Newark, Jan. 22, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global green food market is expected to grow from USD 428.35 Billion in 2022 to USD 878.75 Billion by 2032, at a CAGR of 7.45% during the forecast period 2023-2032.
This market is growing as green food needs a high-level decrease in chemical inputs such as pesticides, synthetic fertilizers, veterinary drugs and additives to ensure the product's safety and the environment. Consumers are becoming more aware of the nutritional quality of their food. Green food development increases productivity using the integrated water, pest and nutrient management method, which conserves biodiversity and improves nutrient levels, drought risk and hydrological functionality. These factors are eventually driving the growth of the Green Food market.
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Competitive Strategy
To enhance their market position in the global Green Food market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In November 2023: Danone collaborated with Else Nutrition, a supplier of plant-based infant formula products in Canada. This collaboration helped Danone by adding Else’s products, like plant-based nutritional food, under a specialized nutrition portfolio. Also, these products can be marketed, manufactured and commercialized by Danone. All these factors help the organization gain market share.
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Market Growth & Trends
Green food is becoming popular worldwide, and one of the key reasons for this is its health benefits. The diet, which is plant-based food like vegetables, fruits, nuts, legumes and whole grains, is associated with many health advantages, such as a decrease in the risk of chronic diseases such as diabetes, heart disease, and some types of cancer, along with improved weight management and surge in the longevity. Green foods are also low in saturated fats and cholesterol but high in crucial nutrients such as vitamins, fibre, minerals and antioxidants. It helps boost the immune system and promotes healthy digestion. Green food products increased swiftly all across the world since the 1990s. Green food consists of raw and processed food, including livestock, crops, and aquatic products. The per capita income of the people is growing along with the awareness about healthy and safe food in emerging economies, leading to the growing number of people preferring to buy green foods. Based on one of the studies, Russia, Brazil, China, India, and South Africa are some of the large emerging economies with around 70% of the global population, which account for a large share of food production and consumption. The nature of sustainable food consumption by consumers is affecting the food market. Green food is crucial for feeding the world's ever-growing population and ensuring food security and the environment using social ethics, economic conditions and sustainable development. It has been observed that the demand for food will grow by around 60% to feed the added two billion people of the world, with a decrease in water supply by 40% in 2050. Green food technologies help decrease the pressure on the environment as this food is produced based on sustainable practices, which help decrease the earnings gap between urban and rural residents by offering around 10% to 50% price incentives and decreasing the input costs by boosting their economic conditions. All these factors will eventually drive the Green Food market in the forecasting market.
Key Findings
• In 2022, the organic food segment dominated the market with the largest market share of 49.45% and market revenue of USD 211.82 Billion.
The type segment is divided into organic food, natural food, plant based food and others. In 2022, the organic food segment dominated the market with the largest market share of 49.45% and market revenue of USD 211.82 Billion. This high market share is attributed to the popularity of sustainable, plant-based and ethical food preferences.
• In 2022, the agriculture/forestry and processed products segment dominated the market with the largest market share of 71.44% and market revenue of USD 306.01 Billion.
The product segment is divided into agriculture/forestry and processed products, beverage products, livestock poultry, aquatic and others. In 2022, the agriculture/forestry and processed products segment dominated the market with the largest market share of 71.44% and market revenue of USD 306.01 Billion. The green food production certification and farming standards helped increase agricultural produce, especially cereals and oils.
• In 2022, the offline segment dominated the market with the largest market share of 63.12% and market revenue of USD 270.38 Billion.
The distribution channel segment is divided into offline and online. In 2022, the offline segment dominated the market with the largest market share of 63.12% and market revenue of USD 270.38 Billion. This market share is attributed to the key role of hypermarkets and supermarkets in the growing green food market.
Regional Segment Analysis of the Green Food Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region occurred as the largest market for the global Green Food industry, with a market share of 35.11% and a market value of around USD 150.39 Billion in 2022. This market share is attributed to a growing shift towards sustainability and health-conscious options in the region. Consumers have started preferring the region's plant-based, organic and locally sourced products. The Asia Pacific region has the fastest growth rate.
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Key players operating in the global Green Food market are:
• Danone
• General Mills Inc.
• Whole Food Market Inc.
• WhiteWave Food Company
• Nature's Path Food
• Naturex
• Clif Bar & Company
• The Hain Celestial Group
• United Natural Food Inc.
• Organic Valley
• SunOpta Inc.
• Amy's Kitchen
• Earth's Best
• Eden Food
• Hain Celestial
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global Green Food market based on below mentioned segments:
Global Green Food Market by Type:
• Organic Food
• Natural Food
• Plant Based Food
• Others
Global Green Food Market by Product:
• Agriculture/Forestry and processed Products
• Beverage Products
• Livestock Poultry
• Aquatic
• Others
Global Green Food Market by Distribution Channel:
• Offline
• Online
About the report:
The global Green Food market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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