Vegetables - Mongolia

Mongolia

Highlights

Revenue in the Vegetables market amounts to US$530.00m in 2024. The market is expected to grow annually by 11.67% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$159bn in 2024).
In relation to total population figures, per person revenues of US$151.70 are generated in 2024.
In the Vegetables market, volume is expected to amount to 317.30m kg by 2029. The Vegetables market is expected to show a volume growth of 5.1% in 2025.0.
The average volume per person in the Vegetables market is expected to amount to 75.5kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Vegetables Market in Mongolia is witnessing mild growth, influenced by factors such as the rising demand for fresh produce, growing health consciousness, and an increasing preference for convenient meal options, including processed and frozen vegetables.

Customer preferences: Consumers in Mongolia are increasingly gravitating towards organic and locally-sourced vegetables, reflecting a growing awareness of health and sustainability. This trend is further influenced by younger generations who prioritize fresh, nutrient-rich foods over processed alternatives. Additionally, urbanization is driving demand for convenient meal solutions, such as pre-cut vegetables and ready-to-cook options. Cultural preferences for traditional dishes are also evolving, prompting interest in innovative vegetable varieties that cater to both nostalgic tastes and modern culinary experiments.

Trends in the market: In Mongolia, the Vegetables Market is seeing a significant shift towards organic and locally-sourced produce, driven by consumers' heightened awareness of health and environmental sustainability. Younger generations are increasingly favoring fresh, nutrient-dense vegetables over processed options, reflecting a broader global trend. Urbanization is also influencing this market, as busy city dwellers seek convenient meal solutions like pre-cut and ready-to-cook vegetables. Furthermore, the fusion of traditional Mongolian dishes with innovative vegetable varieties is gaining popularity, offering industry stakeholders opportunities to diversify their product offerings and cater to evolving consumer preferences.

Local special circumstances: In Mongolia, the Vegetables Market is profoundly shaped by its unique geographical and cultural context. The country’s harsh climate and vast steppe landscapes limit the variety of locally-grown vegetables, making seasonal produce highly sought after. Traditional Mongolian cuisine, which emphasizes meat and dairy, is gradually incorporating more vegetables, influenced by a growing interest in balanced diets. Additionally, regulatory frameworks encouraging organic farming practices are fostering a shift towards sustainable agriculture, enabling local farmers to meet the rising consumer demand for fresh, chemical-free produce. This combination of factors is driving innovation and diversification within the market.

Underlying macroeconomic factors: The Vegetables Market in Mongolia is influenced by macroeconomic factors such as national economic growth, trade policies, and investment in agricultural infrastructure. As the Mongolian economy gradually diversifies, increased focus on sustainable farming practices and organic produce is emerging, aided by fiscal policies that promote agricultural development. Global trends towards health-conscious eating and environmental sustainability are also impacting local consumption patterns, driving demand for fresh vegetables. Furthermore, fluctuating commodity prices and climate change effects pose challenges, necessitating innovative solutions to enhance productivity and ensure food security within the market.

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.