Organic Foods Market to Reach US$ 176.51 billion in 2023 and is Expected to be worth US$ 553.13 billion by 2033 | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Food Manufacturers Develop Healthy Organic Food Items that Lessen Heart-related Diseases. The hypermarkets/supermarkets distribution channel drives the organic foods market.
DUBAI, United Arab Emirates, March 02, 2023 (GLOBE NEWSWIRE) -- 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.
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 foodsmarket 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.
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.
More Insights into Organic Foods Market
In its latest report, FMI offers an unbiased analysis of the global organic food market, providing historical data from 2017 to 2022 and forecast statistics for 2023 to 2033. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of category, product type, distribution channel, and region.
According to the same reports, based on segmentation, the supermarket/ hypermarket distribution channel will contribute substantially to the overall market growth. This segment will account for a sizeable portion of the market share due to the availability of a large variety of products.
Based on region, the organic food market in the US will likely demonstrate strong growth and account for a large portion of the overall market share. The target market in this region is shaped by growing health consciousness, heightened focus on eating healthy, and rising demand for clean-label products. Rising organic farming also promotes the organic food market growth in the US. Additionally, the U.K, and India will also make considerable contributions to the global growth of the organic foods market.
Explore FMI’s related ongoing Coverage on Food and Beverage Domain
Organic Snack Food Market Share: The Organic Snack Food Market is expected to expand at a CAGR of 4.1%. The industry's estimated value will increase from US$ 9.1 Bn in 2023 to US$ 13.5 Bn in 2033.
BRIC Organic Baby Food Market Size: The BRIC organic baby food market is anticipated to be worth US$ 5.5 billion in terms of revenue in 2023. The market is projected to expand at a CAGR of 16.1% to reach a market size of US$ 24.5 billion by 2033.
Fortified Foods Market Analysis: The fortified foods market value is expected to reach US$ 234,253.7 Mn by 2031, exhibiting growth at healthy CAGR of 6.3% for 2021-31.
Whole Grain & High Fiber Foods Market Forecast: The sales of whole grain & high fiber is estimated to be valued at US$ 50,872.6 Mn in 2022. As per Future Market Insights (FMI), the overall market value is expected to reach US$ 105,379.4 Mn by 2032, rising at a CAGR of 7.6% for 2022-32.
Functional Foods and Natural Health Products Market Value: The global functional food and natural health products market size was valued at US$ 22.4 bn in 2022, and it is expected to grow at a CAGR of 5.1% from 2022-2032. The market is expected to reach a valuation of US$ 37.5 bn by 2032.
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