by The Organic Farming Market is estimated to be valued at US$ 187.7 Bn or billions 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 certain practices that foster cycling of resources, promote ecological balance, and conserve biodiversity. Organically grown foods are produced without using most conventional pesticides, fertilizers made with synthetic ingredients or sewage sludge, bioengineering, or ionizing radiation. Organic food production systems rely on crop rotations, crop residues, animal manures, legumes, green manures, off-farm organic wastes, biological pest control measures and mechanical cultivation to maintain soil productivity and control pests and weeds.
Market Dynamics:
Growing health awareness among consumers regarding the use of pesticides and chemicals in foods is expected to drive the growth of the organic farming market over the forecast period. Consumers are becoming increasingly aware of the ill-effects of consuming food items with chemicals and are opting for chemical-free organic foods. Moreover, increasing consumer inclination towards sustainability is also favoring the market growth. Organic farming practices help in environmental protection by reducing pollution and conserving biodiversity. It also aids in improved soil fertility through practices like crop rotation and use of organic manure. These benefits are contributing to the increased adoption of organic farming practices worldwide.
Segment Analysis
The organic farming market is dominated by the crop segment owing to increasing demand for organically grown fruits and vegetables. Within the crop segment, organic fruits and vegetables constitute the largest sub-segment due to rising health consciousness among consumers and growing preference for chemical-free food products. Consumers are willing to pay premium prices for organic fruits and vegetables due to associated health benefits.
Pest Analysis:
Political: Supportive government policies for organic farming in various countries are promoting adoption of organic practices. For instance, the Indian government’s Paramparagat Krishi Vikas Yojana (PKVY) program.
Economic: Rising disposable incomes and growing health awareness are driving demand for expensive but chemical-free organic food products globally. Higher export opportunities for organic products internationally.
Social: Growing consumer preference for chemical-free food due to health and wellness trends. Increasing adoption of sustainable agricultural practices.
Technological: Advancements in organic farming techniques such as precision farming, organic fertilizers and biopesticides are helping farmers boost yields and promote large-scale organic production.
Key Takeaways:
Organic Farming Market Size is expected to reach US$ XX Billion by 2030, expanding at a CAGR of 10% during the forecast period. The growth is attributed to increasing health consciousness among consumers and rising demand for chemical-free agricultural products.
Regionally, North America dominated the organic farming market in 2023 with over 30% share. Europe was the second largest market led by countries like Germany. Asia Pacific is expected to witness fastest growth owing to supportive government policies in countries like India. Initiatives like Paramparagat Krishi Vikas Yojana (PKVY) are promoting large-scale organic agriculture in the region.
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. Major players are investing in R&D and new product launches in order to consolidate their market positions. Partnerships with regional farmers are also being pursued to ensure sufficient organic produce supply.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
