Organic Food and Beverages: Market to grow at 15.7 Percent

Via: EIN News

According to the new report published by Grand View Research, the global organic food and beverages market size will reach $211.44 billion By 2020, growing at CAGR of 15.7%, growing popularity of the product among consumers owing to health benefits associated with its consumption is expected to drive the market demand over the forecast period.

Increasing consumer awareness regarding ill effects of inorganic food on human health has compelled consumers to adopt organic food & beverages. Growing popularity of the product among consumers owing to health benefits associated with its consumption is expected to drive the demand over the forecast period. Moreover, regulatory support to organic farming is also expected to have positive influence on industry by improving supply and product quality.

Organic fruits and vegetables accounted for more than 35% of revenue share and hence was the dominant product in 2013. However, increasing consumption of poultry, meat and fish, the meat segment is expected to grow substantially at a CAGR of more than 13% over the forecast period.

Non-dairy beverages such as rice, oat beverages and soy accounted for 43% of the total organic beverages market in 2013. However, organic beer and wine is projected to grow substantially at a CAGR of more than 23% over the forecast period. Global market for organic coffee and tea is expected to grow at a CAGR of over 20% over the forecast period. Global market for organic frozen and processed food is poised to grow at a CAGR of more than 11% over the forecast period. See the rest of the article.

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