Major players in the organic vegetable farming market are BASF, Aero Farm System, Plenty, Agrilution, N5 Sensors, Terramera PlantHealth, Back to the Roots, Vital Farms, ISCA Technologies, Inc.
The global organic vegetable farming market is expected grow from $7.41 billion in 2020 to $7.77 billion in 2021 at a compound annual growth rate (CAGR) of 4.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $10.01 billion in 2025 at a CAGR of 7%.
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.
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 and fertilizers tend to be a key factor for augmented demand for organic food including organic vegetables.
According to the 2020 Organic Industry Survey released by the Organic Trade Association, the USA organic food sales hit $50.1 billion, up by 4.6% from 2019. Due to the beneficial impact on the health of organic growers, assistants, their families and customers, as they are less exposed to harmful chemicals, and the increasing consumers’ preferences for organic food is projected to generate higher demand for organic vegetable farming during the forecast period.
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.
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 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 increase the cost for natural fertilizers along with the high cost for obtaining organic certifications. This scenario is expected to have a negative impact on the organic vegetable farming market’s growth in the coming years.
In August 2018, BASF closed the acquisition of Bayer’s global vegetable seeds business, operating under the Nunhems brand for an amount of $8.1 billion (€7.6 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.
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