Increasing Demand of Organic Food Expected to Enhance the Growth of the Global Organic Food Market during the Forecast PeriodDownload Sample Reports Overview
The global organic food market is expected to garner a revenue of $416,049.7 million at a CAGR of 12.4% during the forecast period, according to a report published by Research Dive. The exclusive report offers a brief outlook on the prevalent scenario of the market including significant facets of the market such as growth factors, market dynamics, challenges, restraints and numerous opportunities during the forecast period. The report also features all the market figures making it easier and helpful for the new participants to understand the market.
In recent years, the popularity of organic food has been increased because of its multiple health benefits. These naturally grown fruits, vegetables, eggs, or meat helps build our immune system. These benefits have increased the demand of such foods in the market. This is one of the major attributors behind the growth of the market. Moreover, improved distribution channel and rise in the income level among the population is predicted to be another major driving factors for the global organic food market during the forecast period.
The production cost of the organic food is typically higher because of labor inputs and greater diversity of enterprises. This increases the retail price, which is predicted to be the biggest restraint for the global market growth in the forecast period.
The report has segmented the market based on food type and regional outlook. Based on food type, the market is further divided into fruit & vegetables, meat, fish & poultry, dairy products, frozen & processed foods and others.
Fruit and Vegetables Segment to be the Most Lucrative
Fruits and vegetable accounted for $63,549.4 million in 2019 and is further predicted to grow at a CAGR of 12.1% during the forecast period. The rising demand of organic products has also increased the cultivation of various organic fruits and vegetables across the globe which is going to boost the segment in upcoming years.
North America to Dominate the Market
North America market accounted for $59,305.4 million in 2019 and is predicted to rise with a CAGR of 13.1% during the forecast period. Increasing demand of organic food among the population is predicted to be the biggest driving factor for the global market, according to the report. The presence of large number of retail shops such as Walmart, Costco and many others is predicted to create more growth opportunity for the investors in the regional market in the estimated timeframe.
Key Players and Business Strategies
The report has also enlisted the major players of the global organic food market. They include Dean Foods, Organic Valley., Whole Foods Market IP. L.P., Dole Food Co., Inc., Newman’s Own, Inc., Frito-Lay, Clif Bar & Company, and The Kroger Co., Inc. among others.
The report also recapitulates some other important aspects of the leading players of the market including product portfolio, financial performance, SWOT analysis, and recent strategic steps and developments.