Vegetables - Worldwide

Worldwide

Revenue in the Vegetables market amounts to US$1.08tn in 2024. The market is expected to grow annually by 6.89% (CAGR 2024-2028).
In global comparison, most revenue is generated in China (US$159bn in 2024).
In relation to total population figures, per person revenues of US$139.20 are generated in 2024.
In the Vegetables market, volume is expected to amount to 649.20bn kg by 2028. The Vegetables market is expected to show a volume growth of 4.3% in 2025.
The average volume per person in the Vegetables market is expected to amount to 72.5kg in 2024.

Key regions: Russia, China, Japan, Philippines, South Korea

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Analyst Opinion

Vegetable sales have steadily increased over time and even withstood the pressure of the COVID-19 pandemic. Due to their longer shelf lives, frozen vegetables in particular, were among the most popular foods among consumers during the pandemic. A poll by the American Frozen Food Institute found that of more than 1,200 adults in the U.S., 34% of consumers had bought more frozen vegetables in 2020 than they did in pre-pandemic times. The growing vegan population, increasing concerns about the environmental impact of animal agriculture, and health/wellness trends paired with the growing popularity of vegetables as a source of protein are expected to drive the growth of this segment.

Another contributing factor in this segment’s growth has been the increasing popularity of organic vegetables. Organic food was previously primarily purchased by a small portion of the population, predominantly by those who were willing to pay a premium for organic products. However, there has been a surge in interest among a broader range of consumers in recent years, particularly among younger families and health-conscious individuals. The growing number of online grocery delivery start-ups carrying out last-mile delivery services has also fueled the development of the Vegetables segment.

One of the major challenges faced by the industry is climate change, which could have an adverse impact on production in the long term. In the U.S., for example, the area used for vegetable production has been decreasing since 2000. In 2021, some 2.3 million acres were used for growing vegetables, compared to the use of 3.5 million acres only two decades earlier. To counter this, the industry is coming out with innovative trends in production and manufacturing processes, e.g., vertical farming.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.