Increase in the Global Demand of Organic Food: Decoding this Trend
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Organic food is different from conventionally grown food because Organic food is either grown under a natural system of agriculture, without the use of synthetic fertilizers or they are processed products made from organically produced raw materials. The rise in popularity of these products has essentially been a direct result of growing health concerns among consumers and increasing awareness with regard to the health benefits of organic food.
The Full Picture
While according to Market Research, it is estimated Global Organic Food and Beverages Market will reach USD 323.56 Billion by 2024, a recently published research report, “Global Organic Food Market Forecast and Opportunities, 2020”, projects to register a CAGR of over 16per cent during 2015 – 2020 of the global organic food market.
Bifurcating the trend region-wise, according to some market researches, North America holds approximately 40per cent of the global market revenue share and dominate the organic food market with the highest CAGR. The reasons attributed to high growth in the use of organic products in the region are increasing health consciousness in lieu of increasing health issues such as obesity, diabetes, hypertension etc.
Europe is the second most largest consumer of organic produce and accounts for over 33per cent of the total revenue share globally. This development in Europe is foreseen because of the change in the outlook of the populace towards an inclination of a solid way of life and the rising mindfulness about the medical advantages of organic food. The expanded availability of organic products in retail outlets make it increasingly advantageous for buyers to buy these items.
Trends in Asia Pacific
Asia Pacific displays a fast increment in CAGR, attributable to the changing ways of life and increment in customer discretionary cashflow. Expanding mindfulness about the medical advantages of organic food combined with the headway in organic cultivating procedures are foreseen to drive the interest for natural nourishment and drinks in the locale over the gauge time frame. The Asian market has a significant amount of imports of processed organic food and beverages from the developed countries of Europe and North America. The industrialized and developed countries such as Australia, New Zealand, Japan, Singapore, Hong Kong, and Korea are major markets for organic foods and beverages in the Asia Pacific. There is also an increase in demand for the products in developing countries like India and China due to awareness about the benefits of organic food and beverage.
Other Parts of the World
The Middle East and Africa and Latin America are relied upon to observe a fast development as well. The fast adaption of western culture and increment in mindfulness about organic food is relied upon to help in the increase in demand for organic food.
Organic food items are gaining popularity for pretty straightforward reasons i.e. GMO-free content, nutrient richness, zero growth hormones, zero antibiotics, fewer pesticides, improved freshness levels, and better environmental stability. That said, with increased awareness amongst individuals, it is only a matter of time that the organic products overpower almost all the conventional food items in our homes.