The organic farming market is associated with the sales of produces by farms that produce them in organic ways. The organic farming is an alternative form of farming for crops and livestock’s produce which doesn`t use pesticides, artificial fertilizers, genetically modified organisms and antibiotics to increase the production. This has many benefits to the environment and the individuals using these yields.
The global organic farming market is expected to grow from $88.79 billion in 2019 and to $95.90 billion in 2020 at a compound annual growth rate (CAGR) of 8%. The growth is stable across many countries due to the COVID-19 outbreak and the extending lockdown as a measure to contain it, however, strong growth is registered in USA even during the lockdown. The market is then expected to recover and reach $131.55 billion in 2023 at CAGR of 11.11%.
