The global organic food and beverages market size was US$ 256.1 billion in 2021. The global organic food and beverages market is forecast to grow to US$ 1281.3 billion by 2030 by registering a compound annual growth rate (CAGR) of 15.1% during the forecast period from 2022 to 2030.
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The U.S. Bureau of Economic Analysis and the U.S. Census Bureau reports that the goods and services deficit rose from $68.7 billion in January 2023 to $70.5 billion in February, an increase of $1.9 billion. Due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion, the goods and services deficit increased in February. The goods and services deficit has decreased this year by $35.5 billion, or 20.3% when compared to the same period in 2022. $10.8% more, or $49.5 billion, was exported. Imports cost $2.2% more, or $14.0 billion, than exports.
Factors Influencing the Market
Because organic foods and beverages are non-toxic and include no genetically modified organisms, they reduce health concerns such as cardiac arrest and diabetes (GMO). Such benefits are expected to fuel the growth of the organic food and beverages market. In addition, the fact that these food and beverages do not contain any toxic chemicals or pesticides that could harm humans will benefit the organic food and beverages market during the study period.
Excess consumption of inorganic foods will also decrease the environmental concerns, which will escalate their demand during the analysis timeframe. Further, the growing demand for sugar-free and caffeine-free beverages will benefit the organic food and beverages market.
Extensive R&D activities from leading manufacturers aiming at the advancements in product texture, high shelf life, taste, and nutritional value will also offer ample growth opportunities for the organic food and beverages market. On the flip side, the high cost associated with organic products may limit the market growth.
Growing disposable income and rising consumer purchasing power will drive the demand for organic food and beverages during the forecast period.
Regional Analysis
The Asia-Pacific organic food and beverages market is forecast to witness ample growth opportunities due to growing urbanization and rising disposable incomes of consumers in countries like China and India. Further, the demand for organic food and beverages is expected to increase in China due to the growing population. As a result, the market may unfold lucrative growth opportunities in the sector.
North America is forecast to have a significant impact on the organic food and beverage market due to rapidly growing economic growth of several nations. In addition to that, the growing purchasing power of consumers will drive the market forward during the study period.
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COVID-19 Impact Analysis
COVID-19 has had a tremendous impact on the organic food and beverage industry due to the uncertainties caused by declining consumer purchasing power. As a result, it changed the growth prospects for the organic food and beverages market. Further, rising awareness related to the importance of a strong immune system has raised the demand for more organic and natural foods. The pandemic is expected to have a long-term impact on the organic food and beverages market as it highlighted the need to adopt healthy dietary habits.
Competitors in the Market
? Cargill Inc.
? Danone,
? Dean Foods Company
? Starbucks Corporation
? ConAgra Brand, Inc.
? Kerry Group Plc
? Horizon Organic
? Nestle SA
? PepsiCo Inc.
? The Coca-Cola Company
? Other Prominent Players
Market Segmentation
The global organic food and beverages market segmentation focuses on Product, Packaging, Distribution Channel, and Region.
By Product Type
? Bakery and Confectionary
? Meat & Seafood
? Coffee & Tea and
? Beer & Wine
By Packaging Material
? Glass
? Plastic
? Paper
? Metal
? Others
By Distribution Channel
? Supermarkets/Hypermarkets
? Retail Stores
? Online Stores
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By Region
�?� North America
o The U.S.
o Canada
o Mexico
�?� Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
�?� Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
�?� Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
�?� South America
o Brazil
o Argentina
o Rest of South America
What is the goal of the report?
? The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
? During the forecast period, the report analyzes the growth rate, market size, and market valuation.
? The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
? The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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