Jul 7, 2020
Organic berries market forecast to reach $1 billion by 2027
The global organic berries market size is predicted to top $1 billion by 2027, according to a new report from Fortune Business Insights.
The market is driven by the increasing acceptance of organic berries owing to the heavy demand for chemical-free fruits and vegetables around the world, according to a Fortune Business Insights report.
The market size stood at $846.89 million in 2019 and is expected to exhibit a compound annual growth rate (CAGR) of 2.40% between 2020 to 2027, according to a news release from Fortune Business Insights.
The market size stood in North America at USD 488.75 in 2019 and is predicted to grow rapidly during the forecast period. The growth in the region is attributed to the growing functional drinks/foods, according to the news release. The rising demand for organic fruits and vegetables will promote the growth of the market in North America.
The strawberries segment is expected to account for the largest share in the global market during the forecast period, according to the news release. The growth is attributed to the wide availability and consumption of strawberries. The rising awareness regarding the benefits of strawberries such as vitamin C, folates, minerals, and various antioxidant components will further augment the growth of the segment.
The rising production of organic processed food products can be a vital factor propelling the growth of the market, according to the news release.
The global market is dominated by the presence of various players in the market such as SunOpta, Inc., Royal Ridge Fruits, Wish Farms Inc. and Driscoll’s Inc, according to the news release. The rising focus of manufacturers toward high production capabilities is predicted to favor the growth of the market.