Fresh Vegetables - Nepal

Nepal

Highlights

Revenue in the Fresh Vegetables market amounts to US$1.10bn in 2024. The market is expected to grow annually by 8.37% (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$35.31 are generated in 2024.
In the Fresh Vegetables market, volume is expected to amount to 745.90m kg by 2029. The Fresh Vegetables market is expected to show a volume growth of 4.2% in 2025.0.
The average volume per person in the Fresh Vegetables market is expected to amount to 20.6kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Vegetables market in Nepal is witnessing subdued growth, influenced by factors like fluctuating weather conditions, limited access to modern farming techniques, and varying consumer preferences for specific vegetables, which affect overall market dynamics.

Customer preferences: In Nepal, there is a notable shift in consumer preferences toward organic and locally sourced fresh vegetables, driven by a growing awareness of health and sustainability. Younger demographics, particularly millennials and Gen Z, are increasingly prioritizing nutrition and environmental impact, favoring vegetables that are chemical-free and grown using sustainable practices. Additionally, urbanization is leading to a rise in demand for convenience, with consumers gravitating towards pre-packaged, ready-to-cook vegetable options that align with their fast-paced lifestyles.

Trends in the market: In Nepal, the Fresh Vegetables Market is experiencing a surge in demand for organic produce, as consumers become increasingly aware of health benefits and environmental sustainability. The trend is particularly pronounced among younger consumers, who are adopting plant-based diets and seeking out locally sourced, chemical-free options. Furthermore, the urban population is driving the popularity of convenience-oriented products, such as pre-packaged and ready-to-cook vegetables. These shifts present significant opportunities for farmers, retailers, and distributors to innovate and align their offerings with evolving consumer preferences, enhancing market competitiveness.

Local special circumstances: In Nepal, the Fresh Vegetables Market is shaped by its diverse geography, which allows for a wide variety of crops to thrive in different climatic zones. The cultural significance of fresh produce, deeply rooted in traditional Nepali cuisine, fuels demand for locally sourced vegetables. Additionally, government initiatives promoting organic farming and sustainable practices further enhance market growth. The rise of urbanization leads to greater accessibility for consumers, while the community focus on health and nutrition drives interest in organic and chemical-free products, differentiating Nepal's market dynamics from others.

Underlying macroeconomic factors: The Fresh Vegetables Market in Nepal is significantly influenced by macroeconomic factors such as agricultural policies, trade regulations, and inflation rates. The government’s focus on promoting agro-based industries and providing subsidies for organic farming enhances production capacity and market supply. Additionally, fluctuations in global commodity prices affect local market dynamics, as Nepal imports certain vegetable varieties to meet demand. Urbanization and rising disposable incomes contribute to increased consumer spending on fresh produce, while ongoing efforts to improve infrastructure, such as transportation and storage facilities, further support market accessibility and growth.

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.