The organic product market is becoming important in countries such as China, Korea, India, and Thailand. Organic tropical fruits, nuts, and spices account for a large proportion. Notably, these agricultural products are advantageous export items of Vietnam.
According to the Department of Agricultural Product Processing and Market Development (Ministry of Agriculture and Rural Development), the export turnover of organic agricultural products in Vietnam has reached about US$335 million/year, exported to 180 markets. This is small compared to the current size of the global organic product market, but it also shows the great potential of Vietnamese organic products for export.
It is forecast that revenue for organic products is expected to increase strongly to $437.36 billion by 2026 with a compound annual growth rate (CAGR) of 14%.
In fact, in the past ten years (2011-2020), all countries promoted organic agricultural production. The area of organic agricultural land increased by 214.5% in Australia, 66.7% in Asia, 95% in Africa, 62.1% in Europe, 42% in Latin America, and 24% in North America during this period.