The global organic food & beverage market is expected to reach USD 320.5 billion by 2025, according to a new report by Grand View Research, Inc. Growing popularity of non-GMO products among consumers, owing to the health benefits associated with their consumption, is expected to drive the demand over the forecast period.
Fruits and vegetables dominated the global organic food market accounted for over 37% of revenue share in 2015. Furthermore, increasing consumption of meat and poultry products resulted in the fastest growth of the segment and is expected to grow substantially at a CAGR of 13% over the forecast period.
Non-dairy beverages such as rice, soymilk, and oat beverages accounted for over 33% of the total share of organic beverages market in 2015. However, beer and wine is projected to grow substantially at a CAGR of 13.5% over the forecast period owing to increasing global economic conditions and high consumption of a broad range of flavored beverages.
Further key findings from the report suggest:
The global organic food market was valued at USD 77.4 billion in 2015 and is expected to witness highest growth in Asia Pacific from 2016 to 2025
Fruits & vegetables emerged as the largest organic food product segment in 2015 and is estimated to generate revenue over USD 110 billion by 2025
Frozen & processed food demand was over USD 11 billion in 2015 and is anticipated to witness significant growth over the next few years
Beverage market is estimated to exceed USD 55 billion by 2025, and anticipated to grow at a CAGR of 13.1% over the next nine years
Coffee & tea is expected to emerge as the fastest growing sector with a CAGR of more than 15% from 2016 to 2025
The U.S. is the largest market in North America and was valued over 40 billion in 2015, owing to the growing consumer resistance for genetically modified and chemically grown crops in the region
The industry in Asia Pacific is projected to witness fastest growth over the forecast period and account for over 12% of global revenue by 2025. Asia Pacific is projected to witness highest growth on account of growing agriculture sector in the region coupled with robust domestic demand has led to significant demand for the product.
Key players including Whole Foods Market Inc., General Mills, Inc., Everest, Cargill, Inc., WhiteWave Foods, Danone, and United Natural Foods, Incorporated dominated the global organic food & beverage market