Press release
Ethical Food Global Market Report 2024 To 2033 | Nestlé S.A., PepsiCo, The Kraft Heinz Company, General Mills, Inc., Danone S.A, United Natural Foods
Ethical Food Market Share
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According to The Business Research Company's, The ethical food market size has grown strongly in recent years. It will grow from $125.97 billion in 2023 to $136.6 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increasing in environmental concern, growing demand for fairtrade products and strong economic growth in emerging markets.
The ethical food market size is expected to see strong growth in the next few years. It will grow to $181.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to government initiatives, growing demand for sustainably packaged food and increasing investments. Major trends in the forecast period include focusing on sustainable packaging to reduce the use of plastics, focusing on mergers and acquisitions to strengthen market position, focusing on reducing greenhouse gas emissions and leveraging artificial intelligence to track nutrients, water levels and improve transparency in supply chains.
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Market Drivers and Trends:
The increasing concern about the environment is expected to contribute to a higher demand for ethical food. The recent climate changes and environmental issues such as carbon emission, global warming, plastic, and food waste are forcing companies to concentrate on sustainable products. Rising environmental concerns are shifting companies and shoppers towards ethical or sustainable-certified products. For instance, in November 2021, according to the International Energy Agency, a France-based intergovernmental organization, global CO2 emissions from energy increased by 0.9%, or 321 Mt, in 2022, setting a new record of more than 36.8 Gt. Therefore, the growing impact of food production on the environment and the increasing demand for sustainable food are encouraging companies to focus on sustainable production, which in turn is expected to drive the demand for the ethical food market in the forecast period.
Sustainable packaging is a leading trend adopted by ethical food manufacturers and producers. The companies engaged in organic food production are increasing their focus on sustainable packaging in order to reduce the use of plastics and be environmentally friendly. For instance, Alter Eco uses clean packaging for its produce and the plastic packaging used for outer boxes is recyclable. Following the trend, packaging companies are also coming up with sustainable packing solutions for organic food and other products. For instance, Giro Pack developed compostable welded bags and compostable net-clipped bags that are produced using plant-based or organic materials such as pulp from eucalyptus trees or corn starch. Thus, the focus of ethical food companies on sustainable or green packaging is a major trend shaping the ethical food market over the forthcoming years.
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Major Key Players of the Market:
AECOM, WorleyParsons Limited, SNC-Lavalin, Babcock International, Fluor Corporation, Bechtel Corporation, Kiewit Corporation, WSP Global Inc, John Wood Group PLC, NV5 Global Inc, Arup Group, DNV, SGS S.A, ICS Engineering Services, Engineers India Limited, Laserbond, Cyient, Wipro, Samsung Engineering, Porsche Engineering (Shanghai) Co Ltd, Hyundai Engineering (HEC), UGL, Cybage Software Pvt. Ltd, China Overseas Engineering Group, China Engineering Consultants, Inc. (CECI), China International Engineering Consulting Corporation, SMEC, ALTEN Group, JLL engineering services, Dyson UK, Stork , SNC Lavalin , J. Murphy & Sons Limited , Arcadis, Alstom , Areva, Artelia, llc aecon, 10Clouds, Techno Engineering & Associates, GT Ground Engineering & Construction Services, International Business Machines Corporation, Capgemini, AKTIAS tech , Oracle, Deaton Engineering, Inc, Aricent Group, EPAM Systems, Inc, GlobalLogic, Jensen Hughes, Henderson Engineers, Thermal Specialties, MCW Group of Companies , McElhanney, Quasar Consulting Group, Accenture* SRL, Globant, Cognizant Technology Solutions Corporation, Saudi Engineering Group International (SEGI), HRS Engineering Ltd, Oiltek Engineering Co. Ltd, Mugesan Engineering & Marine Specialist Co. Inc, Al Mostaqbal Consulting Engineering, Aroma International Building Contracting LLC, Al Baha Engineering Consultants , Smartcities Building Contracting LLC, Thelo DB, Dorman Long Engineering Limited, Decagon, Advanced Engineering Consultants (ACE), CDR Engineering Consultancy Nigeria Limited, ILF Engineers Nigeria Limited, Africa Engineering Consulting Services (AECS), Ingplan Consulting Engineers
Ethical Food Market 2024 Key Insights:
• The ethical food market size is expected to see strong growth in the next few years. It will grow to $181.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
• Environmental Imperative Driving The Surge In Demand For Ethical Food
• Unveiling The Ascendance Of Sustainable Packaging In Ethical Food Production
• Asia-Pacific was the largest region in the ethical food market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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