Major players in the organic farming market are Dow Chemical Company, BASF SE, Solvay SA, Akzo Nobel N.V, Nalco Holding Company, and Bayer AG.
The global
organic farming market is expected to grow from USD 88.79 billion in
2019 and to USD 95.90 billion in 2020 at a compound annual growth rate (CAGR)
of 8%. The growth is stable across many countries due to the COVID-19 outbreak
and the extending lockdown as a measure to contain it, however, strong growth
is registered in USA even during the lockdown. The market is then expected to
recover and reach USD 131.55 billion in 2023 at CAGR of 11.11%.
The organic farming market is associated with the sales of produces by farms that produce them in organic ways. The organic farming is an alternative form of farming for crops and livestock's produce which doesn't use pesticides, artificial fertilizers, genetically modified organisms and antibiotics to increase the production. This has many benefits to the environment and the individuals using these yields.
North America was the largest
region in the organic farming market in 2019. Asia Pacific is expected to be
the fastest growing region in the forecast period.
Less productivity of organic food
is expected to hinder the organic farming market. According to the USDA 2018
data and many other studies, the yield of organic farming is significantly less
compared to the conventional farming. So, the latter is preferred to organic
farming to ensure food security as organic farming is expected to cause a
scarcity due to lower yield. It doesn't meet the needs of rising population and
thereby doesn't meet the definition of food security by the Food and Agriculture
Organization of the United Nations (FAO). The less productivity of organic
farming therefore is expected to hinder the market.
The organic farming market covered
in this report is segmented by farming type into pure organic farming;
integrated organic farming and by method into crop diversity; soil management;
weed management; controlling other organisms.
In December 2019 Young living
essentials a North American based essential oil company who is a world leader
has initiated a new partnership with Golden Einkorn Farm. By this partnership
Golden Einkorn Farm supplies its ancient einkorn grain to young essentials and
also supports its movement towards sustainability thereby being environmentally
responsible. Golden Einkorn Farm is 600 acre France based family farm which
produces einkorn grain and uses rainwater for irrigation, organic mater as
manure instead of artificial fertilizers, uses solar energy and other
sustainable methods with an aim of zero wastage.
Environmental gain from organic
farming is expected to drive the organic farming market. Organic farming is
highly beneficial to the environment as it does not use any chemical
fertilizers or pesticides that cause soil and groundwater contamination. Also,
the usage of non-renewable resources that are needed for the development of
such artificial fertilizers is less. Organic farming preserves biodiversity of
the soil. According to the Organic Trade Association 2019 report, if every U.S.
farmer switched to organic farming, annually nearly 500 million pounds of
residual and toxic pesticides can removed from getting into the atmosphere. The
use of organic products also have a beneficial impact on the health of organic
growers, assistants, their families and customers, as they are less exposed to
harmful chemicals. Therefore environmental benefits of organic farming coupled
with health benefits of organic products is increasing the demand for organic
food (food produced through the process of organic farming) which in turn is
driving the market for Organic farming.
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Ankur Gupta, Head Marketing & Communications
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