Escalating environmental concerns and the rising demand for organic food are chief drivers of the global organic food market. Transparency Market Research’s (TMR’s) new market study, titled “Organic Food Market – Global Industry Size, Share, Trends, Analysis and Forecasts 2016 – 2024,” focuses on various factors enabling the market’s growth. It covers market intelligence and presents insights into growth opportunities prevalent across the world. The report is intended to help stakeholders have a bird’s eye view of the global organic food market.
While more industries are inclining towards the uptake and use of cutting-edge technologies, farmers are gradually heralding back to indigenous farming methods for the greater good of the mankind. This transition is steered by a new generation of health-conscious consumers who are aware about the adverse effects of harmful chemicals used during cultivation of crops. This has subsequently fuelled the demand for organic foods worldwide. Starting from the soil to seed and the water, everything used for producing organic foods is natural and devoid of any chemicals, fertilizers, or pesticides. However, producing organic foods is a time-consuming process as it uses antiquated methods. As a result of this, they often cost more than their counterparts produced using chemicals and fertilizers in lesser time.
Never mind the high price, consumers who consider their health and wellbeing to be of paramount importance show increased preference for organic foods. The rising willingness of consumers to spend on healthier habits and lifestyle choices will augur well for the global organic food market. Against this backdrop, TMR expects the global organic food market to exhibit robust growth in the coming years.
It is important to note here that the growing awareness about organic food products and government initiatives encouraging adoption of healthier farming methods have rendered an increasing number of consumers discerning. Besides this, the rising concerns pertaining to the harmful effect of several modern methods of farming on the environment have paved the way for the market’s expansion in near future. Pesticides often used in farming to thwart pests, mollusks, and rodents often accumulate in soil and water, besides making way to human body. They cause damage to environment and can trigger illness in humans. On the flip side, farmers often use reusable methods to produce organic foods, which limits the use of harmful chemicals and pesticides. This is a key factor behind the paradigm shift towards organic foods.
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While underdeveloped countries continue to use indigenous farming methods, the preference for the same is likely to increase in developed regions as well thus creative lucrative prospects for the market’s growth. Some of the most prominent companies operating in the global organic food market are United Natural Foods Inc., Spartan Stores Inc, AMCON Distributing Co., Hain Celestial Group Inc., The Kroger Co., Whole Foods Market Inc., among others.