Published on : Dec 15, 2016
ALBANY, NY, Dec 15, 2016: The report gives the past, current, and estimated size of the market. It discusses the value chain analysis. In addition to this, market drivers, restraints, and trends are analyzed in detail. The impact of these drivers, trends, and restraints have been discussed. The future growth opportunities in the global organic food market have also been evaluated. In addition to this, the report studies Porter’s five forces analysis and this includes the degree of competition, threat of new entrants, threat of substitutes, bargaining power of suppliers, and bargaining power of buyers. The organic food market attractiveness analysis has also been given in the report.
Players in the global organic food market are focusing on new product development. In order to achieve innovation in products, manufacturers are investing in research and development. This is helping manufacturers to add newer ingredients and products to their portfolio. This is most likely to help companies increase their customer base. Companies are striving to achieve global expansion by means of partnerships and business alliances. These growth strategies are expected to enhance the product portfolio and increase the market share of companies. With an increasing number of vegetarians, players are expected to focus on tapping the vegetarian market.
According to the report, the global organic food market was worth US$88.1 bn in 2015. Among different food products, the fruits and vegetables segment was the most lucrative one accounting for 37% of the market’ value. The fruits and vegetables segment was worth US$32.6 bn in 2015. On the basis of geography, the U.S. and Germany are expected to be key contributors to the revenue. The stable economic growth in the U.S. and Germany are expected to drive the organic market in these countries.
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The growing preference for organic food is one of the key driving factors for the market. Various regulations by governments that strictly monitor and limit the use of additives and ingredients are also supporting the growth of the organic food market. Health conscious consumers are increasingly becoming concerned about the harmful effects of additives and chemicals in food and thus, a large number of farmers are shifting from age old farming practices, to produce organic food. However, organic food have short shelf life compared to inorganic food as these have synthetic preservatives. Another factor hampering the growth of the market is the high cost of organic food. Their affordability is limited to a selected class of consumers.
Some of the key players in the market are REWE Group, Casino Guichard-Perrachon S.A, Groupe Auchan S.A., Lawson, Inc., J Sainsbury plc, Costco Wholesale Corporation, Whole Foods Market, Inc., Wm Morrison Supermarkets PLC, and The Kroger Co.
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