Major players in the organic vegetable farming market are BASF, Aero Farm System, Plenty, Agrilution, N5 Sensors, Terramera Plant Health, Back to the Roots, Vital Farms, and ISCA Technologies, Inc.
The Global
Vegetable Farming Market is expected to grow from USD 7.13 billion in
2019 and to USD 7.57 billion in 2020 at a compound annual growth rate (CAGR) of
6.3%. The growth is stable due to economic slowdown across countries owing to
the COVID-19 outbreak and the measures to contain it. However North America
registered a strong growth even during the Covid outbreak. The market is then
expected to recover and reach USD 9.53 billion in 2023 at CAGR of 7.96%.
The organic vegetable farming market consists of production and sales for organic vegetables and related services. Organic farming refers to the method of crop production that involves the use of biologicals materials in order to prevent the use of synthetic pesticides, genetically modified organisms, antibiotics, and fertilizers. Organic farming provides high-quality and healthy food to humans together with protecting the environment from pollution, soil degradation, and erosion to optimize biological productivity.
North America was the largest
region in the organic vegetable farming market in 2019. Asia Pacific is
expected to be the fastest growing region in the forecast period.
The high cost of organic farming in
comparison with conventional farming is predicted to limit the growth of the
organic vegetable farming market. According to the Food and Agriculture
Organization (FAO) of the United Nations (UN), the prices for organic food are
higher than that of conventional products attributing to greater labor inputs
and other costs incurred to produce high quantities of production to lower the
overall cost. Furthermore, organic vegetable farming does not use chemicals and
toxic substances which increases the cost for natural fertilizers along with
the high cost for obtaining organic certifications. This scenario is to have a
negative impact on the organic vegetable farming market's growth in the coming
years.
The organic vegetable farming
market covered in this report is segmented by type into pure organic farming;
integrated organic farming. It is also segmented by method into composting;
crop rotation; cutting; mulching; polyculture; soil management; weed management
and by crop into protected crops; salads; green veg; root crops; potatoes;
others.
The launch of various schemes by
the governments of various countries across the world is promoting organic
farming. Due to health benefits and environmental benefits offered by organic
products, the governments are promoting organic farming activities by launching
various schemes and encouraging the population to shift towards organic products.
For instance, the government of India is promoting organic farming under its
two dedicated schemes-Paramparagat Krishi Vikas Yojana (PKVY) and Mission
Organic Value Chain Development for North Eastern Region (MOVCDNER). Other
schemes for promotions of organic farming include Rashtriya Krishi Vikas Yojana
(RKVY) and Integrated Development of Horticulture (MIDH) and Network Project
for Organic Farming. The launch of similar schemes worldwide is likely to
provide ample avenues for organic vegetable farming market's growth in the near
future.
In August 2018, BASF closed the
acquisition of Bayer's global vegetable seeds business, operating under the
Nunhems brand for an amount of USD 8.1 billion (EUR7.6 billion). The
acquisition is expected to expand the BASF's product portfolio for the farmers.
Bayer's vegetable seeds business includes 24 crops and about 2,600 varieties.
Nunhems B.V. was founded in 1917 and offers market-oriented varieties and
vegetable seeds products across the globe.
Rising demand for organic food is
anticipated to act as a major driver for the growth of the organic vegetable
farming market during the period. The health benefits offered by organic food
such as high nutritional content, non-GMO, and free from synthetic pesticides
& fertilizers tend to be a key factor for augmented demand for organic food
including organic vegetables. Due to the beneficial impact on the health of
organic growers, assistants, their families and customers, as they are less
exposed to harmful chemicals, the increasing consumers' preferences for organic
food is projected to generate higher demand for organic vegetable farming
during the forecast period.
For More Information, Click on the Link Below:-
Global
Organic Vegetable Farming Market
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing &
Communications
