Vegetables - Southeast Asia

Southeast Asia

Revenue in the Vegetables market amounts to US$78.70bn in 2024. The market is expected to grow annually by 7.14% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (US$159bn in 2024).
In relation to total population figures, per person revenues of US$112.60 are generated in 2024.
In the Vegetables market, volume is expected to amount to 57.32bn kg by 2029. The Vegetables market is expected to show a volume growth of 4.8% in 2025.
The average volume per person in the Vegetables market is expected to amount to 67.4kg in 2024.

Key regions: Japan, United Kingdom, Philippines, India, Canada

Market

Region

Region comparison

Currency

Analyst Opinion

The Vegetables Market in Southeast Asia is experiencing minimal growth, influenced by factors such as fluctuating consumer preferences, competition from imported products, and the increasing demand for convenience in processed options, which affects fresh vegetable sales.

Customer preferences: Consumers in Southeast Asia are increasingly prioritizing health and wellness, prompting a shift towards organic and locally sourced vegetables that align with their nutritional goals. This trend is fueled by a growing awareness of food safety and sustainability, particularly among younger, health-conscious demographics. Additionally, urbanization and busy lifestyles are driving demand for pre-cut and ready-to-cook vegetable options, catering to the need for convenience without compromising on quality. As a result, the market is witnessing a rise in innovative packaging and delivery services that enhance accessibility.

Trends in the market: In Southeast Asia, the Vegetables Market is experiencing a notable shift toward organic and locally sourced produce, driven by consumers' increasing focus on health and wellness. This trend is particularly pronounced among younger demographics who prioritize food safety and sustainability. Urbanization is also influencing purchasing behaviors, as busy lifestyles boost demand for pre-cut and ready-to-cook vegetable options. The rise of innovative packaging and delivery services is enhancing accessibility, providing convenience while meeting quality expectations. These trends hold significant implications for farmers, retailers, and food service providers, necessitating adaptations to meet evolving consumer preferences.

Local special circumstances: In Southeast Asia, the Vegetables Market is uniquely shaped by diverse agricultural practices and local culinary traditions, which emphasize fresh, seasonal produce. The region's varied climate allows for a wide range of vegetables to be grown year-round, but challenges like inconsistent regulatory standards and supply chain inefficiencies can affect quality and availability. Additionally, cultural preferences for specific vegetables drive demand patterns, influencing farmers to adapt their crops accordingly. As health consciousness rises, local governments are increasingly promoting organic farming initiatives, further shaping market dynamics.

Underlying macroeconomic factors: The Vegetables Market in Southeast Asia is significantly influenced by macroeconomic factors such as regional economic growth, trade policies, and consumer spending trends. Strong economic performance in countries like Indonesia and Vietnam encourages higher disposable incomes, leading to increased demand for fresh and organic produce. Additionally, favorable trade agreements facilitate cross-border vegetable trade, enhancing market access and competitiveness. However, inflationary pressures and fluctuating commodity prices can impact production costs and retail prices. Furthermore, government investments in agricultural infrastructure and sustainability initiatives are pivotal in addressing supply chain inefficiencies, ultimately shaping market dynamics and availability of fresh vegetables.

Methodology

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.