Technavio’s latest market research report on the global organic packaged food market predicts the market to witness a CAGR of close to 7% during the forecast period. This research report segments the market by product (dairy, bakery, and confectionaries; meat, seafood, fruits, and vegetables; sauces, dressings, condiments, and spreads; and others), and geography (Europe, North America, APAC, MEA, and South America).
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Technavio has published a new market research report on the global organic packaged food market from 2019-2023. (Graphic: Business Wire)
Growth of organic farming and concerns about the environment
Organic farming is gaining immense popularity as it relies on organic herbicides, fungicides, and other natural ingredients, instead of artificial enhancers or harmful pesticides. Organic products are thus safe for human consumption and they do not hamper the farm land. Therefore, the demand for organic products is increasing significantly across the world. Governments of several countries are also providing incentives to farmers who adopt organic farming. Therefore, the growth of organic farming is expected to boost the growth of the global organic packaged food market during the forecast period.
Dairy, bakery, and confectionaries product segment will garner the highest share.
Dairy, bakery, and confectionaries emerged as the largest segment of the organic packaged food market in 2018 and is expected to maintain its dominance over the forecast period. The market dominance of the dairy, bakery, and confectionaries segment can be attributed to the growing consumer demand for organic bakery products and the increasing online sales of organic products.
“The awareness about the health benefits of the consumption of organic packaged food products is increasing significantly. This has resulted in an increased demand for organic dairy, bread, and confectionary products. As a result, vendors in the market have been launching new products to cater to this growing demand, which will fuel the growth of this market during the forecast period,” says a senior research analyst at Technavio
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Organic packaged food to witness fastest adoption in APAC.
A significant increase in awareness about the various health benefits of organic products, has led to growth in the consumption of organic food products in APAC. This growth is further supported by the entry of new vendors and increasing number of new product launches by established vendors in the organic packaged food products market. Moreover certifications, and logos by regulatory authorities help consumers identify genuine organic products. This will further boost market growth and prevent the sales of counterfeit or mislabeled products. All these factors will help lead to APAC emerging as the fastest growing geographical segment over the next five years.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the global organic packaged food market analysis include :
Five Forces Analysis
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