Forecast: Organic Food and Beverages Market to Surpass USD 504.1 Billion by 2032

World 29.04.2024

Source: The DairyNews

A notable driver fueling market expansion is the increasing consumer awareness regarding the use of chemicals in crop cultivation. These chemicals serve various agricultural purposes, but their heightened usage not only affects soil quality but also poses risks to consumer health, potentially leading to long-term issues like foodborne illnesses and cancer. As stakeholders in the organic food and beverages industry, your role in promoting consumer awareness and supporting organic farming practices is pivotal for market growth and success.

Forecast: Organic Food and Beverages Market to Surpass USD 504.1 Billion by 2032

Another catalyst for market growth is the shifting perception of organic food consumption from a trend to a lifestyle choice. With rising disposable incomes globally, individuals are opting for healthier food alternatives, empowered by their purchasing capabilities. Millennials and Generation Z, in particular, are embracing healthy and organic lifestyles due to heightened awareness. Consequently, this increased awareness and preference for healthy eating habits are expected to drive significant market demand for organic food in the forecast period, with fruits and vegetables leading the segment.

The industry is categorized into organic food, including fruits, vegetables, meat, fish, and poultry, and organic beverages, including non-dairy beverages, coffee, tea, and others. Hypermarkets witnessed substantial growth in 2023.

In terms of distribution channels, the industry is fragmented into hypermarkets/supermarkets, specialty stores, convenience stores, and online sales, with hypermarkets leading the segment and projected to maintain a significant position in the forecast period.

Key highlights from the organic food and beverages market report include:

Anticipated market growth at a CAGR of 8.9% by 2032.
High demand for organic food products and increased consumer awareness driving industry growth.
North America leading the organic food and beverages market.
Prominent players include Dole Food Company Inc., General Mills Inc., United Natural Foods Inc., Nestle, The Hershey Company, Danone, Eden Foods, Dairy Farmers of America Inc., Dean Foods Company, SpartanNash Company, among others.