The organic foods market is projected to secure a valuation of US$ 176.51 billion in 2023 and is anticipated to rise to US$ 553.13 billion by 2033. The market is likely to register a CAGR of 12.1% during the forecast period.
The rising urbanization, population, and changing consumer preferences are driving market growth during the forecast period. Increasing consumer awareness of a healthy lifestyle and government initiatives to promote organic farming fuel market opportunities. In addition, the popularity of novel products and clean-label food items is increasing the adoption of organic foods.
Several food & beverage manufacturers innovate food production by adopting organic foods, including bakery products, snacks, infant formulas, and confectioneries. Consumers’ growing popularity of processed, frozen and packed foods is advancing the market share. In May 2022, Cocos Organics announced the new launch of dairy-free yogurt with the addition of Bifidobacterium BB-12.
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Endorsement of Companies’ Brand Drive the Market Growth
The top companies present innovative products through organic foods that attract consumers’ requirements. In addition, these companies are promoting their product to enhance their brand reputation. Adding several organic foods such as traditional, organic, and vegan, these company vendors upgrade a healthy lifestyle.
Famous personalities are advertising newly launched products to get a maximum engaging audience which is further flourishing the market size. In November 2021, Amara Organic Foods collected a fund of around US$ 12 million to expand its business for infant organic food products.
Key Takeaways:
The organic foods market is expected to have a valuation of US$ 553.13 billion by 2033.
- With a CAGR of 12.1%, the global market increasing from 2023 to 2033.
- The United Kingdom organic foods market is anticipated to secure a maximum share through 2033.
- In the historical period, the market secured a CAGR of 11.2% between 2017 and 2022.
- In the historical period, the market captured US$ 172.06 billion between 2017 and 2022.
Who is Winning?
The presence of prominent vendors around the globe fragments the market. These vendors invest a massive amount in research & development activities to innovate various innovative products through their marketing knowledge and unique ideas. In addition, key players are focusing on consumers’ requirements and developing the products accordingly to attract them.
Several marketing tactics and advanced technologies are adopted to acquire maximum output and upsurge the market to another height. These marketing methodologies include mergers, acquisitions, partnerships, agreements, and collaborations.
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Other Prominent Players in the Market:
- Eden Foods Inc
- General Mills Inc
- Organic Valley
- Danone S.A.
- Amy’s Kitchen Inc
- Hain Celestial Group Inc
- SunOpta Inc
- Arla Foods Amba
- Dole Plc
- Organic India Pvt Ltd
Recent Developments in the Organic Foods Market are:
- In June 2020, Sprout Organic Inc signed a partnership with Amazon to provide a plant-based formula for infants in Australia.
- In May 2020, Barry Callebaut announced its new dairy-free organic chocolate to expand its business in North America.
- In April 2022, Nestle S.A. announced new plant-based products for babies, which are available on Amazon.
- In May 2022, Organic India launched organic tea products such as Tulsi Detox Khawa, Moringa Hibiscus, and Peppermint Refresh.
- In January 2021, L.T. Food Limited announced its acquisition with a 30% of stake in Leev. Nu. Company. The company promotes organic-label food products in the Netherlands.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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