17% of New Food Products Launched in Europe have Organic Label: Mintel Research
Organic food products segment is growing fast across Europe with nearly 17 percent of the new products launched in Europe carrying an organic claim. As per Mintel Global New Products Database, over the last 10 years till July 2019, the products carrying organic claim have grown from 6 percent to 10 percent, globally. However, Europe is leading market for new organic products with nearly 17 percent of new product launches, having an organic claim, in the food and drink segment.
In European market, France is leading the shift to organic products accounting for 22% of all organic launches. Germany (20%) and Spain (9%) follow France in terms of organic product launch.
“Organic produce has seen growing support among European consumers at a time of increasing concerns for wellbeing, health, and the environment,” said Katya Witham, global food and drink analyst at Mintel.
Mintel also feels that there is much more opportunity in organic wine sector. Organic food is finding more space in supermarkets and traders are ready to try new products in this segment. Millennials and higher end consumers are more likely to shift to organic products.
The price difference between organic products and conventional products is also reducing in some segments. In case there is higher sales volume in organic segment, manufacturers will be able to reduce costs further.
Organic products have been gaining prominence and grabbing shelf space from conventional products over the last few years.
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Organic market is developing fast and companies have been launching products in organic and natural segment at a much faster pace.
Organic food products segment is growing fast across Europe with nearly 17 percent of the new products launched in Europe carrying an organic claim.