The global Organic Farming Market is estimated to be valued at US$ 187.7 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Organic farming involves cultivation of plants and rearing’s of animals in natural ways by using natural fertilizers such as compost manure and crop rotation. It preserve long term soil fertility through emphasis on organic matter and minimized use of pesticides.
Market key trends:
One of the key trend in the organic farming market is growing consumer preference for organic food. Factors such as increasing health awareness, rising disposable income and changing lifestyles have shifted consumer preferences from conventional to organic food in recent years. As organic food is considered safer and more nutritious than conventional products, its demand has increased significantly. This rising demand acts as a primary driver for the adoption of organic farming practices.
Market key trends:
Organic farming has seen tremendous growth over the past few years owing to increasing consumer demand for chemical-free and healthy food products. One of the major trends in the organic farming market is the adoption of advanced technology in agriculture. Farmers are increasingly using drone technology, IoT-based sensors, GPS, and analytics to improve yield quality and optimize resource usage. Moreover, organic farming helps in environment protection by reducing pollution and conserving biodiversity.
SWOT Analysis
Strengths: Organic products have higher nutrition value and are completely free from chemicals. The organic farming process improves soil health and sustains long-term soil productivity.
Weaknesses: Organic farming has lower per acre crop yield and is more dependent on weather conditions. It also has higher production costs.
Opportunities: Growing health awareness and rising disposable income is driving demand for organic food globally. The market is expected to provide remunerative prices to farmers.
Threats: Threat from pests and diseases is higher in organic farms as chemical pesticides cannot be used. Unpredictable weather patterns due to climate change pose challenges.
Key Takeaways
Organic Farming Market Size is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing health consciousness among consumers. The market size for 2023 is estimated to be US$ 187.7 Bn.
Regional analysis: North America dominates the global organic farming market currently. However, Asia Pacific is expected to grow at the fastest pace, driven by large consumer base, government initiatives, and increasing cultivation of organic crops in China, India and Japan.
Key players operating in the organic farming market are Picks Organic Farm, Organic Farmers Co., The Indian Organic Farmers Producer Company Limited (IOFPCL), Bayer AG, Camson Bio Technologies Limited, and ZUWA Organic Farms Pvt. Ltd among others.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it