A study on the Expected Compound Annual Growth Rate of Indian Organic Food Industry in comparison with Global Organic Food Industry

Abstract

The high growth of population and digitalisation, the current economy is growing at a faster pace to fulfil their needs both personal and psychological. Individual’s decisions are mainly based on the available information and by considering peer needs. The use of inorganic products with pesticides, added preservatives, coloring etc had badly affected the health of consumers. The concern for nutritional safety has increased because of the improved modes of education. Overexploitation of natural and non renewable resources also affected the sustainability of the environment where we all live. Organic farming, organic pest control, crop rotation, recycling, etc will surely solve the issues in the environment to a level. Organic market is facing lot of challenges in the global market because of the shortage of organic products and competition from other producers. The United States Department of Agriculture (USDA), promotes the organic food industry in the world economy. The government of India is also promoting organic farming through newly adopted programs like Harithakeralam, NPOP, Rashtriya Krishi Vikas Yogana etc. This will surely lead to a penetrated growth for organic food market. The current study evaluates the secondary sources of data to study the growth rate of organic industry in India and in the world. The study found that the organic food industry in India shows a positive growth in the future periods.