Categories: Food & Beverages

Organic Food Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Organic Food by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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https://www.thebusinessresearchcompany.com/report/organic-food-global-market-report

According to The Business Research Company’s Organic Food, The organic food market size has grown rapidly in recent years. It will grow from $244.82 billion in 2023 to $279.19 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The growth in the historic period can be attributed to rising awareness of the benefits of organic products, increasing cases of food poisoning, strong economic growth in emerging markets, influence of digital media marketing and social media and covid-19.

The organic food market size is expected to see rapid growth in the next few years. It will grow to $489.75 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%. The growth in the forecast period can be attributed to growing number of health-conscious consumers, demographic shifts in emerging markets, rising penetration of organized retail and growth in specialist organic food retailers in developed economies. Major trends in the forecast period include focusing on improving labelling and packaging, exploring opportunities to invest in new product launches, leveraging artificial intelligence (ai) for organic farming, developing zero-calorie soft drinks, focusing on expanding product portfolio and focusing on upcycled food.

Increasing health concerns due to growing number of chemical poisoning cases globally is acting as a driver in the organic food market. Consumers are becoming more health-conscious owing to the harmful effects caused by the presence of chemical pesticides in food products. The toxicity of chemical pesticides in food products can cause cancer, hormone disruption, and birth defects. According to a UN report, around 200,000 people die every year due to the toxic effects of pesticides on food products. This is causing consumers to shift their focus towards organic food products.

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The organic food market covered in this report is segmented –

1) By Product Type: Organic Meat, Poultry & Dairy, Organic Fruits & Vegetables, Organic Bread & Bakery, Organic Beverages, Organic Processed Food, Other Organic Products

2) By Application: Conventional Retailers, Natural Sales Channels, Other Applications

3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Store, Specialty Stores, Online Stores

The organic food market is regulated by authorities such as the US Food and Drug Administration (FDA) and the European Food Safety Authority (EFSA) to ensure a high-quality standard of food products is maintained. For instance, EFSA oversees whether labelling is used to mislead consumer on the nutritive proportions of a product in the EU. EFSA performs occasional checks on the nutritional value to check whether correct labelling has been used or not. In order to maintain transparency and effectiveness, regulatory authorities have come up with strict food labelling regulations for the organic food market.

The organic food market report table of contents includes: