The global Organic Farming Market is estimated to be valued at US$ 187.7 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Organic farming involves growing and processing food using organic farming methods. It aims at cultivating the landscape, plants and animals through organic methods that do not involve modern industrial techniques or genetically modified organisms. Organic farming helps improve the nutritional value of crops and offers numerous health benefits.
Market key trends:
Demand for organic fruits and vegetables is rising significantly among health-conscious consumers globally. People are increasingly preferring organic foods over conventionally grown foods due to rising health awareness regarding chemicals used in conventional farming practices. Organic agriculture avoids the use of synthetic fertilizers and pesticides and relies on natural fertilizers such as compost manure. This reduces environmental pollution and yields crops that have high nutritional value. The market is witnessing rising adoption of organic fruits and vegetables due to their nutritional superiority over conventional ones.
Segment Analysis
The global organic farming market is dominated by the fruits & vegetables segment. This segment accounted for over 30% of the total market share in 2023 owing to the high demand for organic fruits & vegetables among health-conscious consumers. The cereals & grains segment is another major segment and is expected to witness significant growth during the forecast period on account of the increasing acceptance of organic cereals & grains in food & beverage applications.
Key Takeaways
The Global Organic Farming Market Share is expected to witness high growth, exhibiting a CAGR of 10% over the forecast period, due to increasing health awareness among consumers regarding the ill-effects of chemically grown foods. By 2030, the market size is projected to reach US$ 435.1 Bn.
Regional analysis
North America dominated the organic farming market in 2023 and is expected to continue its dominance during the forecast period. The increasing number of certified organic farmlands in the US and growth of organic food retail in Canada are fueling the demand for organic foods in the region. Asia Pacific is projected to be the fastest-growing regional market between 2023 and 2030 owing to the rising health consciousness in major countries like India and China.
Key players
Key players operating in the organic farming market are Picks Organic Farm, Organic Farmers Co., The Indian Organic Farmers Producer Company Limited (IOFPCL), Bayer AG, Camson Bio Technologies Limited, and ZUWA Organic Farms Pvt. Ltd among others. Companies are focusing on strategic partnerships and new product developments to strengthen their market position and cater to the growing demand for organic foods globally.
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https://www.ukwebwire.com/organic-farming-market-size-share-growth-outlook-2023/
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