Fresh Vegetables - Armenia

Armenia

Highlights

Revenue in the Fresh Vegetables market amounts to US$725.90m in 2024. The market is expected to grow annually by 9.24% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$101bn in 2024).
In relation to total population figures, per person revenues of US$261.30 are generated in 2024.
In the Fresh Vegetables market, volume is expected to amount to 567.50m kg by 2029. The Fresh Vegetables market is expected to show a volume growth of 7.1% in 2025.0.
The average volume per person in the Fresh Vegetables market is expected to amount to 159.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Vegetables Market in Armenia is experiencing subdued growth, influenced by factors such as fluctuating agricultural yields, changing consumer preferences for variety and quality, and the challenges of supply chain logistics in rural regions.

Customer preferences: Consumers in Armenia's Fresh Vegetables Market are increasingly prioritizing organic and locally sourced produce, reflecting a growing awareness of health and sustainability. This trend is fueled by younger demographics, who are more inclined to explore diverse culinary experiences and seek higher quality ingredients. Moreover, urbanization is shifting preferences towards convenience, with a rise in demand for pre-packaged and ready-to-cook vegetable assortments. Additionally, traditional cooking practices are being blended with modern dietary trends, further shaping the market landscape.

Trends in the market: In Armenia's Fresh Vegetables Market, the shift towards organic and locally sourced produce is gaining momentum, driven by heightened consumer awareness regarding health and sustainability. Younger demographics are embracing this trend, exploring diverse culinary experiences while prioritizing quality ingredients. Urbanization is also influencing preferences, leading to increased demand for pre-packaged and ready-to-cook vegetable assortments. This blending of traditional cooking with modern dietary trends is reshaping the market landscape, presenting significant opportunities and challenges for producers, retailers, and policymakers in adapting to evolving consumer needs.

Local special circumstances: In Armenia, the Fresh Vegetables Market is significantly shaped by its unique geographical conditions, such as fertile soil and a favorable climate for diverse crops. Traditional Armenian culinary practices emphasize the use of fresh, seasonal ingredients, fostering a strong local demand for high-quality produce. Furthermore, government initiatives aimed at promoting sustainable agriculture and organic farming are encouraging farmers to adopt eco-friendly practices. Cultural heritage also plays a role, as younger generations increasingly seek to connect with their roots while exploring modern culinary trends, driving innovation in the market.

Underlying macroeconomic factors: The Fresh Vegetables Market in Armenia is significantly influenced by macroeconomic factors such as agricultural policy support, global trade dynamics, and domestic economic stability. With a focus on enhancing food security, the Armenian government has implemented favorable fiscal policies that promote local farming and reduce import dependency. Additionally, fluctuations in global commodity prices and trade agreements affect the cost and availability of fresh produce. Armenia's economic health, characterized by GDP growth and inflation rates, directly impacts consumer purchasing power and demand for quality vegetables. Moreover, the increasing trend towards health-conscious eating globally reinforces the local market's potential for growth, aligning with evolving consumer preferences for fresh, organic produce.

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.