Organic food and beverage market
The outbreak of COVID-19 in 2020 has significantly boosted the demand for organic food products across the world. Health consciousness among people has increased exponentially. As a result, the demand for clean labeled food products and healthy products has grown at a significant rate. According to the Organic Trade Association, the United States had an all-time high in organic food sales in its history in 2020.
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The global organic food and beverage market size is expected to reach USD 860,625.7 million by 2031 at a CAGR of 14.9% from 2022 to 2031.
It is expected that the consumption of organic foods and beverages will offer many advantages over conventional foods. Organic products help to get rid of the harmful effects of inorganic foods and help lead a healthy life. The global organic food and beverage market is poised to witness significant growth over the forecast period, owing to rising income levels, growing awareness about the benefits of organic products and improving organic farming techniques. The demand for organic food and beverages is expected to quadruple by 2031 from its size in 2020. Also, due to its huge growth potential, the market is attracting more investors and many governments countries are proposing new investment policies to encourage organic farming, which creates huge growth opportunities for the organic food and beverage market to nurture in the near future. However, factors such as the high price of organic products and poor shelf life are expected to hinder the growth of the organic food and beverage market.
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The developing markets of India, China and Brazil are supported by rising incomes, rising quality of life and a growing middle class, which are fueling demand for food and organic drinks. Additionally, the rapid penetration of e-commerce, surge in adoption of online platforms among millennials, and increased health awareness among the masses have changed the outlook for the entire healthcare industry. organic food and drink.
Major market players profiled in the report are WhiteWave Foods Co., Hain Celestial Group, Inc., General Mills Inc. United Natural Foods, Inc., SpartanNash Company, Amy’s Kitchen, Inc., Dean Foods Company, Starbucks Corporation, The Kroger Co. and Whole Foods Market Inc.
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Main results of the study:
The organic coffee and tea segment dominated the global organic food and beverage market trends in 2020 and is expected to reach $189,881.7 by 2031.
Based on the process, the processed segment grows at a faster rate during the forecast period.
The supermarket/hypermarket segment accounted for 35.2% of the total market share in 2020.
Asia-Pacific is expected to see the strongest growth, registering a CAGR of almost 18.0% during the forecast period.
The United States accounted for 41.5% of the market share of the global organic food and beverage market forecast in 2020.
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