In the present year 2023, the organic food and beverage market is valued at $250 billion, with a projected compound annual growth rate (CAGR Prenatal vitamin supplements are becoming more and more popular as the value of a mother’s diet during pregnancy becomes more well recognized. These supplements supply the vital vitamins and minerals required for both the mother’s health and the development of the fetus. Pregnant women now have a variety of options to choose from, thanks to advances in product formulation and increased demand. As more women prioritize the health and well-being of their unborn children, the sector is expected to grow.
Prenatal vitamin supplement sales are anticipated to rise from an estimated US$ 522 million in 2022 to a projected USD 1.04 billion by 2032, a 7.1% compound annual growth rate (CAGR) on a global scale.
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China, India, and Japan have the three largest economies in terms of government spending on the production of organic food. There is also a considerable trend towards the production of organic foods and beverages in these most populous countries. Additionally, a notable rise in frozen food consumption brought on by a lack of time for cooking and preparation is opening up new markets for organic frozen food products in the neighbourhood supermarkets and hypermarkets.
Key Takeaways from the Organic Food and Beverages Market Study
- The greatest CAGR is anticipated to be seen in the Asia-Pacific region throughout the projection period by the rapid adoption of organic farming methods in China and India.
- Now organic fruits and vegetable segment dominates the market by contributing more than 40% of the revenue generated, while the organic meat & poultry segment is poised to take over later by growing at a rate of 15% through 2033.
- The contribution of offline distribution channels has come down to 50% in the past few years and the online distribution channel is projected to grow at a rate of 14% during the forecast years.
Competitive Landscape for the Organic Food and Beverages Market
The Whole Foods Market L.P., THE HERSHEY COMPANY, Amy’s Kitchen, Inc., Organic Valley, Conagra Brands, Inc., Nestlé, Eden Foods, SunOpta, Dole Food Company, Inc, Dairy Farmers of America, Inc., General Mills Inc., Danone, United Natural Foods, Inc., Gujarat Cooperative Milk Marketing Federation (Amul), EVOL Foods, Eden Foods, Starbucks Corporation, Nature’s Path Food, WhiteWave Foods Co., Hain Celestial Group, Inc., Dean Foods Company, SpartanNash Company, Amy’s Kitchen, Inc., and the Kroger Co. are some of the top companies operating in the organic food and beverage sector. Additionally, in the contemporary world, many private-label organic drink companies are becoming more well-known on a broad scale.
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Recent Developments in the Organic Food and Beverages Industry
Sunopta Company, which is a pioneer in the production of healthy fruit- and plant-based meals and drinks, released OatGold TM in the market in March 2020 as a nutrient-rich powder and is used to make a variety of items, including baked goods, salty snacks, and sandwich spreads.
The purchase of Assan Foods by The Kraft Heinz Company from a privately owned Turkish company named Kibar Holding was revealed in June 2021. With this takeover, the business hopes to broaden its market reach internationally while concentrating on improving food quality and customer service.
In April 2020, Amy’s Kitchen introduced veggie-loaded pizzas that are gluten-free and are prepared using organic sweet potatoes, broccoli, and other condiments. According to another announcement by Amy’s Kitchen, in November 2020, it has plans to invest in a new pizza manufacturing plant in San Jose, California, particularly for the production of frozen organic meals and shelf-stable soups
Nature’s Path Company introduced Regenerative Organic Certified Instant Oatmeal in April 2020. Nature’s Path is also dedicated to eco-friendly packaging and has developed a business model around carbon neutrality, and ecological giveback initiatives in support of their belief that combating climate change should start with the foodstuff we produce and consume.
Key Segments
By Product Type:
- Organic Fruits and Vegetables
- Organic Meat, Fish and Poultry
- Organic Dairy Products
- Organic Frozen and Processed Foods
- Organic Non Dairy Beverages
- Organic Coffee and Tea
- Organic Beer and Wine
- Other Organic Food and Beverages
By Process:
- Processed
- Unprocessed
By Distribution channel:
- Supermarket/Hypermarket
- Specialty Stores
- Convenience Stores
- Online Sales Channel
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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