Vegetables - Baltics

Baltics

Revenue in the Vegetables market amounts to US$1.87bn in 2024. The market is expected to grow annually by 4.59% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (US$159bn in 2024).
In relation to total population figures, per person revenues of US$320.30 are generated in 2024.
In the Vegetables market, volume is expected to amount to 0.94bn kg by 2029. The Vegetables market is expected to show a volume growth of 1.7% in 2025.
The average volume per person in the Vegetables market is expected to amount to 148.3kg in 2024.

Key regions: Japan, United Kingdom, Philippines, India, Canada

Market

Region

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Analyst Opinion

The Vegetables Market in the Baltics is witnessing negligible growth, influenced by factors such as shifting consumer preferences towards convenience, increasing health consciousness, and competition from imported goods, which affects both fresh and processed vegetable segments.

Customer preferences: Consumers in the Baltics are increasingly prioritizing plant-based diets, reflecting a growing awareness of sustainability and health benefits associated with vegetable consumption. This trend is particularly evident among younger demographics, who are more inclined to explore organic and locally sourced produce. Additionally, the rise of convenience-oriented lifestyles has spurred demand for ready-to-eat vegetable products and meal kits, catering to busy individuals seeking nutritious options. Cultural appreciation for traditional dishes is also influencing the incorporation of diverse vegetable varieties in everyday meals.

Trends in the market: In the Baltics, the Vegetables Market is experiencing a notable shift towards plant-based offerings, driven by heightened consumer awareness of health and environmental sustainability. This trend is gaining momentum particularly among younger consumers, who are increasingly favoring organic and locally sourced vegetables. The demand for convenience is also on the rise, with ready-to-eat vegetable products and meal kits becoming popular choices for busy lifestyles. Additionally, there is a resurgence of interest in traditional recipes, leading to a wider incorporation of diverse vegetable varieties. This evolving landscape presents significant opportunities for producers, retailers, and food innovators to align their strategies with these consumer preferences and capitalize on the growing market potential.

Local special circumstances: In the Baltics, the Vegetables Market is influenced by a rich agricultural heritage and a strong emphasis on sustainability. The region’s diverse climatic conditions allow for a variety of vegetable cultivation, fostering local production and seasonal offerings. Cultural traditions emphasize the use of fresh, local ingredients, driving demand for organic vegetables. Additionally, EU regulations support sustainable farming practices, enhancing consumer trust in local products. These unique factors shape market dynamics, encouraging innovation and collaboration among local producers, retailers, and consumers.

Underlying macroeconomic factors: The Vegetables Market in the Baltics is significantly influenced by macroeconomic factors such as national economic stability, consumer spending trends, and agricultural policies. A robust national economy fosters increased disposable income, encouraging consumers to prioritize fresh and organic vegetables. Global economic trends, including fluctuating commodity prices and trade agreements, impact local vegetable production costs and availability. Furthermore, EU fiscal policies promoting sustainable agriculture bolster investments in eco-friendly farming technologies. Additionally, rising health awareness among consumers amplifies the demand for locally sourced, nutritious vegetables, ultimately driving market growth.

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.