Organic Farming Market is Anticipated to Witness High Growth Owing to Increasing Consumer Preference Towards Healthy Food Options

Organic Farming Market Growth

Organic farming involves growing and processing of food using natural methods that do not involve modern synthetic inputs such as genetically modified organisms (GMOs), synthetic pesticides and chemical fertilizers. It relies on crop rotation, compost, animal manure and biological pest control to maintain soil productivity and control pests on farms. Organic farming has gained huge popularity over the past few years owing to increasing awareness about the health hazards of consuming conventionally grown food and preference for chemical-free food options.

The Global Organic Farming Market is estimated to be valued at US$ 216.24 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Organic Farming are Heroux-Devtek Inc., Honeywell International Inc., Liebherr-International Deutschland GmbH, Raytheon Technologies Corporation, Nook Industries Inc., Parker Hannifin Corp., Electromech Technologies, Eaton Corporation PLC, Arkwin Industries Inc., Moog Inc., Woodward Inc., Safran SA, and Triumph Group. These key players are focusing on new product launches, mergers & acquisitions and partnerships to expand their global reach.

The key opportunities in the Organic Farming Market Growth include increasing consumer willingness to pay premium prices for organic food, adoption of organic farming practices by large food companies and rising export potential of organic products. Furthermore, expansion of organic farmland across major markets such as North America, Europe and Asia Pacific will continue to drive the organic farming market during the forecast period.

The growing global demand for organic food is encouraging organic farmers and producers across different regions to expand their operations internationally. Leading organic brands are focusing on overseas markets through direct exports and partnerships with local distributors to capitalize on lucrative growth opportunities. Countries including Canada, China, India and Brazil are emerging as highly attractive destinations for global expansion of organic farming firms.

Market drivers: Rising health consciousness has significantly increased the demand for chemical-free and nutritious food options. Stringent regulations restricting the use of synthetic pesticides and GMOs in many countries is fuelling adoption of organic farming practices.

Market restraints: Higher production costs associated with organic farming compared to conventional methods act as a major challenge. Organic farming is a knowledge-intensive process and lack of technical expertise amongst smallholder farmers hinders its widespread adoption. Certification requirements and compliance with organic standards add to the expenses for organic farmers.

Segment Analysis

Crop production segment dominates the organic farming market. This is because growing consumer demand for organic crops like fruits and vegetables, the substantial price premium for organic crops compared to conventionally grown crops encourage farmers to adopt organic farming practices for crop production. Organic livestock and poultry farming is the next prominent segment. The rising health concerns regarding chemical or drug residues in conventionally raised animal products are driving farmers towards organic livestock and poultry farming. Organic eggs and dairy products are gaining more traction in the market. With strict regulations imposed on the use of antibiotics and hormones in livestock, the organic livestock and poultry segment is expected to grow at a high rate during the forecast period.

Global Analysis

North America dominates the global organic farming market, with the US being the major market. Increasing health awareness regarding chemical-free foods, environmental protection, and growing demand for sustainable farming are the key factors propelling the organic farming adoption in North America. According to the USDA, the US organic farming market was valued at over US$ 47 billion in 2020. Europe is another leading region globally and is driven by EU regulations that promote sustainable agriculture. Countries like Germany Italy, France are major European markets for organic farming. Asia Pacific is identified as the fastest-growing regional market, led by countries such as India and China. Government support for organic farming through subsidies and certification schemes is fueling market growth in developing nations.

Get More Insights on- Organic Farming Market

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