Global Organic Food Market Expected to Garner Revenue of $4,16,049.7 Million at a CAGR of 12.4% from 2019-2027- Exclusive Report [Pages-137]by Research Dive
The global organic food market is expected to gain significant momentum in the forecast period 2019-2026. The fruits and vegetables sub-segment is set to gain the highest market share. The North American region is expected to further add to the market growth.
New York, USA, Aug. 16, 2021 (GLOBE NEWSWIRE) -- As per the latest report by Research Dive, the global organic food market is anticipated to witness a rise in revenue from $1,62, 026.7 million in 2019 to over $4,16,049.7 million by 2027 at a healthy CAGR of 12.4% from 2019-2027
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Market Dynamics
Organic food is named so because it is free from any external elements such as chemicals or fertilizers of any kind. Most of these products are made using ingredients that are not only safe, but are natural products as well. People have been shifting towards organic products as they’re safer for consumption in the long term. To add further, the steadily increasing incomes of a majority of the population have also contributed to the growth of the market in the forecast period.
The process of producing organic food products requires an extensive range of natural resources as well as extensive labor. The process takes longer but the food products have a shorter shelf life. These factors are predicted to restrain the growth of the market in the analysis period.
Segmental Analysis
The report has categorized the market into multiple segments based on food type.
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Fruits and Vegetable Sub-Segment Set to Dominate the Market
By food type, the fruits and vegetable sub-segment garnered revenue of $63,549.4 million in 2019 and is anticipated to rise further at a healthy CAGR of 12.1% from 2019-2027. Most organic companies prohibit the use of chemical fertilizers or preservatives in the process of growing or harvesting the fruits. The absence of these chemicals makes them a healthier choice which has led to a boost in the demand for organic food products. This rise in demand has contributed to the rapid growth of the segment in the analysis period.
Regional Analysis
The North America region gained a revenue of $59,305.4 million in 2019 and is predicted to rise further at a CAGR of 13.1% in the estimated timeframe. This growth is primarily due to the constantly growing demand from consumers as well as the availability of organic products in most of the retail stores such as Walmart and Costco. These factors are expected to contribute to the growth of the market in the region.
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Key Market Players
The report contains a list of notable market players of the global sulfamic acid market who have been ensuring the constant growth of the market. They are as listed below:
- Organic Valley
- Dole Food Co, Inc
- Whole Foods Market IP
- Frito-Lay
- Clif Bar and Company
- Dean Foods
- Newman’s Own, Inc
- The Kroger Co, Inc
These players are currently focusing on R&D activities, mergers &acquisitions, partnerships, and collaborations to sustain and attain a leading position in the market. For instance, in March 2021, Organic Valley, renowned producer of organic products stated that they plan to launch a new line of cheeses in the market. The Organic Valley American cheeses will be produced using milk from cows raised in pastures. The company has listed the clean ingredients used in the production process to be butter and milk and the cheese is set to be launched in two variants white and yellow.
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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