Global Organic Food Products | Market Share, Trends, Type and Forecast 2019-2024
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Global Organic Food Products Market (2019-2024) Share, Scope, Revenue, Trends, Drivers, Challenges, Segmentation based on Product Types (Fruits, Vegetables and grains, Dairy, Beverages, Ready-to-eat, Meat and eggs, Others) Distribution channel (Supermarkets, Speciality stores, E-commerce, others) and Geography (North America, Asia Pacific, The Middle East and Africa, Europe and Latin America)
In recent years, organic food products have been contributing significantly to the global food industry. This is mainly due to improved awareness regarding the detrimental effects of consuming the chemicals that are used to produce and store food products. Consumers have also become more health-conscious and show interest in the nutrition contents of the food products they consume. Organic food products are fresh, free from chemicals, and have more nutritional benefits compared to conventional food. The organic food products market is projected to expand at a CAGR of 15.4% during the forecast period (2019-2024) and will reach a value of USD 303 Bn by 2024.
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Distribution channel segment insights:
Individual customers are the bulk of the customer base, with the rest accounted for by restaurants. Supermarkets are the most preferred distribution channel for organic food products, mainly due to their ability to allocate higher advertising budgets, extensive product stocks, and investments in advanced storage facilities.
North America and Europe are mature markets that dominated the global organic food products sector with market shares of XX% and XX% respectively, in 2019. Moreover, most of the key players in the market are based in these regions. The organic food products market in the Latin America and Asia-Pacific region are expected to exhibit higher growth rates in comparison to the other regions, owing to the abundant availability of organic farmlands, and high production volumes. Moreover, customers’ changing tastes, primarily because of a higher number of millennials, is expected to influence purchase preferences in favor of organic food products.
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Last Update : 23 November 2019
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|Item Owner : Prachiti Sharma|
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