Conscientious consumers keep organic food brands on their toes
In the post-pandemic world, we are getting to see the organic food industry grow exponentially. In 2020, the market size touched $820 million as opposed to just $200 million in 2018. The industry is expected to grow at a CAGR of 24 per cent during the next four years. India is currently ranked at the first position and fifth globally due to the twenty three lakh hectares of area under organic farming. The country reached this position as, over the last year, it added over 3.6 acres of organic land. Hence, it is expected to grow at a faster pace as it is currently facing a massive demand for organic products.
Since the pandemic, Indian consumers have become more conscious of their health, the nutritional value and the quality of the food they consume. They have gradually begun to migrate towards organic food as a result of these concerns, even though organic foods are more expensive than conventional ones. This increased consumer knowledge is boosting the organic market. As customers are more aware of the safety and quality of organic products, they are willing to spend more on organic products as it would benefit their health and wellness.
As per research, organic fruit and vegetable consumption is expected to continue through 2026. At present, organic fruits and vegetables are both in high demand globally due to the high nutritional value they carry. Furthermore, tests have revealed that when organically grown fruit and vegetables were tasted, they tasted better than the non organically produced.
Organic food brands relate to the fact that the pandemic has brought the organic food business to the forefront more than ever before. With the changing interests of consumers in mind, the market is steadily adapting the sale of organic products, not only in major cities but also in rural towns.
The increased demand for organic food items presents significant prospects for the industry. The organic food industry is growing at a around two to three per cent on an annual basis. Businesses that succeed in achieving and extending support to growers, farmers, and distributors to fulfill rising consumer demand for organic foods can expect to see significant growth.
While numerous industries grew despite the pandemic, the organic food industry, for instance, grew like no other. Given the current demand and potential for expansion, it is safe to assume that customers will continue to trust and rely on all products labelled organic. Organic food farmers and processors should labour around the clock to maintain a continuous demand-supply cycle and capitalise on the benefits that this market offers, as this is a once-in-a-lifetime opportunity to expand your business like never before.
Kuldeep Singh is a Business Coach