Global Organic Food Market: Overview
In today’s world where everything is powered by the latest cutting-edge technology, farmers are heralding back to age-old practices in agriculture for greater good of humankind on this planet. This has been necessitated by a new crop of health-conscious consumers increasingly aware about the harmful effects of chemicals and other additives in food, farmers are now heralding back to age-old farming practices to produce what is known as organic food. From the seed to the soil or water and the final product, everything that goes into bringing organic food to the table is natural and free from pesticides, chemicals, and fertilizers.
On account of the antiquated methods used, organic food takes longer to produce and requires more care. As a result, they cost more than other foods that are produced in less amount of time with the use of various chemicals and fertilizers. Consumers who consider health to be of paramount importance, however, do not mind shelling out a little more for organic food products. According to the Transparency Market Research report, the global market for organic food will likely expand at a healthy rate in the coming years, especially in developed regions.
Global Organic Food Market: Drivers and Trends
Besides discerning consumers, an important factor driving the growth of the market are concerns about the environment. Pesticides used to thwart pests ranging from bacteria, insects, mites, and mollusks to birds and rodents that not just make their way into the human body but also accumulate in the soil and water. This damages the environment and hence, by consuming inorganic food, humans contribute to environmental degradation.
Organic food, on the other hand, is produced by farmers through reusable resources, limiting the use of harmful pesticides and chemicals in food. They are usually cultivated in small, family-run farms, wherein preservation of the quality of soil and water is of utmost importance so that future generations inherit fertile lands. Farmers also follow crop rotation methods to retain the fertility of the soil. Such form of farming reduces the toxic load on the environment. As a result, governments in many nations are funding organic farming. This, coupled with many private players foraying into the field as well as growing population pressure, has majorly boosted the market so far.
Global Organic Food Market: Geographical Outlook
On the basis of geography, the global organic food market can be divided into Asia Pacific, North America, Europe, and the Rest of World. Among them, Europe has been leading the market with the maximum amount of revenue. Economies in North America are expected to grow at a good clip too due to the substantial purchasing of the large middle class population there. It is the Rest of the World and Asia Pacific, however, that are predicted to outpace the two continents in terms of growth rate. Developed countries such as Japan, South Korea, Switzerland, the U.S., and Germany have so far witnessed maximum demand for organically grown food.
Key Players Mentioned in the Report
Some of the key players in the global market for organic food are Spartan Stores Inc, Hain Celestial Group Inc., United Natural Foods Inc., AMCON Distributing Co., Amy’s Kitchen, Whole Foods Market Inc., Clif Bar & Company, The Kroger Co., Inc, Dole Food Co., Inc., Frito-Lay, Newman’s Own, Inc., Dean Foods, and Organic Valley.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.