Newark, NJ, May 26, 2021 (GLOBE NEWSWIRE) – According to the report released by Fior Markets, the global organic food and beverage market It is expected to grow from USD 255.2 billion in 2020 and reach USD 849.7 billion in 2028, growing at a CAGR of 16.42% during the forecast period 2021-2028.
Significant growth in organic food and beverage sales is expected as a result of the change in consumer purchasing behavior. Consumers are now demanding clean label products and are interested in gaining insight into the ingredients used in the product and at what levels. This interest in scrutiny of ingredients used in food and beverages has led to an increase in sales of organic foods and beverages that are clean-label products. Consumers have become more health conscious, and as a result, manufacturers are focusing on introducing natural fruit ingredients with no added sugar in their food and beverage products.
Organic food and drink consists of natural and organic ingredients that are grown according to organic farming standards. These products are free of synthetic chemicals such as pesticides, fertilizers and are rich in nutrients such as minerals, vitamins, iron, magnesium, and phosphorus. Organic foods and drinks are also rich in antioxidants and can improve the overall health of consumers. Health conscious consumers are aware of the harmful effects of contaminants in food and therefore promote organic farming. The government in some parts of the world has also issued certain guidelines that prohibit the use of pesticides, chemicals, growth hormones, and other synthetic chemicals in growing organic food.
Factors driving market growth are aversion to consuming products with synthetic and chemical ingredients, and instead consumers prefer consuming natural ingredients, despite the difference in price. The increase in the purchasing power of consumers, an increase in the number of diet centers that propagate the use of organic food and beverages has significantly boosted the market sales. Factors restricting the market are rising prices for organic food and beverages; The high cost of production and operations, the shorter service life has hampered the growth of the market. Increased investment in R&D to develop organic techniques and government policies opens up many opportunities for market development.
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Some of the major players operating in the industry are Whole Foods Market Inc., General Mills, Inc., Everest, Cargill, Inc., WhiteWave Foods, DANONE, United Natural Foods Incorporated, Hain Celestial Group, Dole Food Company, Inc. , Dean Foods, Amul, The Hershey Company, Louis Dreyfus Holding BV, Arla Foods, Inc., Nature’s Path Foods, Newman’s Own, Inc., and Amy’s Kitchen.
The organic fruits and vegetables segment dominated the market and had the largest market share of 38% in 2020
Based on organic food, the global organic food and beverage market is segmented into organic dairy, organic fruits and vegetables, organic meat, fish and poultry, and frozen and processed organic food. The organic fruits and vegetables segment dominated the market and had the largest market share of 38% in the year 2020. This growth can be attributed to the increasing inclination of consumers to consume only those products that come directly from the farm, that comply with organic farming techniques and do not use any chemicals. Consumers have become more aware of the benefits of organic food compared to conventional food.
Organic non-dairy products segment dominated the market and held the largest market share of 35% in 2020
Based on organic beverages, the global organic food and beverage market is segmented into organic coffee and tea, organic non-dairy products, organic beer and wine, and others. The organic non-dairy segment dominated the market and had the largest market share of 35% in 2020. This growth can be attributed to the increasing adoption of vegan culture and the low fat content in non-dairy products. . Organic coffee and tea is growing at the fastest CAGR due to increasing economic conditions, there is an increase in the consumption of flavored tea and organic coffee worldwide.
Supermarkets / Hypermarkets segment dominated the market and held the largest market share of 42% in 2020
Depending on the distribution channel, the global organic food and beverage market is segmented into convenience stores, specialty stores, supermarkets / hypermarkets, and Internet retailing. The supermarkets / hypermarkets segment dominated the market and had the largest market share of 42% in 2020. This growth can be attributed to the increase in the number of supermarkets / hypermarkets and how they display a wide range of items belonging to different segments . and they have reserved a separate section for the organic food and beverage market.
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Regional segment of the organic food and beverage market
- North America (US, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Spain, rest of Europe)
- Asia-Pacific (China, Japan, India, rest of APAC)
- South America (Brazil and rest of South America)
- Middle East and Africa (UAE, South Africa, rest of MEA)
Based on geography, the global organic food and beverage market is classified into North America, Europe, Asia-Pacific, the Middle East, and Africa and South America. North America dominated the market and had the largest market share of 39% in 2020. This growth can be attributed to the change in dietary patterns and advances in organic farming techniques to meet the demand for organic food due to alarming disease rate. . Europe occupied a dominant position in the market due to changes in lifestyles and product innovation. The Asia-Pacific market is anticipated to witness significant growth due to an increase in consumer disposable income and large exports from developed regions such as North America and Europe.
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About the report:
The global organic food and beverage market is analyzed based on value (billions of USD). All segments have been analyzed on a global, regional and national level. The study includes the analysis of more than 30 countries for each segment. The report provides an in-depth analysis of drivers, opportunities, restraints, and challenges to gain key insights on the market. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, and Competitor Position Grid Analysis.
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