LONDON, Oct. 21, 2023 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the organic food market, the organic food market is fairly fragmented, with a large number of players in the market. The key players in the market are focusing on business presence in the market through development of innovative, efficient, reliable technologies to meet the customer demand. The top 10 companies in the market occupied 2.18% of market share in the global organic food market. Major players in the market include Organic Valley, The Kroger Co., General Mills Inc., The Hain Celestial Group Inc., United Natural Foods, Amy’s Kitchen Inc., Dole Food company, Riverford, Conagra Brands Inc., and Eden Foods.
The organic food market is witnessing a surge in mergers and acquisition activity. Large companies are acquiring small companies to increase their product and service offerings. Companies are driven to expand their products through acquisitions to maintain their position in the highly competitive food and beverages industry. Leading players with international presence are either acquiring or entering into partnership with specialized local players to diversify their product/service portfolio. For instance, in June 2023, NestFresh, a leader in sustainable, local, and humane eggs, has expanded its reach into the field of humane and sustainable food by acquiring New Barn Organics for an unknown sum. The organic, dairy-free company provides health-conscious buyers with almond milk, buttery spreads, and now eggs. Also, in January 2020, Oakland based organic food company Purity Organic, LLC acquired Dunn’s River Brands, LLC for an undisclosed amount. Through this acquisition Purity Organic will focus on delivering operational excellence, refreshing the Sweet Leaf Brand, and increasing market share across all its portfolio brands.
The Business Research Company’s report titled Organic Food Global Market Report 2023 – By Product Type (Organic Meat, Poultry & Dairy, Organic Fruits & Vegetables, Organic Bread & Bakery, Organic Beverages, Organic Processed Food, Other Organic Products), By Application (Conventional Retailers, Natural Sales Channels), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Store, Specialty Stores, Online Stores) COVID-19 Growth And Change covers major organic food companies, organic food market share by company, organic food manufacturers, organic food market size, and organic food market forecasts. The report also covers the global organic food market and its segments.
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Western Europe was the largest region in the global organic food market, accounting for 37.0% of the total in 2020. It was followed by the North America, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the organic food market will be the Middle East and South America where growth will be at CAGRs of 16.5% and 16.3% respectively. These will be followed by Asia Pacific and Africa, where the markets are expected to register CAGRs of 15.3% and 15.2% respectively.
The global organic food market is expected to grow from $201.77 billion in 2020 to $221.37 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The organic food market is expected to reach $380.84 billion in 2025 at a CAGR of 14.5%.
Organic foods have been gaining popularity as they offer consumers the advantages of fewer pesticides, fresher food without preservatives, and environmental advantages as organic farming is better for the environment since insecticides and pesticides do not seep into the soil. Further, organic meat and milk are richer in nutrients such as omega 3 fatty acids, and organic food is genetically modified organisms (GMO) free.
In developed economies such as the USA, the demand for organic food rose as people have become more conscious about health and hygiene. For instance, organic food specialist, Whole Foods plans to expand across the country with 43 stores across 19 states and Washington D.C., California will be home to 11 of the new locations, including three in San Francisco and two in Los Angeles. Most of the stores under development are in urban areas where the grocer already has a presence, like New York City and Washington, D.C., which are both expected to get two new stores.
Organic Food Global Market Report 2023 – COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provide organic food market overviews, organic food market analyze and forecast market size and growth for the whole market, organic food market segments and geographies, organic food market trends, organic food market drivers, organic food market restraints, organic food market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Here Is A List Of Similar Reports By The Business Research Company:
Food Ingredients Global Market Report 2023 – By Product Type (Starches, Vegetable Oils And Fats, Natural Sweeteners, Enzymes And Antioxidants, Natural Flavorings And Colors, Functional Ingredients), By Function (Sweeteners, Emulsifier, Flavors And Color Additives, Preservatives, Fat Replacers, Nutrients, Stabilizers, Thickeners, Binders, And Texturizers, pH Control Agents And Acidulants), By Application (Pharmaceuticals, Food And Beverages, Animal Feed), COVID-19 Growth And Change
Organic Fruit And Nut Farming Global Market Report 2023 – By Product Type (Orange Groves, Citrus Groves, Non-Citrus Fruit, Nuts), By Farming Type (Pure Organic Farming, Integrated Organic Farming), By Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores), COVID-19 Growth And Change
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