BURNABY, British Columbia, June 27, 2014
Growing Per Capita Income, Changing Lifestyles and Increasing Consumer Interest to Augment Growth in Organic Food Market in India
According to “India Organic Food Market Forecast & Opportunities, 2019”, the organic food market revenues in India are expected to grow at a CAGR of around 25% during 2014-19. Some of the key reasons attributed to anticipated high growth in organic food market include growing health consciousness among consumers, rising disposable income, expanding middle class population in the country. India is also emerging as a potential destination for organic farming due to growing number of certified farmlands, as well as diverse climatic conditions and soil types in different states across the country. The availability of organic food products is gradually increasing due to rise in the number of retail and distribution stores. Various major players such as Sresta Natural and Morarka Organic Foods are expanding their retail distribution network in Tier I and II cities through tie-ups with leading retail chains as well as through establishment of exclusive stores and outlets.