Global organic vegetable farming to surge by almost 5% in the coming year
“According to a recent analytical report by Research and Markets, the organic vegetable farming market is set to increase from $8.69 billion in 2023 to $9.12 billion in 2024, boasting a Compound Annual Growth Rate (CAGR) of 4.9%. This consistent growth is expected to persist, with the market forecasted to reach $11.11 billion by 2028, maintaining a CAGR of 5.1%.
The expected growth over the forecasted period can be attributed to adopting sustainable agricultural practices and focusing on climate resilience in organic vegetable farming. Anticipated trends over the next five years encompass the further implementation of innovations and technologies, the expansion of e-commerce, and direct sales channels to consumers. There is also an increased emphasis on supply chain transparency and a wider variety of organic vegetable offerings to cater to changing consumer preferences.
The expansion of restaurants and food service establishments is considered a contributing factor to the organic vegetable farming market’s growth, highlighting a promising future for the industry. As the demand for organic produce continues to rise, the sector is poised to thrive, driven by sustainable practices and consumer-driven trends.”
*This article is excerpted from freshplaza.com website, published 14th December 2023