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Business EconomyPosted at: Mar 21 2018 4:04PM


Organic packaged food market to cross 871 mn by 2021: Study

New Delhi, Mar 21 (UNI) The market size for Indian organic packaged food is expected to cross Rs 871 million by 2021 from Rs 533 million in 2016, growing at a rate of 17 per cent.
A joint study by industry body ASSOCHAM and Ernest and Young revealed the substantial growth of this sector is attributed to an expanding urban population base, rising health concerns, growing consumer spending on food products and deterioration of food quality.
The joint study was released at an event organized by ASSOCHAM here on Wednesday.
The study further said, organic packaged food and beverages was an emerging niche market in India and its primary consumers were high-income urbanites.
As demand for organic food in the metro cities increases, the companies in this sector are witnessing notable growth with the entry of several new players in the organic food market, the study noted.
“In addition to the growing domestic market, India is the second largest exporter of organic products in Asia after China. The increasing export market coupled with the Government’s support has made organic cultivation in India highly successful”, EY Partner Amit Vatsyayan said.
Indian organic food exports were estimated at US$299 million during 2015-16 with total volume of 263,688 MT.
The major export destinations were the US, European Union, Canada and New Zealand. It is assumed that most of the remaining quantity is sold in local markets. Oilseeds comprised half of India’s overall organic food export, followed by processed food products at 25 per cent, the paper noted.
According to the study, India currently holds the ninth position among 178 countries that actively practice organic agriculture. At present, the country is home to more than 835,000 organic producers, 699 processors, 669 exporters and 1.49 million ha area under organic cultivation.
However, with only a meagre 0.4 per cent of the total agricultural land area designated for organic cultivation, the industry presents extensive scope for expansion.
Earlier speaking at the event, Union Agriculture and Farmers Welfare Minister, Radha Mohan Singh stressed the need to promote ‘Organic farming’ with the same spirit as ‘Green Revolution’.
He said that the country should progress to be an organic nation and chemical-free country.
Organic farming is a way of farming, which excludes the use of chemical fertilisers, insecticides, etc. It is primarily based on the principles of use of natural organic inputs and biological plant protection measures.
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