LONDON, Jan. 04, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s organic fruits and vegetables global market report 2024, the organic fruits and vegetables market has witnessed robust growth, reaching $43.47 billion in 2023 and is poised to escalate further, projecting a substantial increase to $47.7 billion in 2024. This surge is fueled by several factors, including heightened consumer health awareness, environmental concerns, and an escalating preference for local and seasonal produce.
Forecasted Growth and Influencing Factors
Looking ahead, the forecast indicates an even more promising trajectory, with the organic fruits and vegetables market expected to soar to $68.54 billion by 2028, showcasing a compound annual growth rate (CAGR) of 9.5%. This organic fruits and vegetables market growth is attributed to sustainable agriculture practices, the burgeoning e-commerce sector, climate change mitigation efforts, and the increasing popularity of plant-based diets. Other contributing factors include rising urbanization, population growth, and the prevalence of chronic diseases.
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Key Trends in the Forecast Period
Anticipated trends in the organic fruits and vegetables market during the forecast period include advancements in nutritional research, innovative organic farming practices, packaging innovation, a surge in organic meal kits and snacks. The market is poised for transformation, driven by the dynamic landscape of consumer preferences and sustainable practices.
Major Players and Innovation
Leading companies in the organic fruits and vegetables market, including DanoneWave Holding B.V., The Kraft Heinz Foods Company, and General Mills Inc., are strategically focusing on introducing organic plant-based coatings to gain a competitive edge. For instance, AgroFresh Solutions Inc. launched VitaFresh Botanicals Life Select, an organic plant-based coating aimed at extending the shelf life of fresh produce while reducing food waste.
Regional Dynamics
In 2023, North America emerged as the largest region in the organic fruits and vegetables market. The Asia-Pacific region is poised to be the fastest-growing region in the forecast period, presenting lucrative opportunities for market players.
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Market Segmentation
The organic fruits and vegetables market, as detailed in this report, is segmented based on product type (organic fruits, organic vegetables), form (fresh, frozen), distribution channel (supermarket, hypermarket, convenience store, online sales channel, other distribution channels), and end user (residential, commercial).
This comprehensive Organic Fruits And Vegetables Global Market Report 2023 provides invaluable insights for players in the industry. Businesses can leverage this data to make informed decisions and capitalize on emerging trends, such as organic plant-based coatings, ensuring sustained growth in the dynamic organic produce market. As the market continues to evolve, staying abreast of these trends and innovations is key for companies aiming to thrive in this flourishing sector.
Organic Fruits And Vegetables Global Market Report 2024 by The Business Research Company provides insights on the organic fruits and vegetables market size, organic fruits and vegetables market segments, organic fruits and vegetables market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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