NEW YORK, Nov. 5, 2023 /PRNewswire/ — The organic food and beverages market size is forecast to increase by USD 310.08 billion from 2022 to 2027, at a CAGR of 15.85%, according to the recent market study by Technavio. North America is estimated to contribute 35% to the growth of the global market during the forecast period. Since vegans only consume plant-based products, the rising vegan population in the US will also help the regional organic food and beverage market expand over the forecast period. Two to six percent of US consumers consider themselves vegetarians. Celebrities are also becoming more and more pro-vegan in America. Additionally, the number of US startups providing vegan nutrition is growing. As consumers believe they are healthier than regular organic foods and beverages, the demand for organic food and drink is rising in the area. During the forecast period, this will also aid in the market’s expansion. During the forecast period, there is also expected to be an increase in the number of new players offering products made from organic foods and drinks. Take action now and gain valuable insights into the impact of the US crisis with our comprehensive analysis report – Talk to us
Organic food and beverages market– Segment Overview
The market is segmented by type (organic fruits and vegetables, organic dairy products, organic prepared foods, organic meat, and others), distribution channel (offline and online), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
Segmentation by application (Inclusion/Exclusion)
- The market share growth by the organic fruits and vegetables segment will be significant during the forecast period. Over the course of the forecast period, the segment’s growth is anticipated to be fueled by the growing concerns surrounding artificial preservatives and additives. Originating in developed nations like North America and Europe and later spreading to developing nations like China and India, organic foods are gaining popularity worldwide. Fresh fruits and vegetables that are organic have more advantages over conventional, non-organic fruits and vegetables. Despite their high price, these benefits are driving up demand for organic fresh fruits and vegetables. Hence, during the forecast period, an increase in the consumption of organic fruits and vegetables is anticipated
Market driver
The market is driven by the rising number of new product launches. Successful new product launches will boost vendors’ revenue streams and market shares. For instance, Grain Forests’ new organic products were introduced in July 2022 in an effort to connect the remote farm with the city. Moringa powder for daily nutrition, sprouted ragi for babies, a health mix for diabetics, and ragi dosa for a filling breakfast are just a few of the new additions. Similarly, the first zero-sugar organic ultra-filtered milk was introduced in 2021 by Maple Hill Creamery, America’s original 100% grass-fed organic dairy brand. With its most recent product innovation, Maple Hill offers consumers an organic milk option that contains no sugar, no additional sweeteners, and no carbohydrates. Thus, the rising number of new product launches in the various segments of the market will drive the growth of the market during the forecast period.
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Organic food and beverages market– Vendor Landscape
Technavio has extensively analyzed 15 major vendors, including Agrowave Organic Vegetable and Fruits, Amys Kitchen Inc., Archer Daniels Midland Co., Ardent Mills LLC, Arla Foods amba, AUGA Group AB, Aurora Organic Dairy, Bunge Ltd., Cargill Inc., Danone SA, Del Monte Pacific Ltd., General Mills Inc., Hometown Food Co., Kellogg Co., Maple Hill Creamery LLC, Mehrotra Consumer Products Pvt. Ltd., Nestle SA, ORGANIC India Pvt. Ltd., Organic Valley, PepsiCo Inc., Premium Brands Holdings Corp., PS Organic, The Coca Cola Co., The Hain Celestial Group Inc., The Hershey Co., United Natural Foods Inc., and Drakes Organic Spirits Inc.
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Key Benefits for Industry Players & Stakeholders –
- The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
- It also provides detailed analyses of the market’s competitive landscape and vendors’ product offerings.
- The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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Customer Landscape – Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio
- One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.
- Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
- Furthermore, market adoption rates for all regions have been covered.
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What are the key data covered in this organic food and beverages market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the organic food and beverages market between 2023 and 2027
- Precise estimation of the size of the organic food and beverages market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the organic food and beverages market industry across APAC, Europe, North America, Middle East and Africa, and South America
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of organic food and beverages market vendors
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Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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