The significant factor driving the growth of the organic foods & beverages market is the increasing demand of ready to eat foods, both in developed and developing economies. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Organic Food & Beverages Market Research Report- Forecast to 2022 that the market will demonstrate an exceptional CAGR while achieving million dollar growth rapidly in the forecast period.
The growing demand for organically produced foods is growing rapidly. Evolving consumer buying habits, growing consumers’ concerns regarding health, the environment, and animal welfare, along with their willingness to pay premium price for healthy food is fuelling the demand of organic food market in Asia-Pacific region. Even at the global level, market is driven by factors such as increasing consumer awareness towards benefits associated with its consumption, adoption of organic farming methods, and implementation of organic regulations. The presence of organic foods & beverages has increased over the years in conventional food supply chains due to the development of private labels and growing interest of large retailers such as Wal-Mart and Tesco to sell organic products.
The market players have increased their levels of investment in research to identify right formulation and to improve product functionality in order to capture lion’s share and create brand recognition in organic foods & beverages market. Also, government authorities, NGOs, and farmer organizations in developing countries are promoting organic farming by financial support, market information, and trends in organic food market. Developing countries are providing subsidies to small farmers for organic farming. NGOs, farmer organizations, traders are conducting training programs to encourage farmers for adopting organic farming. Government and non-government organizations such as FiBL (Switzerland), APEDA (India), and USDA (U.S.) support conventional farmers to switch to organic farming. All these efforts from government and NGOs are boosting the consumption of organic foods & beverages.
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Latest Industry Updates:
July 2017 General Mills, Inc. launched their new organic yogurt under the brand name of “Oui”
March 2017 Hain Celestial launched organic bread products
June 2016 General Mills, Inc. made a partnership with Organic Valley. The partnership will aid the organization to source organic dairy products
March 2016 General Mills, Inc. introduced a line of organic whole milk yogurt, available in three varieties: berry, strawberry and vanilla.
Global organic food market is undergoing a massive technological innovation over the last couple of years. Manufacturers invest in research and technical development and investigative activities to improve existing products and procedures in order to develop new products. Research and development will lead to development of new product to improve the quality and functionality by including better formulations. Key players have been developing better-for-you products to accommodate the healthy food movement in convenient packaging, with clean labels ensuring food safety.
The key players profiled in organic food & beverages are Amys Kitchen Inc., Dean Food Company, General Mills Inc., Hain Celestial Group, Inc., SpartanNash Company, Kraft Foods Group Inc., The Kroger Co., and Whole Foods Market, Inc. among many others.
The global Organic Food & Beverages market has been divided into product type, packaging material, distribution channel, and region
On the Basis of Type: Bakery & Confectionary, Dairy and Frozen Desserts, Meat & Sea food, Frozen and Processed foods, and Others
On the Basis of Packaging Material: Glass, Plastic, Metal, Paper, and Others
On the Basis of Distribution Channel: Store based, and Non- store based
On the Basis of Region: North America, Europe, Asia Pacific, and ROW.
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The global Organic Food & Beverages market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Europe is estimated to retain its dominance throughout the forecast period of 2017-2023. The growth of the Europe is anticipated to be driven by the increasing busy lifestyles of the consumers coupled with the increasing launches of new products by the key players in Europe. Also, increasing awareness among the consumers related to the adverse effect of synthetic ingredients is propelling the sales of organic foods & beverages. However, Asia Pacific region is expected to witness highest growth as compared to the other regions. Increasing demand for clean label products, huge investments in R&D, and new product development by market players along with government initiatives and funds to support farmers to shift from conventional farming to organic farming has created lucrative opportunities for the growth of organic food & beverages market in Asia-Pacific region.
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