Organic Food Market Size to Hit Around USD 497.3 Billion by 2030

·7 min read
Precedence Research
Precedence Research

According to Precedence Research, the global organic food market size is projected to hit around USD 497.3 billion by 2030 and poised to grow at a CAGR of 12.06% over the forecast period 2022 to 2030.

Ottawa, July 12, 2022 (GLOBE NEWSWIRE) -- The global organic food market size was estimated at USD 178.4 billion in 2021. The North American region is expected to dominate the organic food market. Increasing awareness regarding the consumption of healthy food products and various health related disorders due to the consumption of junk food or the conventional food is expected to drive the market in this region good amount of disposable income is also expected to drive the market in this region there are a large number of hypermarkets and supermarkets and also other stores that offer organic food products.

There's an increase in the subscription for these products. Popularity of vegan diet is also expected to drive the market growth. Health risks associated with the excessive consumption of conventional food which makes use of growth hormones in case of poultry or meat products and pesticides and fertilizers in order to increase the produce of vegetables and fruits have created a larger demand for organic food products. The US has a larger market for organic food products. There's a growing demand for organic food products from Argentina and Australia.

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The European region is also expected to have a upward growth for the organic market. Various health issues associated with the elderly population due to the long term consumption of conventional food products the market in this region will grow. High amount of disposable income in the European region will also drive the market growth period the Asia Pacific region will also have a good amount of share in the market as there is an increase in the number of the working class people.

Key Takeaways:

  • The North America organic food market is anticipated to reach at a CAGR of 12.8% from 2022 to 2030.

  • In 2021, meat, fish and poultry segment has contributed 20% of market share

  • Frozen foods segment has garnered market share of over 10.5% in 2021

  • The global fruit & vegetables segment will hit around US$ 192.7 billion by 2030

  • Europe organic food market is expected to hit around US$ 184.5 billion by 2030 with a CAGR of 13.6%

  • By product, the fruits and vegetables segment has garnered 41% revenue share in the 2021

  • The off-line distribution channel segment contributed 66% market share in 2021

Scope of the Report

Report Attributes

Details

Market Size in 2021

USD 178.4 Billion

Revenue Forecast by 2030

USD 497.3 Billion

CAGR

12.06% from 2022 to 2030

Base Year

2021

Forecast Year

2022 to 2030

Key Players

Newman’s Own, Inc., Whole Foods Market IP. L.P., Frito-Lay, Dole Food Co., Inc., The Kroger Co., Inc., Clif Bar & Company, Organic Valley., Dean Foods

Report highlights

  • On the basis of the product type, the vegetables and fruits segment is expected to dominate the market in the coming years. There's a growing demand for vegetables and fruits grown in an organic way in the North American region due to the various health benefits associated with the consumption of such products.

  • The offline segment is expected to have a larger market share as there are a wide range of supermarkets and hypermarkets or even specialty stores that have a larger shelf space allocated for organic food products. There are a wide range of organic food products displayed in these stores especially across the developed nations.

  • Greater purchasing power and better availability of organic products in the developed nations will lead to the growth of the market.

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Market dynamics

Drivers

As there is a growing awareness about the benefits of the consumption of organic food in the developed as well as the developing nations the market is expected to grow in the coming years. Standing of the health concerns associated with the excessive use of hazardous chemicals in the farming practices will also drive the market growth period deteriorating health conditions associated with the intake of such chemical based products has created a greater demand for organic foods across the globe. After that increase in the expenditure on health due to constant illness or other chronic diseases which may sometimes be fatal will also drive the market growth.

Restraints

The quantity of of the product cultivated in an organic we is always less as compared to the conventional way or the traditional way. As there is no use of fertilizers or pesticides or even the use of any injectables which help in increase the quantity of the crops the organic produce is expensive. Apart from it being high in terms of cost the other factor that is restraining the market growth is a limited shelf life. These expensive organic crops happen to have a shorter shelf life as compared to the traditionally grown crops there is a limitation for the growth of the market. All of these reasons happen to restrain the growth of the market.

Opportunities

Increasing health awareness and increased awareness regarding the benefits of the consumption of organic food produce is expected to provide greater opportunities for the market. There is a maximum demand for organic food produce in the North American region and the North American region is expected to provide maximum opportunity for the growth of the market. As there are a large number of brick and mortar shops that sell the organic food produce the market in this region is expected to grow well in the coming years and it is expected to provide larger opportunities as compared to any other market across the globe. Also a growing demand for organic poultry we will drive the market growth. As there is no use of growth hormones or any antibiotics in the organic poultry the market will grow. The authorities have initiated few policies that will help in providing certification to all of the organic products. And this is also expected to provide a great opportunity for the growth of the market in the coming years.

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Challenges

As there is a growth in the irregularity associated with the supply chain and the production of organic crops the market growth will be hindered. The storage of organic food produce becomes another challenging factor as the shelf life of this produce is extremely less. Preservation of organic fruit produce is another factor which happens to restrain the growth. Apart from all of these factors one major factor that happens to be a challenge for the growth of the market is the highly expensive organic products. Organic food products are not available in many nations and this also affects the market growth. There needs to be a greater penetration in the market in order to have a larger market growth in the coming year period.

Market Segmentation

By Product

  • Fruits and vegetables

  • Dairy products

  • Meat, fish and poultry

  • Frozen foods

  • Others

By Distribution Channel

  • Online

  • Offline

By Geography

  • North America

  • Europe

  • Asia-Pacific

  • Latin America

  • Middle East & Africa (MEA)

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