Consumer Trends: Organic Food & Drink Market Trends
ALBANY, N.Y. (PRWEB) — Transparency Market Research has launched a new market report titled "Organic Food (Fruits & Vegetables, Meat, Fish & Poultry products, Dairy products, Frozen & Processed foods, & Others) & Organic Beverages (Non - dairy beverages, Coffee & Tea, Beer & Wine, & Others) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019". According to the report, the demand for organic food & beverages was valued at USD 70.70 billion in 2012 is expected to reach USD 187.85 billion by 2019, growing at a CAGR of 15.5% from 2013 to 2019.
The global market has witnessed growth in recent times due to increasing consumer health awareness. In addition, widening distribution channels and increased government regulation and intervention are some of the other factors contributing towards the market growth. Shorter shelf life of the organic products and high prices of the raw materials are the major growth barriers of the market. However, increased R&D efforts for new products development provides huge market opportunity for the market players.
In 2012, organic food dominated the global market and accounted for 80.6% share of the overall demand. Organic fruits & vegetables led the food segment and accounted for 38.9% share of the market and are expected to maintain their dominance over the next six years. Organic dairy products are expected to grow at a CAGR of 14.1% from 2013 to 2019 due to advancement in technologies which provide products with an extended shelf life. Organic meat, fish & poultry products occupied a very small share in the current market but are expected to increase their market share in future due to development of new and innovative products in this segment and is expected to exhibit the fastest growth rate of 14.6% from 2013 to 2019.
Organic coffee & tea and non dairy beverages were the market leaders in the organic beverages space. Organic coffee & tea accounted for 39.8% of the total beverage revenue share in 2012. Organic beer & wine beverage are expected to grow at a rate of 24.5% from 2013 to 2019. Organic beverages markets are witnessing growth due to increasing consumer awareness regarding health benefits associated with it. Moreover, due to their finished quality and better formulation flexibility, the market is witnessing a steady rise, which leads them to gain a significant position in the market.
Organic foods are produced using animal and environment friendly farming methods. Globally, organic farming is practiced in 162 countries. In 2011, there were 37.2 million hectares of organically managed farmland and organic farming accounted for 0.86% share of the agricultural land. The report provides a strategic analysis of the global market for organic food & beverages, and growth forecast for the period from 2013 – 2019.
The market is segmented into organic food and organic beverages. In organic food the market is broadly segmented into organic fruits & vegetables, organic meat, fish & poultry products, organic dairy products (milk, yoghurt, cheese, butter, and ice cream), organic frozen & processed food and others (condiments, tofu, sweeteners and seasonings). Organic fruits & vegetable accounted for more than 36% share of the market and organic meat, fish & poultry products is expected to exhibit the fastest growth rate among other products. Organic beverages market is segmented into organic non - dairy beverages, organic coffee & tea, organic beer & wine, and others (beverages excluding beer & wine). Organic coffee and tea accounted for more than 35% share of the global organic beverages market.