Vegetables - Nepal

Nepal

Highlights

Revenue in the Vegetables market amounts to US$1.24bn in 2024. The market is expected to grow annually by 8.26% (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$39.63 are generated in 2024.
In the Vegetables market, volume is expected to amount to 833.20m kg by 2029. The Vegetables market is expected to show a volume growth of 4.1% in 2025.0.
The average volume per person in the Vegetables market is expected to amount to 23.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Vegetables Market in Nepal is experiencing subdued growth, influenced by factors such as fluctuating weather patterns, limited access to modern farming techniques, and varying consumer preferences for fresh versus processed options, impacting overall market dynamics.

Customer preferences: In Nepal, consumers are increasingly favoring organic and locally sourced vegetables, driven by a growing awareness of health and sustainability. This shift reflects a cultural emphasis on traditional diets and the nutritional benefits of fresh produce. Additionally, urbanization and changing lifestyles are prompting younger demographics to seek convenience, leading to a rise in online vegetable delivery services. As more households adopt busy routines, the demand for pre-packaged and ready-to-cook vegetable options is also on the rise, reshaping the market landscape significantly.

Trends in the market: In Nepal, the vegetable market is experiencing a notable shift towards organic and sustainably sourced options, as consumers prioritize health and environmental consciousness. The increasing urban population is driving demand for convenient shopping solutions, leading to a surge in online platforms offering fresh produce delivery. Additionally, the rise of busy lifestyles has fueled interest in pre-packaged and ready-to-cook vegetables, appealing particularly to younger consumers. This evolving landscape presents significant opportunities for farmers, retailers, and tech entrepreneurs, encouraging innovation and collaboration within the industry.

Local special circumstances: In Nepal, the vegetable market is shaped by its diverse geography, with varying altitudes and climates fostering a wide range of local produce. The cultural preference for fresh, seasonal vegetables is prominent, influencing purchasing behaviors and supporting local farmers' markets. Furthermore, regulatory support for organic farming practices is gaining traction, promoting sustainable agriculture. These factors create a unique environment that encourages community-based initiatives and enhances the appeal of traditional farming methods, ultimately enriching the vegetable market landscape.

Underlying macroeconomic factors: The dynamics of the vegetable market in Nepal are significantly influenced by overarching macroeconomic factors such as national economic health, trade policies, and global commodity prices. The country’s economic growth, driven by agriculture’s contribution to GDP, enhances investment in rural infrastructure, thereby facilitating better access to markets for local farmers. Additionally, favorable fiscal policies promoting organic farming and sustainable practices support the transition towards more environmentally friendly agricultural methods. Global trends, such as increasing demand for organic produce and health-conscious consumption, further encourage local production and export opportunities, ultimately shaping the performance of Nepal's vegetable 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.