Organic fruit and vegetable market worth $63 billion by 2020
The organic fruit and vegetables market is projected to be worth $62.97 billion by 2020 with a CAGR of 9.4 percent from 2015, according to analysts at MarketsandMarkets.
With consumers seeking out natural products, the demand for organic fruits and vegetables is on the rise globally. In the recent report “Organic Fruits & Vegetables Market by Crop (Organic Fruits, Organic Vegetables), Form (Fresh, Frozen, Puree, Powdered), End Use (Fresh Consumption, Food Processing), Distribution Channel, & by Region - Global Forecast to 2020,” researchers say demand is driven primarily by innovation in forms of product, packaging, storage methods and technology.
The major factors that prompt consumers to purchase these products are the quality, nutritive value and environmental sustainability of organic products. Even though these products are costlier than traditional ones, research shows consumers are more than willing to pay for them due to the health benefits they offer.
In 2014, North America was the largest market for organic fruits and vegetables. The North American market was followed by Europe, with Germany being the major contributor in the region. Asia-Pacific is projected to be the fastest-growing market for organic fruits and vegetables during the forecast period. The global organic fruits and vegetables market is projected to grow in the near future, owing to factors such as increasing health awareness, changing food habits and technological advancements in the food and beverage industry.