Organic food & beverage market to reach $211.44 billion by 2020
According to Grand View Research Inc. (grandviewresearch.com), the global organic food & beverage market is expected to reach USD 211.44 billion by 2020. Increasing consumer awareness regarding ill effects of inorganic food on human health has compelled consumers to adopt organic food & beverages. Growing popularity of the product among consumers owing to health benefits associated with its consumption is expected to drive the demand over the forecast period. Moreover, regulatory support to organic farming is also expected to have positive influence on industry by improving supply and product quality.
Organic fruits and vegetables accounted for more than 35% of revenue share and hence was the dominant product in 2013. However, increasing consumption of poultry, meat and fish, the meat segment is expected to grow substantially at a CAGR of more than 13% over the forecast period.