May 15,2023 | Food
Factors such as growing health consciousness and environmental concerns among the consumers and the rise in awareness about the negative effects of consumption of chemicals present in food items are driving the demand for the global organic farming market. Also, the rapid adoption of advanced technologies and equipment by the agriculture industry and favourable government policies are expected to influence the market demand.
Organic farming is an alternative practice of farming livestock produce and crops and does not use pesticides, genetically modified organisms, antibiotics, artificial fertilizers to boost yield, or use genetically modified (GM) ingredients or irradiate food. They are considered beneficial for health and the environment, thereby witnessing massive demand from all over the globe. Consumers prefer to consume certified organic products due to growing consumer awareness and the implementation of strict food safety regulations by leading authorities of several economies. Also, the entry of large market players into the organic food industry is expected to create lucrative growth opportunities for the global organic farming market.
The Organic Food Market in India was valued at INR 97.34 billion in 2022. It is expected to reach INR 287.33 billion by 2027, expanding at a CAGR of 16.27% during the 2023 – 2027 forecast period. The organic food market in India is currently a niche market, but it is expected to grow in the coming years. The market is expanding rapidly due to rising consumer demand for healthy, chemical-free foods and the increasing penetration of organic food products.
Due to its diverse agro-climatic conditions, India has enormous potential for producing a wide range of organic products. With the rising demand for organic food, companies are launching a wide range of products to meet customers' nutritional needs and tastes and capitalizing on market opportunities. The growing health consciousness among consumers is also a major driving force in the Indian organic food market
However, due to higher labour inputs per unit of output and the inability to attain economies of scale owing to the greater variety of businesses, organic food production prices are often higher. People prefer online ordering instead of traditional purchasing, and these products take time to reach the marketplace due to commuting long distances. For this reason, organic farmers need to find local channels for distributing their products which may not always be possible.
Bharatbook provides a comprehensive business report, which is useful in providing answers to several critical questions that are important for industry stakeholders such as organic food providers, suppliers, distributors, and other stakeholders. The study would enable the stakeholders in strategizing investments and capitalizing on emerging market opportunities, along with helping to identify drivers and challenges. In addition, the market is divided into type, method, source, ownership, crop type, company, and regional distribution.
To get more information on the market, please visit Organic Food Market in India