BURNABY, British Columbia, March 27, 2014 /PRNewswire/ --
The processed package food and fruits & vegetables accounted for the highest revenue share in Germany's organic food market
Increasing purchasing power and consumer health concerns are significantly contributing towards the robust growth in organic food sales across the globe. In 2013, North America accounted for more than one third of the overall global demand for organic food, followed closely by Europe. Germany is one of the leading organic food markets in European Union (EU). Germany is witnessing growth in consumption as well as production of organic food. In 2013, Germany's southern & western regions emerged as the main contributors to the country's overall organic food market, as a result of growing per capita income and domestic production.
Germany's organic food market is broadly divided into five segments that include fruits & vegetables, dairy products, meat, processed package food, and breads & cereals. However, the market was mainly dominated by processed package food and fruits & vegetables, in revenue terms, in 2013.
According to the recently published report by TechSci Research "Germany Organic Food Market Forecast & Opportunities, 2019", the Germany's organic food market is projected to grow at a CAGR of around 9% during 2014-19, in value terms. Organic meat and breads & cereals are expected to be the fastest growing segments in the organic food market of the country. Increasing awareness about the negative impacts of pesticides and Genetically Modified Organisms (GMOs) on the consumers' health is significantly boosting the acceptance of organic food among the young population of Germany with about 12% annual growth witnessed in 2012 among the consumers under 30 years of age.
"The growing trend of organic food in hospitals and restaurants is boosting the organic food market in Germany. Government initiatives coupled with awareness amongst young consumers are expected to surge the country's organic food market over the next five years." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
The report reveals that, retailers are largely driving the organic food market in Germany, with the number of both exclusive organic food retail stores as well as conventional stores that offer organic food continuing to grow. Some of the country's leading organic food retailers include EDEKA Zentrale AG & Co KG, REWE-Zentral-Aktiengesellschaft, ALDI Einkauf GmbH & Compagnie, METRO AG, Alnatura Produktions- Und Handels GmbH and denn's Biomarkt GmbH.
"Germany Organic Food Market Forecast & Opportunities, 2019" has evaluated the future growth potential of organic food market in Germany and provides statistics and information on market structure, market trends, market size, etc. The report includes organic food projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Germany's organic food market.
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SOURCE TechSci Research