Fresh Vegetables - Southern Asia

Southern Asia

Highlights

Revenue in the Fresh Vegetables market amounts to US$103.90bn in 2024. The market is expected to grow annually by 8.74% (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$54.24 are generated in 2024.
In the Fresh Vegetables market, volume is expected to amount to 140.30bn kg by 2029. The Fresh Vegetables market is expected to show a volume growth of 5.3% in 2025.0.
The average volume per person in the Fresh Vegetables market is expected to amount to 59.5kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Vegetables Market in Southern Asia is experiencing subdued growth, influenced by factors such as fluctuating weather conditions, supply chain challenges, and varying consumer preferences, impacting the demand for diverse vegetable varieties across the region.

Customer preferences: Consumers in Southern Asia are increasingly prioritizing health and wellness, driving a notable shift towards organic and locally-sourced fresh vegetables. This trend is influenced by a growing awareness of nutrition and sustainability among younger demographics, particularly urban dwellers. Additionally, the rise of vegetarianism and plant-based diets, fueled by cultural practices and environmental concerns, is reshaping demand. Convenience and accessibility also play a role, with online grocery shopping gaining traction, making fresh vegetables more readily available to health-conscious consumers.

Trends in the market: In Southern Asia, the Fresh Vegetables Market is experiencing a significant shift towards organic produce, driven by consumers' increasing focus on health and wellness. Urban populations, particularly younger consumers, are becoming more aware of nutrition and sustainability, leading to higher demand for locally-sourced vegetables. Concurrently, the rise of vegetarianism and plant-based diets, influenced by cultural values and environmental concerns, is altering purchasing habits. The growth of online grocery shopping is enhancing accessibility, enabling health-conscious consumers to conveniently access fresh vegetables, which presents both opportunities and challenges for industry stakeholders.

Local special circumstances: In Southern Asia, the Fresh Vegetables Market is shaped by diverse agricultural practices and regional climates that influence crop availability and consumer preferences. The monsoon season plays a crucial role, impacting both production and pricing. Cultural traditions, such as the emphasis on fresh ingredients in local cuisines, further drive demand. Additionally, varying regulatory frameworks across countries affect organic certification processes, making it easier or harder for farmers to transition to organic practices. These unique local factors create a dynamic environment that distinguishes Southern Asia's fresh vegetable market from others globally.

Underlying macroeconomic factors: The Fresh Vegetables Market in Southern Asia is significantly influenced by macroeconomic factors such as agricultural productivity, income levels, and trade policies. Economic growth in the region has led to rising disposable incomes, increasing consumer demand for fresh produce. Additionally, fluctuations in global commodity prices can affect local vegetable pricing and availability. Supportive fiscal policies, including subsidies for farmers and investments in agricultural infrastructure, enhance production capabilities. Furthermore, the impact of climate change poses challenges to crop yields, necessitating adaptive strategies that can shape market dynamics and sustainability efforts in this sector.

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.