Rising Consumption of Chemical-free Organic Food Products and Initiative by Global Authorities to Enhance their Production would Boost the Growth of the Organic Farming Market during the Forecast Period 2023-2030

Market Overview:

The Organic Farming Market size is estimated to reach USD188 billion by 2030, growing at a CAGR of 7.8% during the forecast period 2023-2030, according to a recent report published by IndustryARC. The growth of the Organic Farming Market is fueled by the growing demand for chemical-free, organic crop nutrition food products and the expansion of government awareness campaigns to encourage organic farming among farmers. As per Nutrition Business Journal, U.S. sales of organic food products reached USD51 billion in 2020. Retail sales of organic crop nutrition products like fresh fruits and vegetables were estimated at USD20 billion in 2020 and have steadily trended upward for the past two decades.

North America held the largest Organic Farming market share with 34% of the overall market in 2022. There is an increase in investments to promote organic farming by authorities like the U.S. Department of Agriculture. They invest to educate farmers about organic farming, bio-pesticides, biological material, soil fertility and their advantages on the environment and mankind. It delivers technical assistance, including farmer-to-farmer mentoring, direct support through conservation financial assistance and additional crop insurance assistance to promote organic farming. In June 2022, the U.S. Department of Agriculture announced that it would invest about USD75 million to support urban agriculture and another USD40 million to outreach & initiate organic farming training programs for urban farmers in its new USDA Food System Transformation framework. This type of initiative is fueling the growth of the North America Organic Farming industry, thereby contributing to the Organic Farming market trends.

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Organic Farming Market Growth Drivers:

Rising Number of Awareness Campaigns in Developing Countries like Africa to Promote Organic Farming Practices:

European Commission, in its article “The World of organic agriculture - STATISTICS & EMERGING TRENDS 2022,” stated that there were more than 2 million hectares of certified organic agriculture land in Africa in 2020. Tunisia was the country with the largest organic area (more than 290,000 hectares) in 2020. This is the result of initiatives such as the Ecological Organic Agriculture Initiative. This provided information and communication materials to enhance the knowledge of adopting organic farming practices (bio-pesticides, biological crop management and organic weed management techniques) and boost soil fertility levels. The Knowledge Centre for Organic Agriculture in Africa provided support for organic agriculture in all parts of Africa through knowledge management, dissemination and market systems development. The constant efforts by authorities in developing countries to help farmers transition to organic farming practices are driving the Organic Farming market growth.

Increasing Awareness about Sustainable Agriculture, Organic Crop Nutrition and Its Positive Impacts on Biodiversity among Consumers:

There has been a rise in the consumption of organic vegetables in recent years because of their high nutritional value and lower risk of chemical residues that are harmful to health. It uses bio-pesticides, biological crop management and organic weed management systems to ensure good soil fertility levels & promote sustainable agriculture. According to the U.S. department of agriculture, certified organic cropland acres increased by 73% (to 3.5 million) and certified organic field crop production increased by more than 80% over the last decade. The increasing awareness about soil fertility, sustainable agriculture and its effects on humans is encouraging people to adopt organic farming. This is propelling the growth of the Organic Farming Industry, thereby contributing to the Organic Farming Industry Outlook.

Scope of Report:

Recent Developments:

• In July 2022, Corteva introduced Raklemel Active selective nematicide. It targets plant-parasitic nematodes and is gentle on many beneficial organisms in the soil, including good nematodes. This allows farmers to effectively protect their crops from plant-parasitic nematode damage without disrupting the healthy balance of beneficial organisms in the soil.
• In April 2022, Bayer introduced a new solution for sustainable horticulture. It has enhanced nutrition and crop protection properties. It implements precision farming practices, optimizes resource use and reduces agriculture’s impact on the environment.
  
  

Organic Farming Market: Competitive Landscape:

Key companies profiled in the Organic Farming Market are Bayer AG, Corteva, Inc., BASF SE, Solvay S.A., Akzo Nobel N.V., Pick's Organic Farm Ltd., The Indian Organic Farmers Producer Company Limited, Vero-Bio, Bunge Limited and Eden Foods Inc.