The rising demands of the organic food industry have been of critical importance to the public ever since the pandemic hit the world. In fact, there was a paradigm shift after the arrival of Covid. It is obvious that people became health conscious and started thinking about health and fitness. The unrefined food has a plethora of health benefits than conventional food. It makes the individual free from ailments to a larger extent and gives high immunity. The global organic food and beverages market size was valued at USD 231.52 billion in 2023 and is anticipated to grow with an impressive at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2030.
The change in view is likely to scale up the organic food and beverage market, which is predominantly composed of vegetables and fruits. Most importantly, among all the natural foods, vegetables and fruits occupy the biggest share of the market, followed by bread, cereals, milk, and meat. Even the developed nations have begun to produce and export organic foods and products by understanding the increase in demands.
There was a time when people couldn’t go out due to the restrictions imposed by the government on account of safety measures. This condition has been greatly utilized by the e-commerce industry, and the digital space has played a vital role in delivering organic food to the doorsteps of consumers and gaining a greater market share by serving the people. Even this activity paved the way for the formation of newer e-commerce ventures and made them a part of the market.
The Asian market is growing at a decent pace, with 15 percent growth every year, and the biggest market is China, which has been showcasing a surge in demand for organic food products over the last 10–15 years. Other significant markets for the organic food industry are in Japan, India, South Korea, and Taiwan.
It is imperative to know the Asia consumers mainly from the china region fears of food safety and has already undergone a large number of food scandals and this has become a positive growth factor in the region for the need of organic food. The Chinese market is very huge, which is a positive sign for upcoming entrepreneurs or investors who want to venture into it and profit off of it.
On the other hand, with the growing retail distribution in Asian nations, the trend has resulted in natural foods being extensively available to Asian consumers, and it has become par for the course for organic to be aggressively advertised by many hypermarkets and supermarkets in Asian nations such as Singapore, Hong Kong, and South Korea. As a result of this, the industry for organic food has gained popularity in Asia.
Increasing concerns in the agro chemical in food products leads to higher demand for organic foods. The Asian media is taking part in addressing various food production methods and green issues, which might induce food companies to enter the market.
The existing players have caused the supply of organic products to boom in conventional grocery channels. Furthermore, the standards have been set by Asian nations for organic products with labelling and certification. This gives newer companies a clear understanding of how to adapt to the situation and work accordingly to meet the challenging demands of Asian consumers.
Government has also supported the existing players as well as the new players in the form of incentives to the companies who wants to establish their presence to serve the customer base in China, India, and South Korea. The government also cares for the economic and environmental advantages of organic farming and encourages the switch from conventional food production to organic.
The thought process to spend the money on food has been changed over the years. Earlier mankind was not much health conscious and preferred whatever that tastes well. But now they pay more attention to their health, conscious of the nutrient content and quality of the food they consume. Due to various concerns, they geared towards organic food, even if the price is higher than processed foods.
Raising awareness about organic food is also producing a boost to the organic market, as people are ready to pay for sellers if they get an advantage for their health and wellness. Considering all this, the food industry is experiencing significant growth.
All in all, it is a fact that people will never compromise on food, as it is very important to stay healthy. There may be situations when people feel the food tastes good and need to consume more without knowing that it is not healthy. It leads to several health conditions that might become deleterious.
Although there are existing food companies in the Asian markets, the newer ones could also hit and produce organic foods or deal with supply whatever! Since the market is massive, the probability of gaining profit is high, which adds value to the consumer and results in a reasonable market share annually.
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