Organic Farming Market - Forecast (2024 - 2030)
Organic Farming Market Overview:
The Organic Farming Market size is estimated to reach USD188 billion by 2030, growing at a CAGR of 7.8% during the forecast period 2023-2030. Organic Farming is a method that is primarily aimed at producing crops by integrating biological crop management processes and bio-pesticides?to maintain soil fertility & promote sustainable agriculture with the use of organic wastes (crop, animal and farm wastes). The biological materials along with beneficial microbes (bio-fertilizers) are used to release nutrients to crops for increased sustainable production in an eco-friendly pollution-free environment. Based on farming type, it is segmented into Pure Organic Farming and Integrated Organic Farming.
Increasing demand for chemical-free, organic crop nutritional food products along with rising inclination towards sustainable agriculture among farmers is set to drive the growth of the Organic Farming Market. Awareness campaigns are advising producers to minimize the use of synthetic bio-stimulants, genetically modified seeds and soil disinfection sources because of their harmful after-effects. The Food and Agriculture Organization, in its report “The world of Organic Agriculture 2021,” stated that organic agriculture is practiced in 187 countries and 72.3 million hectares of agricultural land were managed organically by at least 3.1 million farmers. Initiatives such as the Ecological Organic Agriculture Initiative helped about 1.76 million farmers by providing information about soil fertility & organic weed management to enhance their knowledge on adopting organic farming practices. This represents the Organic Farming Industry Outlook.
Organic Farming Market - Report Coverage:
The?“Organic Farming Market?Report - Forecast (2023-2030)”?by IndustryARC, covers an in-depth analysis of the following segments in the?Organic Farming Market.
Attribute
Segment
By Farming Type
By Farming Method
By Crop Type
By Application
By Geography
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COVID-19 / Ukraine Crisis - Impact Analysis:?
COVID-19 positively impacted global Organic Farming. People all over the world started adopting chemical-free, nutritious food to support their immune systems. During the COVID-19 pandemic, green policy implementation was accelerated globally to promote sustainable agriculture. The import and export services of organic food products have also spiked post-pandemic, which is leading to market expansion.
Key Takeaways:
Dominance of the North America Region
According to the Organic Farming market forecast, North America held the largest market share with 34% of the overall market in 2022. It is poised to dominate the market over the period 2023-2030 as well. This is due to increasing initiatives and investments by the U.S. authorities to promote sustainable agriculture through organic farming.?
Growing Consumer Demand for Organic Food Products Free of Chemicals
Based on Farming Type, the Pure Organic Farming segment held the largest Organic Farming market share in 2022. It is estimated to grow at the fastest CAGR of 7.6% during the forecast period 2023-2030. This is owing to the rising demand for chemical-free organic crop nutrition food items, enabling sustainable growth.?The Organic Farming Market trends include the implementation of food safety regulations and the introduction of initiatives in developing countries such as Africa to promote organic farming.
Increasing Adoption of Weed Management Techniques
As per the Organic Farming market analysis, the Weed Management segment is estimated to grow at the fastest CAGR of 7.9% during the forecast period 2023-2030. This is due to the introduction of convenient weed management methods such as mulching to enhance crop production and soil fertility.
Increasing Activities of Organic Food Import and Export to Drive the Market
According to India Brand Equity Foundation, India recorded the highest-ever horticulture production in 2020-21 which accounted for 331 million tons. India is currently the world's second-largest horticulture producer and fifth-largest country in terms of organic agricultural area. It has 2.3 million acres of certified organic agricultural land. From 2020 to 2021, the total organic exports were worth USD1.04 billion, which significantly contributed to market growth.
Introduction of Initiatives by Global Authorities to Promote Organic Farming
Global or national authorities and environmental authorities are collectively introducing initiatives to promote organic farming to have sustainable development and enhance soil fertility. The organic transition initiative is recently introduced by the U.S. Department of Agriculture along with Risk Management Agency and Natural Resources Conservation Service. It would educate and help farmers, leading to Organic Farming market opportunities.
High Cost to Hamper the Organic Farming market growth
The price of organic food is higher as the post-harvest handling, marketing and distribution chain for organic products is relatively inefficient and costs more due to small volumes. As per the Q2 2022 Organic Produce Performance Report, pricing has climbed nearly 7% year over year for the second quarter in 2022, contributing to a 2.8% dip in unit sales to 750 million versus a 0.2% uptick to 770 million a year earlier.
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Organic Farming Market. The top 10 companies in the Organic Farming market are: