Today, consumers around the globe have become conscious when it comes to health and their eating habits. Consumers are turning to healthier alternatives to meet their diet requirement. Moreover, general awareness related to organic products such as organic dairy food and drinks has increased.
Companies operating in the organic dairy food and beverages industry are actively marketing their products using innovative methods to create awareness amongst consumers. The growth in the number of chronic diseases and rising incidences of diseases overall have played an important role to establish a strong market for organic dairy food and drinks. Food safety, environment protection, and animal welfare are other factors that are influencing a growth of the organic industry. A recent report published by Allied Market Research offers significant data related to the organic dairy food and drinks market such as the market share, size and growth. Further, the current market trends and growth opportunities of the industry are highlighted in detail.
Organic food and drink products have gained tremendous popularity in the last five years worldwide. Some of the leading markets include, the U.S., UK and Australia. The industry in Australia is thriving as some stakeholders are expecting the organic grain protection to triple in the next five years in Australia. However, there is a supply deficit in the current scenario. There has been a significant growth in the consumption of organic products in the region. The demand for organic products is much higher than the supply causing a supply deficit. There are multiple factors that have caused the deficit in supply. In 2014, four large group of organic growers sold the water rights and quit using the farm. The four-large group of organic growers contributed around 40% of the total organic production in the entire region. The organic dairy produce category was the fastest growing and the most valuable organic category by 2014 and the trend is set to continue. Organic dairy produce had around 22.3% of the total organic farm-gate sales.
According to a study, the value of the farm-gate was close to around $114 million rising from $29 million in 2011. The Australian Certified Organic (ACO) is currently witnessing a rapid growth in the number of dairy operations that are applying for certification. According to Pete Longhurst, director, Primal Foods Group, the organic grain supply will have to grow drastically to meet the milk output projections of the organic dairy sector for 2020. He added that the increase in the adoption of compound feed and pellet use over home mixing is assisting to increase the overall efficiency in production. The dairy processors are encouraging the producers to shift to organic farming. According to Peter Jones, ACM, general manager, processors and majority of the suppliers are hoping to venture into the organic dairy sector which will boost the prospects of organic dairy food and drinks in the region.
The organic dairy food and drinks market has a massive growth potential in the Asia-Pacific region. The region offers high scope of growth and lucrative opportunities for investors and several market players hoping to enter the organic dairy industry. The competitive landscape of the region is vibrant which is a clear indication of the dynamic growth potential of the industry in the next few years. The adoption of organic dairy products is high in the developed regions such as North America and Europe as the countries in these regions have established home markets. However, Asia-Pacific has shown a significant growth with a prospective CAGR of 14.81% for the period 2016-2022. The increase in the overall economic conditions in the region has increased the overall spending power of consumers. Moreover, consumers are inclined towards consuming healthier dairy food and drinks owing to the health benefits associated with them. New market entrants look at the region as a lucrative market with a high consumer base.
The high consumer base in the region urges market players to bring innovations in their products as well as the marketing strategies adopted by them. Several market players are entering the Asia-Pacific market by developing and launching a wide range of organic dairy products at competitive prices. Environmental concerns coupled with growing awareness about healthier lifestyle options will boost the prospects of the industry in the region.
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