Newark, April 24, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 45 Billion Organic Packaged Foods market will reach USD 178 Billion by 2033. Expanding consumer base seeking healthier and sustainable food options and opportunities for product diversification may fuel the growth of the Organic Packaged Foods Market.
Technological advancements in the consumer electronic industry – The increasing consumer demand for healthier and sustainable food options presents a significant opportunity for the organic packaged food market, driving growth and fostering innovation to meet evolving preferences and values.
Opportunities for product diversification - Product diversification in the organic packaged food market opens avenues for innovation, thereby offering consumers a wider range of choices to cater to diverse tastes and preferences. This in turn enhances market growth, attracting new consumers and increasing brand loyalty through unique offerings.
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Organic Packaged Foods Market Size by Product (R.T.E Cereals, Bakery & Confectionery Products, Dairy Products, Sauces, Dressings and Condiments, Snacks and Nutrition Bars, Other Products), Application (Daily Diet, Nutrition, Others), Distribution Channel (Offline, Online), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033
North America emerged as the dominant revenue contributor, exceeding 50%. Market expansion is fuelled by heightened consumer awareness regarding the advantages of organic packaged foods, coupled with increased expenditure on nutritional products in the U.S. and Canada. Furthermore, the proliferation of organic offerings is anticipated to surge with Walmart's expansion plans. Meanwhile, the Asia Pacific region is poised for substantial growth, projecting a 15.8% CAGR from 2023 to 2032. This trajectory is attributed to the burgeoning middle-class populace in nations like China, India, Thailand, and Bangladesh. Moreover, the scarcity of arable land in India and China is likely to prompt industry stakeholders to forge strategic collaborations within the region.
The bakery and confectionery segment currently holds a commanding 45% share of the global market
The bakery and confectionery segment currently holds a commanding 45% share of the global market, while the Snacks and Nutrition Bars sector is poised to experience the most rapid growth. The increasing preference for healthier choices has spurred interest in Organic Packaged Foods as a nutritious and naturally sweet substitute. Its adaptability is evident in its significant use within the bakery and confectionery industry in 2023, demonstrating its potential for crafting flavourful treats. Companies can capitalize on this trend by innovating and exploring fresh applications for Organic Packaged Foods, meeting consumer demands for both delicious and wholesome products. Recognizing and leveraging the popularity of Organic Packaged Foods empowers businesses to effectively cater to evolving consumer preferences.
Offline channels currently hold a commanding 75% share of the global market
Offline channels currently hold a commanding 75% share of the global market, while online channel is projected to experience rapid growth. The strong preference for offline channels underscores consumers' fondness for hands-on shopping experiences. However, there's a noticeable surge in online distribution channels, driven by factors such as home delivery and a wider array of product choices. This shift indicates an emerging trend towards purchasing Organic Packaged Foods online.
In 2023, the Organic Packaged Foods market witnessed the dominance of the Daily Diet segment, capturing over 56.3% of the market share
In 2023, the Organic Packaged Foods market witnessed the dominance of the Daily Diet segment, capturing over 56.3% of the market share, reflecting consumers' preference for integrating Organic Packaged Foods into their regular meals. This trend underscores its popularity as a versatile ingredient, adding nutrition and sweetness to everyday dishes. Additionally, the market comprises segments like Nutrition and Others, indicating diverse applications in specialized diets and the food industry. This insight provides businesses with valuable information to innovate and explore new opportunities in the Organic Packaged Foods market.
Latest Development:
• In April 2023, Consumer surveys indicate a strong commitment to organic products despite food inflation. Ciranda, an organic ingredient supplier, observes sustained demand for health-focused options, anticipating continued growth in organic, sustainable, and fair-trade ingredients.
• In August 2022, Danone has announced its acquisition of 92% ownership of Happy Family, an organic baby and baby food producer known for its diverse range of organic products. With this acquisition the company will not only enlarge higher market share but will also provide the end users with innovative products in the market.
Market Dynamics
Drivers: The Growing awareness about the impact of diet on health
Increased awareness of the diet-health connection spurs the demand for organic packaged foods due to their perceived health benefits drives consumers to seek wholesome, natural alternatives over conventional options laden with synthetic additives and pesticides which in turn plays a major role in fueling the growth of the Organic Packaged Food Market.
Restraint: Constrained accessibility of organic ingredients
Limited availability of organic ingredients poses a challenge for the organic packaged food market, hindering production scalability and raising costs. This constraint affects product diversity and may lead to inconsistent supply, impacting market growth and consumer choice.
Opportunity: Technological advancements in the consumer electronic industry
The increasing consumer demand for healthier and sustainable food options presents a significant opportunity for the organic packaged food market, driving growth and fostering innovation to meet evolving preferences and values.
Challenge: Concerns over expensive price
A key issue in the Organic Packaged Foods sector is the increasing worry about prices. Consumers often view organic foods as pricier than conventional alternatives. This perception can discourage cost-conscious consumers from buying organic packaged foods, thereby constraining the market's expansion.
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Some of the major players operating in the Organic Packaged Foods market are:
• Amy’s Kitchen
• Albert’s Organics, Inc
• Whitewave Foods Company
• Hain Celestial Group
• General Mills Inc.
• The Kellogg Company
• Campbell Soup Company
• Belvoir Fruit Farms Ltd
• Dean Food Company
• Organic Valley
Key Segments cover in the market:
By Product:
• R.T.E Cereals
• Bakery & Confectionery Products
• Dairy Products
• Sauces, Dressings and Condiments
• Snacks and Nutrition Bars
• Other Products
By Application:
• Daily Diet
• Nutrition
• Others
By Distribution Channel:
• Online
• Offline
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About the report:
The global Organic Packaged Foods market is analysed based on value (USD trillion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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