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.
Increasing urbanisation, population growth, and altering consumer tastes will fuel market expansion during the projection period. Rising consumer awareness of a healthy lifestyle, as well as government schemes to assist organic farming, are driving market potential. Organic foods are becoming more popular as new commodities and clean-label food products gain appeal.
Several food and beverage industries, including bakery items, snacks, newborn formulae, and confectioneries, are innovating food manufacturing by incorporating organic foods. The growing popularity of processed, frozen, and packaged meals among consumers is increasing market share. Cocos Organics announced the availability of dairy-free yoghurt with Bifidobacterium BB-12 in May 2022.
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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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