AUGUSTASIA BUSINESS OUTLOOK19TARGET AGRICULTURE According to a report published by Precedence Research, the global organic food market size is expected to be worth around $497.3 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 12.06 percent until 2030. Several factors have contributed to the growth of this sector. Increased awareness among the population about the various advantages of going organic is one of the most important factors for this. When it comes to Asia, there is an abundance of naturally occurring raw material that makes it easier for companies to resource the same and process it for human consumption. However, there are a few problems that are creating a negative impact on the organic products market. There is inconsistency in supply chain management wherein farming communities are facing problems in getting the raw materials to the processing units. COVID-19 and recession in many countries in the world have also impacted the logistics sector which is yet to be solved. There is need for such businesses that will go hand in hand with the farming communities and create a local presence for procuring raw materials through efficient supply chain management.2023MOST PROMISING ORGANICBRANDS FROM VIETNAM
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