The global Organic Farming Market is estimated to be valued at US$ 187.7 Bn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Organic farming involves cultivation of plants and rearing of animals in natural ways without the use of synthetic fertilizers and pesticides. It is a way of promoting environmental sustainability along with zero residue production of grains, vegetables and livestock.
Market key trends:
One of the major trends in the Global Organic Farming Market Size is growing popularity and consumption of organic food. With rising health concerns among consumers regarding chemical residues, genetically modified foods and long-term effects of synthetic inputs, demand for chemical-free organic foods is increasing significantly. Various studies have shown that organic foods have higher nutritional value compared to conventional produces and are safer for human and environmental health. Increasing preference towards natural and clean-label products is expected to drive the organic farming market during the forecast period.
SWOT Analysis
Strength: Organic farming is environmentally friendly and sustainable as it avoids the use of synthetic pesticides and fertilizers. It helps to improve soil fertility and quality of crops in the long term.
Weakness: Organic farming has lower per acre crop yields as compared to conventional farming. It also requires more labor and management practices.
Opportunity: There is a growing global demand for organic and chemical-free food products due to rising health consciousness. The market is expected to grow at a robust rate in the coming years.
Threats: Organic farming is heavily dependent on weather conditions. Unexpected rains or droughts can damage crops. Certification process for organic products is complicated and expensive.
Key Takeaways
The global organic farming market is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing health consciousness among consumers regarding chemical-free food and environmental protection.
Regional analysis:
North America dominates the global organic farming market currently due to strong consumer preference for organic food in the US and Canada. Europe is the second largest market driven by regulations supporting organic farming. Asia Pacific is expected to grow at the fastest pace during the forecast period with China, India emerging as key producers and consumers.
Key players operating in the organic farming market are Picks Organic Farm, Organic Farmers Co., The Indian Organic Farmers Producer Company Limited (IOFPCL), Bayer AG, Camson Bio Technologies Limited, and ZUWA Organic Farms Pvt. Ltd among others. In 2023, the global organic farming market size is estimated to reach US$ 187.7 Bn.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it