Published on : Mar 04, 2016
In recent times, there has been a change in the perception of consumers towards organic foods and beverages. As more and more people are increasingly aware about the harm that chemical fertilizers can do, organic foods and beverages are their preferred choice of food. An increase in the concern over environmental issues such as water conservation and soil pollution has also promoted the organic food and beverages market. The tightening government regulations regarding the usage of artificial flavors and harmful ingredients are also proving to be of some aid to the organic foods and beverages market.
Asia Pacific Organic Foods and Beverages Market to Grow From 2013 to 2019
According to a report published by Transparency Market Research (TMR), the organic foods and beverages market is expected to witness a CAGR of 28.2% between 2013 and 2019 due to the growing consciousness among the people towards the environment and green movement. More and more people are displaying an affinity towards organic ingredients and thus the market is expected to grow, majorly because of high contribution from Japan, India, China, and Australia.
Organic Beer and Wine Market Segment to Offer Lucrative Growth Opportunities
Organic tea and coffee, and non-dairy beverages together contributed to 75% of the total market share in 2012. However the tea, coffee, and non-dairy segment will face a stagnant growth owing to no new product launch or innovation in the segment. According to the forecast by TMR, the beer and wine market segment is anticipated to expand at a CAGR of 24.5% during the period 2013 to 2019, thus driving the market for organic beverages.
Extended Shelf Life of Organic Products Drives the Organic Foods and Beverages Market
Due to advancements in technology, organic foods come with extended shelf life, which is bound to drive the market for organic food and beverages by 2019. Supermarkets and grocery stores today, need to have supplies for both the fanatic cooks and the time-harried working woman. As such, the demand for nutritionally superior, yet foods with a longer shelf life is desired. Organic foods and beverages perfectly fit the demand of such consumers. With increasing disposable income, consumers do not mind spending extra bucks for organic food items that have extended shelf life.