. The recent climate changes and environmental issues such as carbon emission, global warming, plastic, and food waste is forcing companies to concentrate on sustainable products. The rising environmental concerns are shifting companies and shoppers towards ethical/ sustainable-certified products. According to Our World In Data's statistics on environmental impact of food published in January 2020, the food accounts around 26% of the global greenhouse emissions, with half of the world's habitable land used for agriculture and 70% of the freshwater used for agriculture. According to the survey of 1000 adults by International Food Information Council Foundation (IFIC foundation) in 2019, 54% of the consumers responded that the products they buy be produced in an environmentally sustainable way. Therefore, the growing impact of food production on the environment and the growing demand for sustainable food is increasing companies to focus on sustainable production which in turn is expected to the drive the demand for the ethical food market in the forecast period.
Ethical Food Market Segmentation: -
By Type
Organic and Natural
Fairtrade
Free range animal welfare friendly
Environmentally responsible and sustainablly produced
Others
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Few Points From Table Of Content
1. Executive Summary
2. Ethical Food Market Characteristics
3. Ethical Food Market Size And Growth
4. Ethical Food Market Segmentation
5. Ethical Food Market Regional And Country Analysis
......
25. Ethical Food Market Competitive Landscape And Company Profiles
26. Key Mergers And Acquisitions In The Ethical Food Market
27. Ethical Food Market Trends And Strategies
28. Ethical Food Market Future Outlook and Potential Analysis
29. Appendix
The report covers the trends and market dynamics of the Ethical Food Market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the Ethical Food Market are Bimbo Group, Illy, Ingredion, Kellogg's, Mars Incorporated, PepsiCo, Starbucks
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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