Organic Food and Beverages Market Predicted to Reach $327,600 million by 2022
Allied Market Research has recently published a report on organic food and beverages market, which is an in-depth study of the entire industry for the time period 2016–2022.
The Global organic food and beverages market is expected to reach $327,600 million by 2022, from $115,984 million in 2015, at a CAGR of 16.4% from 2016 to 2022. The organic beverages segment occupied a dominant share, accounting for about three-fifths of the market in 2015, and is expected to maintain this trend during the forecast period. The organic fruits and vegetables and other organic food segments collectively accounted for half of the global organic food market share in 2015, whereas the organic coffee and tea sub-segments contributed nearly one-third share of the organic beverages market in 2015.
Organic foods and beverages offer ample advantages over conventional foods such as health benefits, free of harmful chemicals, and others. The global market is poised to witness significant growth during the forecast period, owing to increase in income levels, rise in awareness regarding advantages of organic products, and advancements in organic farming techniques. The demand for organic food and beverages is anticipated to increase by three-folds by 2022 as compared to that in 2015. In addition, factors such as heavy investment and supportive investment policies by government organization for organic farming provide lucrative opportunities to market players. However, high price of organic products and low shelf life hamper the market growth.
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Organically grown fruits and vegetables have high nutritive value, and are free from pesticides and other chemicals. Furthermore, organic nondairy beverages are in high demand among consumers due to increase in health awareness among consumers. Therefore, this segment accounted for significant share of the global market in 2015, followed by the fruits and vegetables segment. The popularity of organic meat, fish, and poultry has increased among consumers, as these products are free from chemicals and contain less fat and cholesterol. Moreover, the organic baby food segment is expected to witness huge potential in the near future, as these products are safer than the conventional baby foods.
Key Findings of Organic Food and Beverages Market:
- The organic food segment is projected to grow at a significant CAGR of 16.6% from 2016 to 2022.
- Among organic beverages, the nondairy beverages segment is projected to grow rapidly during the forecast period.
- The organic beverages segment accounted for about three-fifths of the global market in 2015.
- The Asia-Pacific region is projected to grow at the highest CAGR of 23% during the forecast period.
- The coffee & tea segment accounted for nearly one-third share of the market in 2015.
Presently, North America and Europe jointly contributed for more than four-fifths share of the global market. The Asia-Pacific region is anticipated to register the highest CAGR of 23% during the forecast period. The organic dairy products market has the highest potential for growth in European countries. The countries in Latin America and the Middle East are projected to exhibit significant growth in the near future.
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The key market players profiled in the report are The WhiteWave Foods Company, Hain celestial Group, Inc., General Mills Inc. United Natural Foods, Inc., SpartanNash Company, Amy’s Kitchen, Inc., Dean Foods Company, Starbucks Corporation, The Kroger Co., and Whole Foods Market Inc.
