As per Market Research Future and its latest study, the global organic food & beverage market 2020 will analyze its ability to withstand Coronavirus-related recession scenarios in this year and would emerge as a stronger market than other markets would. The study predicts that the market of organic food & beverage will score more than what it achieved in the past. The forecast for growth seems outstanding, which will witness through the years 2020 – 2023.
Organic Food and Beverage Market: Growth Boosters
The demand for organic ingredients has matured over 10% from 2007, owing to the desire to improve general health and the spread of awareness about the harmful effects of synthetic ingredients. Many health risks are related to the use of conventional food owing to the presence of chemicals, such as pesticides, antibiotics, and many different drugs. This has resulted in consumers preferring organic food & beverage products, which are non-toxic and environmentally friendly. These factors have contributed the most to the growth of the global organic food & beverages market.
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Emphasize regulatory support for organic farming has also been put a positive influence on the market by improving supply and product quality. In this extremely dynamic market, distribution also plays a vital role and is considered the primary factor for the success of the organic food & beverages. The unique advantages related to the products such as zero chemical, eco-friendly, and healthier compared to conventional or inorganic food make the market more robust with ample of shares. Rising consumer awareness regarding the benefits of non-genetically modified or engineered product intake is anticipated to fuel the market in the forecasted period.
Despite these factors, the market also witnesses some restraining factors such as the premium pricing of products, shorter shelf life of goods, limited options to choose from the product assortments, and limiting extensive customer acceptance. Organic beverages are more expensive than traditional beverages and likely to have favorable perceptions among consumers who prefer a healthier lifestyle to high premium prices. These factors might restrain the growth trajectory of the market in the forecast period.
Dean Foods (US), Amy’s Kitchen, Inc. (US), Hain Celestial (US), General Mills, Inc. (US), The Kroger Co. (US), The Kraft Heinz Company (US), SpartanNash Co. (US), and Whole Foods Market Inc. (US) are the top players listed in the Global Organic Food and Beverage Market.
Global Organic Food and Beverage Market is studied under various segments such as type, packaging material, and distribution channel.
By the segment of type, the market includes dairy and frozen desserts, sweet and savory snacks, bakery and confectionery, meat and seafood, beverages, and others.
By the segment of packaging material, the market has included plastic, glass, paper, metal, and others.
By the segment of the distribution channel, the market includes store-based and non-store-based. The store-based segment is also being divided among convenience stores, supermarkets and hypermarkets, specialty stores, and more.
The availability of farmlands for organic farming in the U.S., Argentina, and Australia has forced the regulators to frame supportive policies to boost the production output of organic foods. As a result, increasing demand for organic foods and the regulatory support might have a complimentary bang on organic food and beverages market demand in the forecast period.
In various European countries such as Germany, Denmark, Austria, and the UK, the number of organic farms has stagnated in the last few years, affecting the entire regional organic agricultural output. However, considerable growth is observed in other European countries such as Belgium, France, Italy, Portugal, Slovakia, Spain, Bulgaria, and Croatia.
The Asia Pacific organic foods and beverages market might also witness an elevated growth rate, owing to the escalating affluence and consumer disposable income. In fact, escalating consumers’ awareness of health and advancement in biological farming techniques are anticipated to oblige product demand in this region in the future timeframe.
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