Overview of the Organic Food Market in the US In the US, the organic food market has evolved rapidly. From being a niche market segment to a mainstream market, the sales of organic food in the US has skyrocketed over the past few years and was estimated to be approximately $45 billion in 2017 alone. […]
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Overview of the Organic Food Market in the US
In the US, the organic food market has evolved rapidly. From being a niche market segment to a mainstream market, the sales of organic food in the US has skyrocketed over the past few years and was estimated to be approximately $45 billion in 2017 alone. This has made the organic food market the fastest growing food market segment in the US. The annual double-digit growth in organic food sales has outstripped the growth rate of the overall food industry. Also, with several unprecedented conclusive studies linking economic health to the use of organic food, leading food industry players are now looking at capitalizing on new opportunities within this segment.
Organic Food Store Challenges
- New food trends gaining momentum: New food movements in the form of the vegan food trend, gluten-free, non-GMO, and flexitarian diets have severely impacted the market. With such trends gaining momentum in the market, companies in the organic food store segment are poised to face challenges in establishing their presence and attracting consumers.
- Navigating industry nuances: The certifications on food labels are generally easy to understand and include GMO, gluten-free, preservative-free, and so on. Unlike general food labels, organic food labels are not so easy to interpret in detail, though we know it revolves around ter
ms like pesticide-free, antibiotic-free, and GMOs. The challenge for players in this segment is to identify ways to fit the nuances of the organic certification, which is one of the most stringent in the industry.
Engagement Summary:
The key decisions makers of the organic food store wanted to gain a broad understanding of the global competition. Hence, they approached Infiniti Research to leverage competitive intelligence insights to develop a competitor analysis framework and develop a future-proofed business plan. The competitor analysis template helped them develop the core competencies that are required to sustain a competitive advantage.
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