The changing consumer preferences and trends, globally, and the rising acceptance of organic foods are increasing the consumption of organically produced food products. Nowadays, consumers are increasingly focusing on healthy aging by preventing and postponing the onset of diet-related diseases.
By Arijita Pani, Suraj Nagvenkar and Nagesh Manepalli of MarketsandMarkets.
The US has been dominating the market for a very long time, owing to its rapid acceptance among consumers and increasing spending power. The rising per capita income has influenced the growth of bio and organic products, as it has increased the buying power of consumers. Currently, the major demand for organic food products comes from developed countries, such as the US, Germany, the UK, and Japan. Due to the rising urbanization and growing economy, the middle-income population in developing countries is also on the rise. Consumers’ disposable income is rising in countries such as Brazil, China, and India. Due to this, people are willing to pay premium prices for organic products and more nutritious food over conventional food produced with chemical fertilizers and pesticides. This creates an opportunity for organic food manufacturers and processors to enter into these lucrative markets.
Nowadays, consumers prefer to consume food products that are free from chemicals. As a result, major supermarket chains, such as Wal-Mart and Costco, are increasing their product offerings of organic foods. This factor has increased organic retail sales in many countries, such as the US, Germany, China, Switzerland, and Denmark. According to the “United States Organic Food Market Forecast & Opportunities, 2018,” the western US drives the organic food market revenue due to the growing domestic production and increasing awareness. Among these, organic products such as fresh fruits and vegetables had been the top-selling category of organically grown food.
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