U.S (New York) – New research study titled “US Organic Food Market” for the year 2023, encompassing various aspects such as industry size, market share, growth analysis, segmentation, leading manufacturers and innovations, key trends, market drivers, restraints, regulatory framework, distribution methods, opportunities, strategies, potential roadmap, and annual forecasts until 2031. The primary objective of this market research study is to thoroughly examine the industry, enabling businesses to gain comprehensive insights into the sector and its economic potential. By leveraging accurate statistical research data provided by Report Ocean 2023 to 2031, your business can experience accelerated growth. This report also delves into PESTLE & SWOT analysis, Porter’s Five Forces Analysis, and provides crucial information including expenditure, costs, revenue, and end-users. With over 150+ pages, the document offers a comprehensive table of contents, 180+ figures, tables, charts, and insightful analysis.
key players are [WhiteWave Foods Company, Hain Celestial Group, General Mills, Nature’s Path Foods, Amy’s Kitchen, Newman’s Own, Impossible Foods, Shenandoah Growers, Good PLANeT Foods, Rowdy Mermaid Kombucha
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Report Ocean revealed that the US organic food market was worth USD 52.3 billion in 2020. According to the study, the market is estimated to grow at a CAGR of 8.7%, earning revenue of around USD 95.1 billion by the end of 2027
Growing Shift Towards Organic Farming is Driving the US Organic Food Market Growth
Organic farming is gaining significant popularity in the United States. According to the Department of Agricultures National Agricultural Statistics Service, there were more than 14,000 certified organic farms in the US in 2016. Increasing awareness of the drastic impact of chemical fertilizers, pesticides, antibiotics, and other substances in conventional farming is influencing this shift towards organic farming. There is a high likelihood that this will increase the penetration of organic foods in the US market, which will boost the overall market
Increasing Availability of Organic Foods in Supermarkets Chains Projected to Boost Market Growth
A recent survey showed that around 82% of Americans buy organic foods and most of the sales is derived through conventional grocery stores. Even though the younger demographic is inclined towards popular online grocery stores, the availability of variety of organic food products under one roof at retail stores, club stores and supercenters are getting popular among consumers. As a result, major supermarket chains such as Walmart, Target, Costco, Kroger, and Safeway have been adding organic foods to their store shelves, improving consumers’ access to organic food, which is anticipated to boost the market growth during the forecast period.
US Organic Food Market – By Distribution Channel
Based on distribution channels, the U.S. organic food market is segmented into online channels and offline channels. The offline channel is further classified into supermarkets/hypermarkets, convenience stores, retail stores, and others. On the other hand, the online segment accounts for the largest market share because of the inclination of the younger demographic towards the convenience of door-step delivery. The organic food brands resort to popular grocery sites such as Amazon.com as well as launch their own websites to boost their market sales. They also offer great deals and discounts through online platforms, along with subscription services to attract consumers, which favors the segments growth.
Impact of COVID-19 on US Organic Food Market
The growth of the organic food market was hindered after the unprecedented outbreak of the COVID-19 pandemic. The sudden imposition of lockdown resulted in panic buying of products by the consumers, which resulted in a shortage of stocks from convenience stores and supermarkets. The restrictions on distribution channels also led to severe losses to the organic food companies. However, the organic food brands resorted to online sales channels to boost their sales and meet the growing needs of consumers amid the global health crisis. The demand for organic food is anticipated to proliferate in the post-COVID-19 period with increasing health consciousness among consumers.
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Market Segment:
By Product Type(Dairy, Bakery Products, Fruits & Vegetables, Snacks, Meats/Fish & Poultry, Sauce And Condiment, Processed Food, Packaged Food, Others)
By Distribution Channel(Online Channels, Offline Channels)
The market is highly concentrated among leading players such as WhiteWave Foods, General Mills, Hain Celestial Group, and holds a major share in the market. However, several organic food startups and small companies are emerging and are expected to give tough competition to big players in the coming years with their wide range of products. The companies constantly launch new products that meet the changing consumer needs and tastes. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, collaborations, etc., is also prominent in this market.
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
Threat of New Entrants:
- If the threat of new entrants is high, it indicates that buyers have more options and can easily switch suppliers, increasing their bargaining power.
- Industry details: An industry with low entry barriers and minimal regulatory restrictions may attract new entrants, which can give buyers more choices and negotiating power.
Bargaining Power of Suppliers:
- If suppliers have strong bargaining power, they can dictate terms and prices, reducing buyer power.
- Industry details: Industries with few suppliers, unique resources or expertise, or limited alternative suppliers may give suppliers more power, affecting buyers’ ability to negotiate favorable terms.
Bargaining Power of Buyers:
- If buyers have strong bargaining power, they can demand lower prices, better quality, or additional services from suppliers.
- Industry details: Industries with many buyers, low switching costs, or readily available alternatives can enhance buyer power and their ability to negotiate favorable deals.
Threat of Substitute Products or Services:
- If there are many substitute products or services available, buyers can easily switch, giving them more power.
- Industry details: Industries with numerous substitutes or evolving technologies that provide alternative solutions can give buyers the upper hand in negotiations.
Intensity of Competitive Rivalry:
- High competition among existing industry players can give buyers more options and bargaining power.
- Industry details: Industries with many competitors, slow industry growth, or low differentiation between products/services may result in intense rivalry, benefiting buyers.
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