Growing popularity of non-GMO products among consumers, owing to the health benefits associated with their consumption, is expected to drive the demand. The global organic food market was valued at US$77.4 billion in 2015 and is expected to witness the highest growth in Asia Pacific from 2016 to 2025.
Fruits and vegetables dominated the global organic food market, accounting for over 37 percent of revenue share in 2015. Increasing consumption of meat and poultry products resulted in the fastest growth of this segment, which is expected to grow substantially at a compound annual growth rate (CAGR) of 13 percent over the forecast period.
Non-dairy beverages such as rice, soy milk, and oat beverages accounted for over 33 percent of the total share of organic beverages market in 2015. However, the beer and wine segment is projected to grow substantially at a CAGR of 13.5 percent over the forecast period owing to increasing global economic conditions and high consumption of a wide range of flavoured beverages.
Demand for frozen and processed food reached over US$11 billion in 2015 and is anticipated to witness significant growth over the next few years. The organic beverage market is estimated to exceed US$55 billion by 2025, and anticipated to grow at a CAGR of 13.1 percent. The coffee and tea segment is expected to emerge as the fastest growing sector with a CAGR of more than 15 percent during the forecast period.
The market in Asia Pacific is projected to witness fastest growth over the forecast period and account for over 12 percent of global revenue by 2025, due to the region’s growing agriculture sector coupled with robust consumer demand.