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The Current Trends in the World Market of Organic Products
Galutskykh N. А., Didorchuk I. L.

Galutskykh, Nataliia А., and Didorchuk, Iryna L. (2024) “The Current Trends in the World Market of Organic Products.” Business Inform 2:20–26.
https://doi.org/10.32983/2222-4459-2024-2-20-26

Section: Foreign Experience

Article is written in Ukrainian
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UDC 338.439:631.147

Abstract:
Organic production meets the needs for healthy and ecological food, the demand for which is growing every year. The global market for organic products is growing by an average of 10% annually and, according to forecasts, will amount to about USD 220 billion in 2026. In terms of value, the market is estimated at almost 130 billion US dollars. It consists of the national markets of the countries of the European Union, North America and Japan. The number of organic producers is constantly growing. Thus, according to the International Union of the Organic Movement («IFOAM»), more than 3 million farms grow organic products in 187 countries of the world. The regional structure of the world market of organic products is characterized by heterogeneity: about 45% of the world market belongs to European countries. Among them, the largest producers are Italy, Spain, Germany and France. Among the leading companies in the organic market, Danone, Nestle, General Mills, SunOpta, Hain Celestial and Organic Valley are distinguished, which involve certified farmers in this area. The largest importers of organic products in the world are the United States (imports amount to more than 3.0 billion US dollars), the EU countries (2.8 billion US dollars) and Japan (1.4 billion US dollars). In Ukraine, organic production is certified in accordance with the standards of the Council Regulation (EU) and NOP (USA). The largest markets for Ukrainian organic products are the EU, North America and Asia. Prospects for the development of the world market of organic products depend on a combination of factors, among them are: consumer awareness of the benefits of organic products and the desire for a healthy lifestyle; further development of innovative technologies for growing and processing organic products; lower prices for organic products; improvement of legislation, which ensures quality control of organic products and increases consumer confidence in organic products; the State support through special funding programs. The main current trends in the global market of organic products are the following: the growth of prices for organic products at a faster pace than for non-organic products, which in some way restrains the growth of demand for these products; rapid introduction of innovations in organic farming (e.g. in agroecological systems); increase in the number of certified organic farms; increasing demand for certain segments of the product range (the most popular are fruits and vegetables, which account for almost 40% of the total volume of organic products); growing demand for organic baby food products and products labeled «fair trade» (lactose-free and gluten-free); using artificial intelligence (AI) to track all stages of organic production and transportation. All these trends indicate the potential for further growth in demand for organic products around the world.

Keywords: global market of organic products, demand for organic products, innovative technologies for growing and processing organic products.

Fig.: 7. Tabl.: 1. Bibl.: 16.

Galutskykh Nataliia А. – Candidate of Sciences (Economics), Associate Professor, Department of International Economics and World Economy, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]
Didorchuk Iryna L. – Senior Lecturer, Department of International Economics and World Economy, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]

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