Fresh Vegetables - Mongolia

Mongolia

Highlights

Revenue in the Fresh Vegetables market amounts to US$494.70m in 2024. The market is expected to grow annually by 11.67% (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$141.60 are generated in 2024.
In the Fresh Vegetables market, volume is expected to amount to 301.50m kg by 2029. The Fresh Vegetables market is expected to show a volume growth of 5.1% in 2025.0.
The average volume per person in the Fresh Vegetables market is expected to amount to 71.8kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Vegetables Market in Mongolia is witnessing mild growth, influenced by factors such as shifting consumer preferences towards healthier diets, improved agricultural practices, and the increasing availability of fresh produce through local markets and online platforms.

Customer preferences: Consumers in Mongolia are increasingly prioritizing fresh, locally sourced vegetables as part of their shift towards healthier eating habits. This trend is fueled by a growing awareness of nutrition and wellness, particularly among younger demographics who are more health-conscious and environmentally aware. Additionally, the rise of online grocery platforms is making fresh produce more accessible, allowing urban dwellers to incorporate a variety of vegetables into their diets. Cultural traditions emphasizing seasonal and local foods further bolster this trend, promoting a sustainable approach to consumption.

Trends in the market: In Mongolia, the Fresh Vegetables Market is experiencing a notable shift toward organic and locally sourced produce, driven by increasing consumer demand for healthier food options. Urban consumers, especially younger generations, are becoming more attuned to the benefits of nutrition, leading to a rise in farmers' markets and community-supported agriculture initiatives. Additionally, the expansion of online grocery platforms is enhancing accessibility, allowing consumers to conveniently purchase fresh vegetables. This trend signifies a growing preference for sustainable practices, prompting industry stakeholders to adapt sourcing and distribution strategies to meet evolving consumer expectations.

Local special circumstances: In Mongolia, the Fresh Vegetables Market is shaped by unique geographical and cultural factors, such as the harsh climate and nomadic lifestyles that influence agricultural practices. Traditional farming is often challenged by short growing seasons, prompting a shift toward greenhouses and innovative farming techniques. Additionally, the cultural emphasis on fresh and locally sourced food is fostering community engagement through farmers' markets. Regulatory support for organic farming is emerging, further driving consumer interest in sustainable practices and enhancing the market's resilience against global supply chain disruptions.

Underlying macroeconomic factors: The Fresh Vegetables Market in Mongolia is influenced by macroeconomic factors such as agricultural policies, climate change, and international trade dynamics. The government’s commitment to enhancing food security through subsidies and support for local farmers promotes sustainable practices and encourages investment in modern agricultural technologies. Additionally, fluctuations in global commodity prices and trade agreements can impact the availability and pricing of imported fresh produce, driving consumers toward local options. The increasing awareness of health and nutrition, coupled with rising disposable incomes, further fuels demand for fresh vegetables, making it a resilient sector amidst economic uncertainties.

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.