Analysis of COVID-19 Crisis-driven Growth Opportunities in Organic Dairy Products (Foods And Drinks) Market – Sales Volume, Revenue, And Price Analysis Of Top Manufacturers
Increasing awareness regarding health implications of food is increasing consumer appetite for specialty foods, which include organic food and beverages, states a recent market study published by Transparency Market Research (TMR). The research report, titled “Organic Dairy Products Market – Global and South Korea Market Forecasts, Size, Trends, And Industry Analysis 2011 – 2017”, states that the global organic dairy products market will expand at a CAGR of 9.1% from 2011 to 2017.
The research report delves into the various factors that have a bearing on the organic dairy products market. This includes market drivers, challenges, and trends in the regional markets that are shaping the growth of the global organic dairy products market. According to the report, in the last decade, there has been a steady rise in the demand for organic foods across the globe. Increasing awareness of eating healthy and health concerns associated with pesticides are driving demand for organic food.
Other factors such as low shelf premium and robust market penetration of organic dairy products such as milk and yogurt have contributed to the steady growth of the overall organic dairy products market. In addition, brand development and persistent marketing campaigns from key market players have led to brand preferences among consumers, which has in turn helped stable sales of organic dairy products. TMR says that the global organic dairy products industry is expanding into new markets in emerging economies such as China and India, a development which will steer the global market to new heights. The availability of large organic farmlands in these countries make them potential markets for growth of the global organic dairy products market.
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To cater to the growing demand for organic foods and beverages, organic farming (which includes agricultural crop, poultry, dairy, meat, and others) has developed into a full-fledged business sector. To keep with the move, organic dairy product farmlands have doubled production in the last five years.According to industry analysts, the U.S. and Europe are the largest consumers of organic dairy products. In 2011, the two regions collectively accounted for 93.1% of the global organic dairy products market.
In Asia Pacific, South Korea is expected to exhibit substantial demand for organic dairy products from 2011 to 2017. This is attributed to increasing consumer awareness regarding healthy food products, their increasing purchasing power, and upswing in living standard. As such, the South Korea market for organic dairy products will reach a valuation of US$418.6 mn by 2017, adds TMR. According to the report findings, organic products are largely consumed by consumers in the age group 38 to 45 years. This is because the age group gives due attention to food safety and health aspects, is concerned about chemical residues/pesticide in food products, and generally has a high purchasing power to spend on high-grade foods.
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Kroger, Costco, Publix, Aspall, BJ’s Wholesale Club, Eden Foods, Whole Foods Market, YogiTea, Safeway, Ben & Jerry, VerdeGrass, Purity Foods, and Organic Valley are some of the major companies having a presence in the global organic dairy products market.
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