The Growing Number Of Health-Conscious Consumers Will Propel The Organic Food Market Forward - By The Business Research Company

The Growing Number Of Health-Conscious Consumers Will Propel The Organic Food Market Forward - By The Business Research Company

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

LONDON, March 21, 2023 /PRNewswire/ -- As per The Business Research Company's Organic Food Global Market Report 2023, the increase in the awareness of fitness among people and the growing number of health-conscious consumers are expected to drive the organic food market during the forecast period. For example, a 2018 consumer food and beverage survey, by L.E.K., a US-based management consulting company, of nearly 1,600 consumers showed that they want health claims to be more nuanced and convey specific attributes. Nearly 93% of respondents stated that they feel obligated to eat healthily at least some of the time. Also, 63% stated that they strive to eat healthily most of the time, if not always. Consumers are aware of labels, regardless of their level of commitment, with 47% reading labels at least most of the time when purchasing a product.

Due to rising awareness of health-conscious foods and rising penetration of retail as well, the global organic food market size will grow from $259 billion in 2022 to $294.5 billion in 2023 at a compound annual growth rate (CAGR) of more than 13%. The organic food market share is then expected to grow from $512 billion in 2027 at a CAGR of more than 14%.

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Owing to rising in consumer awareness on health-conscious food, manufacturers in the organic food market are focusing on launching zero-calorie soft drinks to cater to health-conscious consumers. As a healthy option, the demand has shifted from sugar-filled soft drinks products towards alternative zero-calorie soft drinks. For instance, in May 2020, CLEAN Cause beverages, a US-based premium beverage company, launched a new Zero Calorie lineup of sparkling, organic, Yerba Mate drinks. Three new flavors, Cherry Lime, Orange Ginger and Berry Mint, all contain zero calories, zero sugar and zero carbs. The new Zero Calorie line has 160 mg of naturally occurring caffeine. They are available in a 16-ounce size for a suggested retail price of $2.99.

In addition, beverage segments in the organic food market companies are venturing other segments as well. For instance, in March 2023, US based plant-based chicken company, Daring Foods, has launched new varieties of plant-based frozen prepared entrées such as daring plant chicken teriyaki bowls, fajita bowls, penne primavera pasta bowls, and an autumn harvest bowl, in order to expand the company's portfolio.

According to organic food market analysis, the top opportunities in the organic food market segmented by product type will arise in the organic fruits and vegetables segment, by distribution channel will arise in the conventional retailers' segment. The organic food market size will gain the most in China at $50.7 billion. 

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