Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Organic Packaged Foods market.
Trusted Business Insights presents an updated and Latest Study on Organic Packaged Foods Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Organic Packaged Foods market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Industry Insights, Market Size, CAGR, High-Level Analysis: Organic Packaged Foods Market
The global organic packaged foods market size was valued at USD 30.2 billion in 2018. Changing lifestyle where dependency on packed food has been growing over the years is expected to remain a favorable factor. Furthermore, growing awareness among the urban population regarding the health benefits of organic packaged food, along with increasing number of supportive dieticians recommendations at the global level, is expected to have a positive impact on the industry growth for organic packaged foods.
With the female workforce entering the corporate, the urban lifestyle has undergone a 360-degree change. According to the World Bank Data, around 39% of labor force across the world comprises of women. The number has seen an upward trend in the last two decades, according to UN Women, as a result of increasing number of working class women. Thus, the busy modern work life consumes a substantial part of the day, and thus leaves little or no time for the household chores, thereby enhancing the dependency on packaged food. A regular habit of eating boxed food among working class professionals has propelled them to prefer organic packaged foods.
A shift in inclination among the urban population can be seen owing to the taste and health benefits. The urban population has been rapidly shifting from conventional food to organic packaged product forms. Various research studies have influenced the opinion of the consumers by exposing the adverse health outcomes of the consumption of products grown in chemical fertilizer.
The fact of the matter is that the millennials are ready to pay the premium price for organicpackaged products in exchange of healthy food. One of the surveys has revealed that the excellent taste will be the key reason behind growing preference of organic packaged foods. Furthermore, a certain portion of urban society at the global level, which believes in maintaining an eco-friendly lifestyle by decreasing their carbon footprints, addressed that they prefer organicpackaged products over conventional on account of being grown completely naturally.
Another factor propelling the growth of the market is increasing number of organizations that offer the organic packaged food products across the globe. For instance, Riverford, Amys Kitchen, and Eden Foods Inc. are some of them in U.S. Similarly, Farm2Kitchen, Pride Of Cows, and Mygreenkart are few among many operating in the organic packaged food market in India.
It can be noticed that growing awareness and readiness to pay premium price for organic packaged food has presented industrialists with a vast landscape of opportunities. Operating players with a unique selling proposition of being completely organic make sure to offer quality and convenience of the highest standard. For the same purpose, they prefer selling packaged goods through online as well as offline mediums.
Product Insights of Organic Packaged Foods Market
Bakery and confectionary products accounted for 39.3% share of the total revenue for the year 2018. Considering the market dynamics, it has been projected that the similar trend will continue to persist in the near future as a result of changing food preferences of the millennials towards consuming pre-packed organic grown breads. Furthermore, development of ground-breaking product with little or no trans-fat, consisting of multigrain and whole grain is providing impetus to the industry.
Over the past few years, organic packaged confectionaries have been evolved to include therapeutic and dietetic product forms in their inventory, which has created a stream of traffic for more than serving beyond the purpose of taste. A variety of these products are available in the market and consumer preference for them often differ geographically owing to regulatory norms and local taste preferences. A rise in demand for low calorie, sugar free, and functional products has been noticed and is creating traction among the health-conscious consumers at the global level.
Snacks and nutrition bars are expected to expand at the fastest CAGR of 15.1% from 2021 to 2026. Increasing awareness regarding the health benefits of healthy snacks including oat meal and flaxseeds in a mini-packaged forms is expected to have a strong impact on the segment growth over the next few years.
Distribution Channel Insights
Offline channel accounted for the largest share of over 70.0% in 2018. Though, the large part of the world has been interacting through the internet, yet the generation-X prefers the routine of walking into a store to purchase the regulars over buying grocery online. Furthermore, increasing access of farm-grown local organic packaged food in the nearby supermarkets and convenience stores, which ensure freshness, is expected to remain a key trend in the market for organic packaged foods.
Furthermore, as the retail market is gradually moving towards the organized sector, the participating players are keen on focusing on certain product over creating an assortment of all. For instance, a fruit seller would prefer keeping hundreds of varieties of fruits to become a one stop solution for fruits rather than assorting other different items.
Online channel for organic packaged foods is expected to expand at the fastest CAGR of 14.7% from 2021 to 2026. This growth is attributed to increasing investment by retailers at the global level in enhancing their grocery ecommerce capabilities. It has been concluded in several studies that the generation Z relies on online channel as it are considered to be a seamless, social, and easy shopping method.
Regional Insights of Organic Packaged Foods Market
North America emerged as the largest regional market, occupying over 50.0% share of the global revenue in 2018. High consumer awareness regarding the benefits associated with the organic packaged foods, along with increased spending by nutritional products providing companies on utilizing farm-grown natural ingredients in U.S. and Canada, is expected to have a strong impact on the market growth. Accessibility of the organic packaged foods is expected to increase as Walmart is stepping into organic packaged food and announcing the huge expansion.
Asia Pacific is projected to expand at the fastest CAGR of 18.5% from 2021 to 2026. Growing middle-class population in countries including China, India, Thailand, and Bangladesh is expected to open new avenues over the next few years. Furthermore, abundant availability of agro-farming lands in countries including China and India is expected to force industry participants to establish their strategic tie-ups in the vicinity.
Market Share Insights of Organic Packaged Foods Market
Some of the key players are THE WHITEWAVE FOODS COMPANY; Hain Celestial; General Mills Inc.; and Sresta Natural Bioproducts Pvt. Ltd. Low entry barriers as a result of presence of various brands and rapid innovation in the product line are anticipated to assert high competition among major manufacturers. Increasing demand for organic packaged products, along with attractiveness and low price provided by organizations including Walmart, is increasing competition among various players in the market. With a relatively fragmented competitive landscape, innovation and new product development are expected to remain the critical success factors over the projected period.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Organic Packaged Foods Market Research Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global organic packaged foods market report on the basis of product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2019 – 2030)
Bakery & Confectionary Products
Snacks & Nutrition Bars
Sauces, Dressings & Condiments
Distribution Channel Outlook (Revenue, USD Million, 2019 – 2030)
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