Vegetables - APAC | Statista Market Forecast

Vegetables - APAC

APAC

Highlights

Revenue in the Vegetables market amounts to US$497.80bn in 2024. The market is expected to grow annually by 6.64% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$159bn in 2024).
In relation to total population figures, per person revenues of US$116.10 are generated in 2024.
In the Vegetables market, volume is expected to amount to 359.50bn kg by 2029. The Vegetables market is expected to show a volume growth of 4.8% in 2025.0.
The average volume per person in the Vegetables market is expected to amount to 69.4kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Vegetables Market within The Food market in APAC is witnessing minimal growth, influenced by factors such as shifting consumer preferences toward convenience, rising health consciousness, and the increasing demand for processed and frozen options amid busy lifestyles.

Customer preferences: Consumers in the APAC Vegetables Market are increasingly gravitating toward plant-based diets, driven by a blend of health consciousness and environmental awareness. This trend is particularly strong among younger demographics, who prioritize sustainability and ethical sourcing. Additionally, the rising popularity of meal kits and ready-to-cook vegetable packs caters to busy lifestyles, offering convenience without sacrificing nutrition. Cultural influences, such as the integration of traditional dishes with modern cooking methods, are also shaping preferences, fostering a demand for innovative vegetable products.

Trends in the market: In the APAC Vegetables Market, there is a notable shift towards organic and sustainably grown produce, reflecting consumer demand for healthier and environmentally friendly options. Countries like India and Japan are witnessing a surge in urban gardening initiatives, empowering consumers to grow their own vegetables. Additionally, the rise of innovative processing techniques is leading to the popularity of ready-to-eat vegetable snacks. These trends indicate a significant move towards transparency in sourcing and production, compelling industry stakeholders to adapt their supply chains and marketing strategies to align with evolving consumer expectations.

Local special circumstances: In the APAC Vegetables Market, unique local factors significantly shape market dynamics. In China, rapid urbanization and a growing middle class have fueled demand for fresh, locally sourced vegetables, prompting cities to implement urban farming initiatives. Meanwhile, Japan's aging population is driving interest in nutrient-rich, easy-to-prepare vegetable options, influencing product development. In contrast, stringent food safety regulations in countries like Thailand encourage greater transparency in sourcing, compelling producers to adopt sustainable practices to meet consumer expectations and regulatory standards.

Underlying macroeconomic factors: The APAC Vegetables Market is significantly influenced by macroeconomic factors such as urbanization trends, income growth, and government policies. Rapid urbanization across the region is increasing demand for convenient, fresh produce, which drives investments in urban agriculture and supply chain improvements. Economic health indicators, such as rising disposable incomes in countries like India and Indonesia, further enhance consumer spending on higher-quality vegetables. Additionally, fiscal policies promoting sustainable agriculture and food safety regulations are encouraging producers to innovate and adopt eco-friendly practices, aligning with consumer preferences for transparency and quality in food sourcing.

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.