Organic farming entails growing crops and raising livestock in a natural way without the use of synthetic fertilizers, pesticides, and herbicides. The practices include crop rotation, green manuring, composting, biological pest control and recycling for soil improvement. As the population is becoming more health conscious, they are preferring organic foods as it promotes healthy living with higher nutrition value. Organic farming reduces dependency on chemical fertilizers and promotes sustainable agriculture with minimal environmental impact. The practice involves zero use of insecticides, fungicides, weedicides and other chemicals and also bans the use of GMOs.
Key Takeaways
Key players operating in the Organic Farming market are Heroux-Devtek Inc., Honeywell International Inc., Liebherr-International Deutschland GmbH, Raytheon Technologies Corporation, Nook Industries Inc., Parker Hannifin Corp., Electromech Technologies, Eaton Corporation PLC, Arkwin Industries Inc., Moog Inc., Woodward Inc., Safran SA, and Triumph Group. These major players are focusing on increasing their production capacity and global presence through partnerships and expansions to meet the growing demand.
There are various lucrative opportunities in the field, including growing demand for organic dairy, vegetables and fruits. The increasing preference for nutritious foods without chemicals is a major opportunity as organic farming promotes sustainable living. With more awareness, the market demand for organic produce and livestock is estimated to grow significantly.
On the global front, Asia Pacific region especially countries like India is witnessing rapid growth in organic farmland. In Europe, countries like Germany dominated the organic market owing to strong government support and high consumer demand. North America is another major organic market led by the US. With growing health and environment consciousness, demand for organic products is estimated to surge in developing regions providing scope for global expansion.
Market Drivers
The major driver which is propelling the growth of organic farming market is increasing health awareness among consumers regarding consumption of chemical-free and nutritious foods. As per various studies, regular consumption of organic foods help in reducing risk of some life-threatening diseases.
Another key aspects driving the adoption of organic farming practices is growing support from governments and international regulatory bodies in the form of funding, initiatives for organic certification, and incentives to farmers. This is encouraging more farmers to switch to organic techniques resulting in increased production.
Market Restrain
Adoption of organic farming is still not widespread and penetration levels are low in many countries due to high initial certification and production costs. Farmers have to go through a lengthy certification process and also comply with stringent organic standards which increases their expenses.
Limited access to organic farming techniques and technology also restrain the growth of this market to some extent. Small farmers especially in developing nations lack adequate know-how about organic practices or face problems in getting quality seeds, bio-fertilizers and pest control agents.
Segment Analysis
Organic Farming Market Demand dominates the organic farming market with over 50% market share. Organic farming pertains to agricultural practices that do not use synthetic chemicals like pesticides and fertilizers. Organic farming practices focus on crop rotation, green manuring and utilization of organic waste to nurture soil. Since organic produce is perceived to be healthier by consumers, organic farming continues to witness steady growth over the years. Fruit and vegetable segment is the fastest growing segment and is projected to expand at a CAGR over 5% during the forecast period. Wide variety of organic fruits and vegetables offered by farmers and growing demand for healthy foods will support growth of this segment.
Global Analysis
North America represents the largest regional market for organic farming. U.S is the dominant market in North America owing to rising health consciousness and stringent regulations regarding the use of chemicals in agriculture. Europe is also a major regional market and Germany contributes nearly one fourth of Europe's organic farming market. Growing demand for chemical-free agricultural produce and support from EU policies have aided Europe's organic farming industry. Asia Pacific is expected to witness fastest growth during forecast period led by China and India. Increasing disposable incomes, growing middle class population and government initiatives to promote organic farming will drive Asia Pacific organic farming market.
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