IndexBox has just published a new report: World – Vegetable – Market Analysis, Forecast, Size, Trends and Insights.
The vegetable market is poised for growth with an anticipated CAGR of +2.1% in volume and +4.2% in value from 2024 to 2030. By the end of 2030, market volume is projected to reach 1,722M tons and market value to reach $1,758.2B. Stay ahead of the curve with the latest insights and projections in the vegetable market.
Market Forecast
Driven by increasing demand for vegetables worldwide, the market is expected to continue an upward consumption trend over the next six-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.1% for the period from 2024 to 2030, which is projected to bring the market volume to 1,722M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +4.2% for the period from 2024 to 2030, which is projected to bring the market value to $1,758.2B (in nominal wholesale prices) by the end of 2030.
World Consumption of Vegetables
In 2024, consumption of vegetables decreased by -0.6% to 1,519M tons for the first time since 2016, thus ending a seven-year rising trend. The total consumption volume increased at an average annual rate of +1.1% over the period from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Over the period under review, global consumption reached the maximum volume at 1,527M tons in 2023, and then fell modestly in the following year.
The global vegetable market size totaled $1,374.1B in 2024, remaining stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.4% over the period from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Global consumption peaked at $1,376.1B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.
Read also: Fruits & vegetables on supermarkets’ shelves in Singapore, trade center of Southeast Asia
Consumption By Country
China (693M tons) constituted the country with the largest volume of vegetable consumption, comprising approx. 46% of total volume. Moreover, vegetable consumption in China exceeded the figures recorded by the second-largest consumer, India (195M tons), fourfold. The third position in this ranking was held by the United States (52M tons), with a 3.4% share.
In China, vegetable consumption increased at an average annual rate of +1.4% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+2.3% per year) and the United States (-0.1% per year).
In value terms, China ($732.6B) led the market, alone. The second position in the ranking was taken by India ($94.9B). It was followed by the United States.
From 2013 to 2024, the average annual rate of growth in terms of value in China stood at +3.7%. In the other countries, the average annual rates were as follows: India (+1.6% per year) and the United States (+0.4% per year).
The countries with the highest levels of vegetable per capita consumption in 2024 were Ukraine (653 kg per person), China (486 kg per person) and Turkey (353 kg per person).
From 2013 to 2024, the biggest increases were recorded for India (with a CAGR of +1.3%), while consumption for the other global leaders experienced more modest paces of growth.
The use of the site materials is free if there is a direct and open for search engines hyperlink to a specific publication of the East-Fruit.com website.
