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Organic Farming Market, By Source- Trend Analysis, Competitive Market Share & Forecast, 2021-2027

Organic Farming Market- Industry Trends & Forecast Report 2027A study recently conducted by the strategic consulting and market research firm 

BlueWeave

Consulting revealed that the global organic farming market accumulated USD 96.1 billion in 2020. The market is anticipated to reach USD 183.8 billion by 2027 and is projected to grow at a CAGR of 9.8% during 2021-2027 (forecast period). The growth of the global organic farming market is attributable to increasing adulteration levels in synthetically produced foods, growing health concerns, and acceptance rates for organic products in the global market. Another factorcontributing to the growth of the global organic farming market is rising investments in farming schools and farming systems for research & development.

Growth Drivers Growing emphasis on sustainable developmentWith an increasing focus on sustainable development and healthy eating, the demand for organic food is growing day by

day.Organic

farming can prevent 500 million pounds of persistent and harmful pesticides from entering the environment annually, as reported by the Organic Trade Association. According to the British Department for Environment, Food and Rural Affairs, organic crops and dairy farming use 35% to 74% less energy than conventional crop and dairy farming. Additionally, organic farming reduces nitrogen run-off-induced pollution and protects the environment. Healthy soil formation and reduced carbon dioxide emission, coupled with the abovementioned factors are supporting the growth of the global organic farming market.

Restraints High Initial Investment CostIt costs significantly more to invest in organic farming than in conventional farming due to the former’s specific requirements. Moreover, organic farming calls for the use of ecologically friendly agriculture practices, with farmers using their own renewable resources or local resources which may extend the costs of organic farming

further. In

the absence of organic fertilizers and pesticides at home, farmers must buy them from the market. These products are significantly more expensive than chemicals. Economically weak farmers find it difficult to opt for organic farming due to the high investment costs and high prices of organic fertilizers and pesticides, and this is a major barrier on the growth of the global organic farming market.

Impact of COVID-19COVID-19 affected the global organic farming market positively. Due to the lockdown, organic food demand grew significantly in 2020, resulting in a spike in market growth. As people became more aware of what they were consuming, the demand for organic food products soared. According to the Organic Trade Association, sales of organic food products increased by 12.8% in the US in 2020 with fresh organic produce sales witnessing a growth of 11% and frozen organic fruits and vegetable sales increasing more than 28%. Farmers were also able to obtain higher prices for their products as demand increased, and companies were willing to pay higher prices to farmers. As markets reopen and countries allow tourists, the demand for organic food products is expected to grow further, driving the market in the coming years

.

 Regional InsightsThe global organic farming market is segmented into five regions: North America, Europe, the Asia-Pacific, Latin America, and the Middle East & Africa. Among these regions, North America held the largest share in the global organic farming market in 2020 owing to the increased demand for organic products.Organic food sales increased by 12.8% in the US in 2020, with organic flour and baked goods growing by 30%, organic spices by 51%, and organic textiles, fibers, and household goods growing by 8.5%, according to the Organic Trade Association. Other factors contributing to the dominance of the region in the global organic farming market include the presence of global players, a high per capita income, and increased health awareness among the population.

Recent DevelopmentsIn August 2021, Shenandoah Growers Inc. broke grounds on its next indoor Biofarm in Anderson County. Founded in 2018, Shenandoah Growers specializes in commercially advanced indoor agriculture and will be delivering USDA-certified organic produce that is affordable as well as widely accessible. An announcement by the company said that the new farm will create 50 full-time jobs with good wages.

In July 2021,the EU's ministers of agriculture from 27 member nations have all agreed that 25% of the EU's agricultural land area should be organic by 2030. The ministers made the commitment during the meeting of the EU Agriculture and Fisheries Council held in Brussels.

Competitive landscapeSome of the key players operating in the global organic farming market include ZUWA Organic Farms Pvt Ltd., Bayer AG, Organic Farmers Co., AkzoNobel N.V., Dow Chemical Company, Indian Organic Farmers Producer Company (IOFPC), BASF SE, Nalco Holding Company, Picks Organic Farm, Solvay SA,

Camson

Bio Technologies Limited, Amalgamated Plantations Pvt Ltd., Bunge India Pvt Ltd., Mcleod Russel India Ltd., Aero Farm Systems, Plenty AG, Agrilution Systems GmbH, and others prominent players. Sample Copy:https://

www.blueweaveconsulting.com

/report/global-organic-farming-market/report-sample

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