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Organic food market accounted for $162,036.7 million in 2019 and is predicted to generate a revenue of $416,049.7 million by 2027 with a CAGR of 12.4% in the forecast period. Increasing health concerns due to the growing number of chemical poisoning cases globally is acting as a driver in the organic food market. Consumers are becoming more health conscious owing to the harmful effects caused by the presence of chemical pesticides in food products. The toxicity of chemical pesticides in food products can cause cancer, hormone disruption and birth defects. According to an UN report, around 200,000 people die every year due to toxic effects of pesticides in food products. This is causing consumers to shift their focus towards organic food products.
Organic food is being produced by various methods of farming without using any preservatives or chemicals. The term organic farming refers to farming by using various organic techniques in the farm. Organic farming involves the use of natural fertilizers like manure to improve plant growth. Moreover, animals raised organically are not given any hormones and are raised giving natural elements.
Organic food is prepared without using any chemicals. It means that organic food restricts the use of chemical pesticides, preservatives or fertilizer and are farmed using natural resources. Organic food is being accepted by more and more people due to the presence of multiple benefits, which is predicted to be the major driving factor for the global organic food market in the estimated period. Moreover, an improved distribution channel and rise in the income level among the population is predicted to be one of the biggest driving factors for the global organic food market in the estimated period.
Low shelf life of organic food and beverages compared to conventional foods and beverage products is restraining the organic food market. For instance, in a research conducted by MSNBC, it was reported that the shelf life of organic food products tends to be shorter than conventional produce. Similarly, some researchers found that many organic foods had higher levels of bacteria than conventional products that cause food to spoil. As organic food is not exposed to the similar amount of preservatives that of conventional food, organic food tends to be prone to bacteria attacks and has a shorter shelf life. For example, organic food products like turnip greens, mustard greens, and endive have a very short shelf life with shrinkage percentage of 50%. Thus, high packaging, logistics and distribution costs to increase shelf life is limiting the growth of the organic food market.
The organic food market is regulated by authorities such as the US Food and Drug Administration (FDA) and the European Food Safety Authority (EFSA) to ensure high quality standards of food products are maintained. For instance, EFSA oversees whether labelling is used to mislead consumers on the nutritive proportions of a product in the EU. EFSA performs occasional checks on the nutritional value to check whether correct labelling has been used or not. In order to maintain transparency and effectiveness, regulatory authorities have come up with strict food labelling regulations for the organic food market.
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