According to a new report titled the ‘Organic Food & Beverages Market Analysis and Segment Forecasts to 2020,’ the organic food market is expected to experience major growth by that time period and is currently undergoing a major growth phase in general.
The report projects that a growth rate of nearly 16 percent is expected in the organic food (and beverages) market by the year 2020, leading to an impressive new total sales amount.
The organic industry is projected to reach an estimated total value of $211.44 billion by 2020, the report says, echoing other recent projections.
“Growing adoption of organic food & beverages owing to associated health benefits and eco-friendly characteristics is expected to drive demand over the next six years,” noted Grand View Research, which released the new report.
Among the factors driving the recent growth for the industry is the increased adoption of organic fruits and vegetables, which accounted for over 35% of global market revenue in 2013.
The biggest growing sector for organic is expected to be organic meat, fish & poultry, which is estimated to have a Compound Annual Growth Rate of 14.6% from 2014 to 2020.
Another trend driving the growth of organics is the increasing popularity of non-dairy beverages such as soy, coconut, rice and oat milks, which have account for over 38% of total organic beverages market revenue according to 2013 statistics. These beverages are expected to have an estimated CAGR of 25.6% until 2020, although some organic watchdog organizations have sounded the alarm about the use of carrageenan, a thickening agent linked to cancer and stomach irritation, in many of these products.
Organic coffee and tea markets are also expected to grow at a CAGR of 22.5% leading up to 2014 according to the report.
Altogether, Asia Pacific is expected to be the fastest growing market for organic foods and beverages, however, with an estimated CAG of 28.5%.
Also of note is a recent UN report entitled ‘Wake Up Before It’s Too Late,’ which urged an imminent shift to organic agriculture to help feed the world, a plan in direct opposition to the stated goal of Monsanto and other companies that claim their genetically modified crops are used to feed growing populations. You can read the UN Report here.
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