Organic Food Market Expected to Reach $483.00 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Organic Food Market," The organic food industry was valued at $168.50 billion in 2021, and is estimated to reach $483.00 billion by 2030, growing at a CAGR of 11.7% from 2022 to 2030.

Organic food restricts the use of chemical pesticides, preservatives or fertilizer and are farmed using natural resources. For many years, organic farming has been gaining popularity in countries all over the world. Organic food is being accepted by more and more people due to the presence of multiple benefits such as they are pesticide free and hence not harmful or allergic to the body. Nonetheless, a sizable proportion of consumers in Serbia are willing to pay 80 to 100 percent more for organic foods than for conventionally produced commodities.

Organic food is high in nutrition and aids in the fulfilment of a person's nutritional requirements. Furthermore, growing awareness of the detrimental effects of chemical pesticides and fertilisers found in common fruits and vegetables on the body has fuelled the organic food market trends expansion.

However, because organic food products are more expensive than regular food, organic food market growth is likelyto be restricted in the forecasted time frame. Organic farming uses organic fertilizers, manure, and bio insecticides, which are more expensive than conventional pesticides. Furthermore, organic farming necessitates more manpower and significant efforts in order to provide productive results. Such factors will significantly stifle organic food market growth in the next years.

The rise in the prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases among the global population, as well as the burden of infectious diseases, healthcare expenditure, and health-consciousness, are all major factors driving consumers' attention to the adoption of healthy and high-quality food around the world. This has prompted many individuals to include organic foods in their and their children's diets in order to avoid the onset of serious diseases in the future. These factors are anticipated to generate huge organic food market size in future.

The organic food market share is segmented on the basis of type and region. By type, the market is classified into fruit and vegetables, meat, fish and poultry, dairy products, frozen and processed foods and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in this report include Organic Valley., Dean Foods, Dole Food Co., Inc., Newman’s Own, Inc., Whole Foods Market IP. L.P., Frito-Lay, The Kroger Co., Inc. and Clif Bar & Company, among others.

The report focuses on the global organic food market opportunity and the major products & applications, where organic food is involved. It further highlights numerous factors that influence the market growth, such as forecast, trends, drivers, restraints, opportunities, and roles of different key players that shape the market. The report focuses on the overall demand for organic food in various countries, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices, considering the region-wise differentiated prices.

IMPACT OF COVID-19 ON THE GLOBAL ORGANIC FOOD MARKET OUTLOOK

• During the COVID-19 pandemic, the global demand for organic food grew in a measurable way. Beginning in 2020, people modified their food purchasing and consumption routines when eateries closed and home cooking became the norm.
• COVID-19 impacted almost all industries by hindering various industrial operations. The growing environmental concerns over the use of harmful chemicals in agriculture and farming and its ill-effects on consumers’ health result in the increase in demand for the organic food and beverages.  
• Furthermore, The COVID-19 pandemic has significantly boosted the growth of the global organic food and beverages market. According to the Organic Trade Association, the U.S. witnessed an all-time high sales of organic food and non-food items in 2020.
• The increase in health-consciousness and the rise in focus of consumers towards healthy food intake during the pandemic to improve their immunity and gut health augment the demand for the organic food and beverages in the market.

Key Findings of the Study

• On the basis of type, the fruits and vegetable segment emerged as the global leader in 2021 and is anticipated to be the largest market during the forecast period.

On the basis of region, Asia-Pacific is projected to have the fastest growing market during the forecast period.