Organic foods have been grown or farmed without the use of artificial chemicals, hormones, antibiotics or genetically modified organisms. Over the last decade, use of chemical pres...
Global organic food market is projected to grow at a CAGR of over 16 percent through 2020, according to TechSci Research's report. Rising lifestyle diseases coupled with excessive contamination of conventional food are driving organic food sales, globally. Retail chains are also playing a major role in boosting sales of organic food by creating awareness and introducing various private label organic products at lower prices. Major retail chains such as Whole Foods Market, Tesco, and Walmart, among others, have also expanded their product lines to include organic food products. In order to offer choice and convenience to health conscious consumers, adoption of organic food is also growing considerably across hotels and restaurant chains. Segment wise, organic fruits & vegetables continue to dominate the global organic food market, followed by processed food, dairy products, pulses & food grains, and beverages segments. Global organic food & beverage market is expected to reach USD211.44 billion by 2020, according to a recent report by Grand View Research. Increasing consumer awareness regarding ill effects of inorganic food on human health has compelled consumers to adopt organic food & beverages. Growing popularity of the product among consumers owing to health benefits associated with its consumption is expected to drive the demand over the forecast period. Moreover, regulatory support to organic farming is also expected to have positive influence on industry by improving supply and product quality. 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, according to a recent report by Transparency Market Research. 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. On the basis of geography, Europe has been leading the market with the maximum amount of revenue.