Processed & Frozen Vegetables - Armenia

Armenia

Highlights

Revenue in the Processed & Frozen Vegetables market amounts to US$143.10m in 2024. The market is expected to grow annually by 8.63% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$58bn in 2024).
In relation to total population figures, per person revenues of US$51.50 are generated in 2024.
In the Processed & Frozen Vegetables market, volume is expected to amount to 83.92m kg by 2029. The Processed & Frozen Vegetables market is expected to show a volume growth of 6.2% in 2025.0.
The average volume per person in the Processed & Frozen Vegetables market is expected to amount to 24.2kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Processed & Frozen Vegetables Market in Armenia is experiencing subdued growth, impacted by factors such as limited consumer awareness and lack of advanced technologies. Despite this, convenience and health consciousness are driving demand for online vegetable services.

Customer preferences: As more Armenians adopt Western eating habits, there has been a rise in demand for processed and frozen vegetables, particularly among urban dwellers looking for convenient and time-saving options. Additionally, with the growing awareness of the benefits of a plant-based diet, there has been an increase in demand for frozen vegetables, particularly among health-conscious consumers. This trend is expected to continue as more young professionals gravitate towards busy lifestyles and seek out convenient and healthy food options.

Trends in the market: In recent years, the Processed & Frozen Vegetables Market of the Vegetables Market within The Food market in Armenia has experienced a shift towards healthier and more convenient options. With an increasing focus on health and wellness, there has been a rise in demand for processed and frozen vegetables that are free from additives and preservatives. This trend is expected to continue as consumers become more health-conscious and seek out convenient ways to incorporate vegetables into their diets. Additionally, the adoption of new freezing technologies has enabled the production of high-quality frozen vegetables that retain their nutritional value and taste. This trend is significant for industry stakeholders as it presents new opportunities for growth and innovation in the market. However, it also poses challenges in terms of meeting consumer demands for sustainable and environmentally friendly packaging. As a result, industry players are exploring new packaging solutions to align with this trend.

Local special circumstances: In Armenia, the Processed & Frozen Vegetables Market of the Vegetables Market within The Food market is heavily influenced by the country's geographical location and rich agricultural heritage. The fertile soil and temperate climate allow for a wide variety of vegetables to be grown, making Armenia a major exporter of processed and frozen vegetables. Additionally, the country's close ties with Russia and other neighboring countries play a significant role in shaping the demand and supply of processed and frozen vegetables in the market.

Underlying macroeconomic factors: The Processed & Frozen Vegetables Market of the Vegetables Market within The Food market in Armenia is influenced by macroeconomic factors such as the country's economic stability, trade policies, and investment in the agricultural sector. The growth of the market is also impacted by global economic trends, as well as national economic health and fiscal policies. Countries with favorable economic conditions and strong investment in the agricultural sector are experiencing faster market growth compared to regions with economic challenges and limited funding for the sector. Additionally, the increasing demand for healthy and convenient food options worldwide is driving the demand for processed and frozen vegetables, further boosting market 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.