Published Date : 21 Jul 2023
The global organic food and beverages market size surpassed USD 219.77 billion in 2022 and is predicted to touch around USD 592.6 billion by 2030, growing at a remarkable CAGR of 13.2% between 2022 and 2030.
The Asia Pacific market is the fastest-growing market. It is because many major producers of the product, are present in China and India. Increased awareness about health benefits and fitness has led to a growth in the demand for the organic food and beverages market. Many advanced technologies are used in biological farming and it is expected to boost the organic food and beverages market. China and India both have the highest populations and also have a good production of organic food and beverages. Therefore, there is a rising demand for these products.
The increased standard of living of the people in developing nations is a major factor for the growth of the market. America and Europe are the largest markets for organic food and beverages as there are a lot of people in this region who prefer these kinds of foods. The Asia Pacific region will also experience a lot of growth due number of imports of these products. Many international retail stores are established. In the developing economies like India and China. So, the sales of these products are expected to grow. Organic and natural drinks like coffee and tea, which are available in these regions also expected to boost the market.
Organic Food and Beverages Market Report Scope:
|Market Revenue in 2023
|USD 248.78 Billion
|Projected Forecast Revenue in 2030
|USD 592.6 Billion
|Growth Rate from 2022 to 2030
|CAGR of 13.2%
|2022 To 2030
|North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Due to in the increased awareness regarding the health benefits with the consumption of organic food and beverages, the use of the products and services from these industries are expected to grow during the forecast. In the coming years, the demand for this product is expected to grow well due to various government policies and awareness campaigns. The common people are aware about the environmental issues and the health hazards that will affect humans. The consumption of impure or inorganic substances for a very long period of time will lead to various diseases and the awareness regarding this has led to a growth in the market for organic products.
Growing awareness regarding the benefits of organic foods and beverages and the target audience which belongs to different income groups are the major challenge for the sales of organic foods and beverages. Another challenge is that of retaining customers. The target audience is coming from different income groups. As organic products are expensive. The low income or middle-income people are finding it difficult to buy these products even though they are well aware of its health benefits. As organic foods and beverages are costly. People from middle-income groups or the lower income groups cannot afford to buy them so the growth will be restrained.
The organic food and beverages industry is expected to grow during the forecast. An increase in digital literacy and the use of e-commerce platforms, increased access to information about organic food and the platforms that help in reaching out to these products has led to a growth in the market. There is an insignificant price difference between the organic and inorganic foods but when these are compared with the health benefits that are provided by the organic food.
Consumers will surely switch to organic foods and beverages, so these factors are expected to provide opportunities for the growth of the organic food and beverages market. The governments of various nations are supporting the organic food and beverages industry by extending financial help to farmers in order to adopt organic farming. They're also carrying out programs for certification of organic products and standardization of these products. There's a growing export of the organic food and beverages and therefore the market is expected to grow.
A major challenge in the growth of the organic food and beverages industry is the farming of organic crops. The ingredients that are used in producing organic crops decay faster as compared to inorganic crops when it comes in contact with temperature fluctuations. The use of pesticides and insecticides in the crops helps in preventing pest infestation but when it comes to organic farming there's a major challenge of protecting the crop. Also, the cultivation of organic crops requires an extensive patch of land and more time as compared to inorganic crops. So all of these are the major challenges for the growth of the organic food and beverages industry.
Major Key Players:
By Distribution Channel
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