The SPECTRUM
Natural & Organic
- The global organic food and beverage market is expected to touch $211.3 billion by 2024 from $122.8 billion in 2019 at a compound annual growth rate (CAGR) of 11.5% for the forecast period of 2019 to 2024.
- India organic food market is projected to grow at a CAGR of over 23% by 2023, on account of favourable government policies supporting organic farming coupled with rising land area under organic cultivation.
- Online availability of organic food products and shifting consumer preference towards organic food are among the major factors expected to boost demand for organic food products in India during the forecast period.
- Expanding marketing and distribution channels coupled with increasing number of health-conscious people is also anticipated to fuel organic food consumption in India until 2022.
