In an encouraging sign for the country’s sustainable business entrepreneurs, a recent report has estimated that the organic food market in India is growing at an encouraging 20% CAGR.
Yes Bank recently released a report ‘Indian Organic Foods Market’. According to this report, the organic food market in India (including exports) is currently valued at Rs 1000 crores. The Asia-Pacific organic food market had a total revenue of $3.5 billion in 2010 and had a CAGR of 16.2% between 2006-2010, it said.
Globally, the report said the organic food and beverages market is expected to grow from $57.2 billion in 2010 to $104.5 billion by 2015 with a CAGR of 12.8%, with Europe contributing to the largest share of the organic foods market in 2010 with revenue of $27.8 billion.
One would tend to think that Rs 1000 crores is a decent enough market size to start with.
The total size of the Indian food & beverages market is about $190 billion (10 lac crores). Looked at from this angle, suddenly the organic foods market appears way too small – 0.1%. Well, I guess you could look at this as a problem, or an opportunity – the 99.9% is still up for grabs!
