Global
Organic Food and Beverages Market: Snapshot
Evolution
of social media in the past decade has played a significant role in
raising the awareness regarding the ill-effects of traditional or
conventional food, and the benefits of organic food and beverages.
Consumers are now willing to pay the premium price for higher quality
products and this factor is expected to augment the demand in the
global
organic food and beverages market. Gaining traction from
several other factors, the global organic food and beverages market
is projected to increment at a strong CAGR of 15.5% during the
forecast period of 2013 to 2019, reaching a valuation of US$187.85 bn
by the end of 2019, significantly up from its US$70.70 bn worth in
2012.
Apart
from the change in how organic foods are perceived, consumers are now
giving emphasis on social aspects of organic production, supporting
small scale agriculture that is done in a clean environment rather
than at large farms. Government support for organic way of life has
also proved to be an important factor driving the demand in the
global organic food and beverages market. Now, additives and food
ingredients are strictly studied, regulated, and monitored. Widening
of distribution channels and participation of several players with
innovating organic food and beverage products is also expected to
favor the prosperity of this market. On the other hand, short shelf
life and higher cost in comparison to conventional food continues to
hinder the growth rate of the market. Increased investment on
research and development of new products, targeting infant and
toddlers is expected to open new opportunities for the stakeholders
of the global organic food and beverages market.
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Urban
Population Preferring Organic Fruits and Vegetables
Based
on product, the global organic food market has been segmented into
meat, fish, and poultry products, fruits and vegetables, frozen and
processed food, and dairy products. Among these, fruits and
vegetables segment currently serves the maximum demand and is
expected to account for most significant 38.8% share of the demand in
2019. This demand for organic fruits and vegetables is attributed to
modern lifestyles that is encouraging consumers to opt for hygienic
options as well as get rid of traditional hassles of cleaning and
chopping fresh fruits and vegetables. Moreover, health-consciousness
has significantly improved in the recent past with healthy living and
fitness trends engulfing urban population. This is another factors
escalating the demand for organic food products. Non-dairy beverages
and coffee and tea are two most important organic beverages market
segments and are expected to remain so until 2019, although beer and
wine segment is also gaining popularity.
North
America and Europe Most Lucrative Regions
Together,
North America and Europe are anticipated to account for 88.1% of the
demand for organic food and beverages by the end of 2019, which may
be slightly less than its estimated collective demand but still a
very significant chunk. This robust demand from North America and
Europe is a reflection of awareness levels among the consumers,
higher buying capabilities, and launch of new products. The U.S. and
Canada are identified as most profitable countries in North America
while Germany, the U.K., Spain, Russia, Italy, the Netherlands, and
Denmark dominate the demand coming from Europe.
With
a large number of participants, the global organic food and beverages
market is fragmented in nature, and expansion of The Hain Celestial
Group Inc., Amy's Kitchen Inc., 365 Everyday Value/Whole Foods,
Organic Valley, and Private label companies are identified as leaders
in global organic food market while Starbucks, The Hain Celestial
Group, and Private label companies occupy the most prominent share in
global organic beverages market.
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