Vegetables - ASEAN | Statista Market Forecast

Gross production value in Vegetables market is projected to amount to US$19.97bn in 2024. An annual growth rate of 1.10% is expected (CAGR 2024-2029), resulting in gross production value of US$21.10bn in 2029.
The import value in Vegetables market is projected to amount to US$4.7bn in 2024. An annual growth rate of 0.49% is expected (CAGR 2024–2029).
The export value in Vegetables market is projected to amount to US$601.0m in 2024. An annual growth rate of 1.63% is expected (CAGR 2024–2029).

Definition:

The vegetable market covers the total gross production value for items including Broad beans and horse beans (green), cabbages, cantaloupes and other melons, carrots and turnips, cauliflowers and broccoli, green garlic, Leeks and other alliaceous vegetables, lettuce and chicory, onions and shallots, dry (excluding dehydrated), onions and shallots, green, spinach, tomatoes, artichokes, asparagus, mushrooms and truffles, avocados, currants, green corn (maize), string beans, locust beans (carobs).

Additional Information:

The market comprises gross production value and gross production value growth rates, import and export value. Data is only provided for the countries that are active in the above-mentioned markets. The market only displays B2B values.

The term "Revenue" in the title of the charts and chapter refers to the gross production value within this market.

Leafy Vegetables
Cruciferous Vegetables
Root Vegetables
Legumes and Others

Potatoes
Sweet potatoes
Zucchini
Eggplants

The agriculture market is a vast and complex industry that involves the production of various items like crops or livestock products. In recent years, there has been a significant increase in the demand for crops and livestock products, which has resulted in the growth of these markets of the agriculture market. The increasing demand for this market is driven by factors like population growth, changing diets, and urbanization.

The agriculture production market faces several challenges that impact its growth and sustainability, such as climate change, which affects crop yields, soil fertility, and water availability. Droughts, floods, extreme temperatures, and changing rainfall patterns are just a few examples of how climate change impacts agriculture production. This market also faces challenges related to technology adoption, particularly in developing countries. The use of modern agricultural technologies, such as precision farming, drones, and artificial intelligence, can increase yields, reduce costs, and improve efficiency. Trade and market access are other challenges. Tariffs, quotas, and other trade barriers can limit access to global markets, reducing the profitability of agriculture production. Agricultural producers also face competition from low-cost imports, which can undermine local production and threaten food security.

The COVID-19 pandemic and the ongoing war in Ukraine have had significant impacts on the agriculture market.

The pandemic disrupted supply chains and led to reduced demand for certain agricultural products due to changes in consumer behavior and government-imposed lockdowns. This resulted in an increase in prices for some commodities, such as meat and dairy products, as well as a slowdown in global trade. The pandemic also highlighted the vulnerability of food systems to disruptions, emphasizing the need for resilience and adaptation in the agriculture market.

The war in Ukraine has also had a significant impact on the agriculture market. Ukraine is a major producer of crops such as wheat, corn, and barley, and the ongoing conflict has disrupted agricultural production and exports. The conflict has resulted in the loss of farmland and destruction of infrastructure, leading to reduced yields and lower quality crops. The disruption of trade routes and supply chains has also impacted the availability of Ukrainian agricultural products on the global market, which has in turn affected prices and supply in other regions.

All in all, the future outlook of the agriculture market is promising, as the demand for food products continues to grow due to population growth and changing diets. Technological advancements are expected to increase productivity and efficiency in the sector, while sustainability concerns will also become increasingly important. However, the agriculture market also faces challenges such as climate change, water scarcity, and extreme weather events, which may increase the volatility of agricultural commodity prices and reduce the availability of arable land. Despite these challenges, the cereals market is expected to remain the largest market of the agriculture market, with significant growth potential in emerging economies.

Data coverage:

The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, 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.

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 S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.

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.

This report presents a comprehensive analysis and additional information on the Industrial market, in a PDF format.

The term “organic” broadly applies to the production of agricultural goods without the use of man-made chemicals. Organically produced goods include food, food supplements, clothing, gardening products, cleaning agents, cosmetics, as well as other health and personal care products. The desire for organic food products emerged as a response to a shift towards the use of synthetic pesticides and fertilizers following the advent of industrialized agriculture in the 1900s. The additional introduction of antibiotics, genetically modified organisms, and growth hormones in food production further drove up the demand for organic farming.