India Organic Food Market to Grow at Over 25% through 2020
Excessive use of chemical fertilizers and pesticides in food production and increasing health awareness among consumers to drive India organic food market
According to recently published TechSci Research report “India Organic Food Market Forecast and Opportunities, 2020”, organic food market in India is projected to register growth at a CAGR of over 25% during 2015-20. Growing health consciousness is the key factor surging the demand for organic food products in India. Other factors driving growth in the market include higher income levels, improving living standard, and favorable government initiatives aimed at improving the current scenario of organic farming in the country by providing financial and technical support to organic farmers.
Consumers in India are becoming increasingly health conscious, which has resulted in a change in their preferences. Consumers are moving towards consumption of organic food in place of conventional food, to avoid adverse health effects of chemical preservatives/ residues present in non-organic food. Moreover, increasing popularity of organic products has significantly expanded the availability of organic food in retail stores over the last few years. With organic food becoming easily accessible, the market is expected to witness remarkable growth over the forecast period.
“Rising awareness about the benefits of consuming organic food products coupled with rising health concerns is driving the consumption of organic food products in India. Though high prices of organic food are hindering widespread adoption, producers are increasing their focus on reducing the price differential between organic and inorganic food products. As demand for organic food products rises, increase in production and economies of scale would result in reduced cost of production, further driving growth in India organic food market over the next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Organic Food Market Forecast and Opportunities, 2020” has evaluated the future growth potential of India organic food market, and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in India organic food market.
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