INDUSTRIES

&

MARKETSVegetables-market

data&

analysisMarket

InsightsreportOctober2023Table

of

ContentsOverviewAppendixSummary567Product

OverviewAuthor2728MarketDefinitionKeyTakeawaysMarket

NumbersRevenue9121518212425AverageRevenue

per

CapitaVolumeAverageVolumeper

CapitaPriceper

UnitMobile/DesktopSplitOnlineRevenueShare2MARKET

INSIGHTSThis

report

is

part

ofour

Market

Insights

productGainabetterunderstandingofmarketsacross190+

geographicalentities

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onaglobal,

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management10sectors190+geographicalentities1,000+markets400+reportsFind

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Market

Insightscom/outlook/3CHAPTER

1OverviewVegetablemarket’s

growth

is

fueled

by

veganism,

health

trends,

and

onlineservices,

but

faces

climate

change

challengesOverview:

SummarySummaryVegetable

sales

have

steadily

increased

over

time

and

even

withstood

thepressure

of

the

COVID-19

pandemic.

Due

to

their

longer

shelf

lives,

frozenvegetables

in

particular,

were

among

the

most

popular

foods

among

consumersduring

the

pandemic.

A

poll

by

the

American

Frozen

Food

Institute

found

that

ofmore

than

1,200

adults

in

the

U.S.,

34%

of

consumers

had

bought

more

frozenvegetables

in

2020

than

they

did

in

pre-pandemic

times.

The

growing

veganpopulation,

increasing

concerns

about

the

environmental

impact

of

animalagriculture,

and

health/wellness

trends

paired

with

the

growing

popularity

ofvegetables

as

a

source

of

protein

are

expected

to

drive

the

growth

of

thissegment.particularly

among

younger

families

and

health-conscious

individuals.

Thegrowingnumber

of

online

grocerydeliverystart-upscarryingoutlast-mile

deliveryservices

hasalso

fueledthe

development

oftheVegetables

segment.One

of

the

major

challenges

faced

by

the

industry

is

climate

change,

which

couldhave

an

adverse

impact

on

production

in

the

long

term.

In

the

U.S.,

for

example,the

area

used

for

vegetable

production

has

been

decreasing

since

2000.

In

2021,some

2.3

million

acres

were

used

for

growing

vegetables,

compared

to

the

use

of3.5

million

acres

only

two

decades

earlier.

To

counter

this,

the

industry

is

comingout

with

innovative

trends

in

production

and

manufacturing

processes,

e.g.,vertical

farming.Another

contributing

factor

in

this

segment’s

growth

has

been

the

increasingpopularity

of

organic

vegetables.

Organic

food

was

previously

primarilypurchased

by

a

small

portion

of

the

population,

predominantly

by

those

whowere

willing

to

pay

a

premium

for

organic

products.

However,

there

has

been

asurge

in

interest

among

a

broader

range

of

consumers

in

recent

years,5Sources:Market

Insights

2023The

Vegetables

market

comprises

fresh,

processed,

and

frozen

edible

plants,divided

into

subsegments,

catering

to

diverse

consumption

needsOverview:

Market

DefinitionMarket

definitionThe

Vegetables

segment

covers

fresh,

frozen,

and

processed

edible

plants

thatarebought

andconsumed

fornutrient-based

purposes.AdditionalInformation:The

market

comprises

revenue

and

average

revenue

per

capita,

volume

andaverage

volume

per

capita,

price

per

unit

(unit

refers

to

kilogram),

sales

channels.The

market

encompasses

retail

sales

through

both

online

and

offline

saleschannels

to

private

end

customers

(B2C).

The

market

only

covers

at-homeconsumption;

out-of-home

consumption

isnotincluded.Structure:Thesegment

consistsof

2different

subsegments:The

Fresh

Vegetables

segment

covers

all

types

of

vegetables

that

haven't

beencanned,

frozen,

dehydrated,

pickled,

or

preserved

in

any

way.

This

segment

isdivided

into

seven

subsegments:

tomatoes,

potatoes,

leafy

vegetables,

cabbagevegetables,

onions,

root

vegetables

&

mushrooms,

and

other

freshvegetables

such

as

pumpkins,

eggplants,

zucchinis,

cucumbers,

paprikas,

bambooshoots,

legumes,

andother

vegetables.The

Processed

and

Frozen

Vegetables

segment

covers

all

types

of

vegetables

thathavebeen

canned,frozen,

dehydrated,fermented,

andpickled.6Sources:Market

Insights

2023Vegetables

accounted

for10.65%

of

the

Food

market

revenue

in

2022Overview:

Key

Takeaways

and

inscope

/outof

scopeKeyTakeawaysInscopeOutof

scopeRevenue

intheVegetables

market

amountsto

US$1.0tn

in2023.

Themarket

isexpected

togrow

annuallyby7.11%

(CAGR2023-2028).Thissegment

includes:Thissegment

excludes:Inglobalcomparison,

most

revenue

isgenerated

inChina

(US$147bn

in2023).?Fresh

vegetables?Vegetable-based

ready-to-eat

mealsInrelation

to

totalpopulation

figures,per

person

revenues

of

US$130.00

aregenerated

in

2023.?Frozen

vegetables?Processed

vegetablesIntheVegetables

market,

volume

isexpected

to

amount

to

649.2bn

kgby2028.TheVegetables

market

isexpected

to

show

avolume

growth

of4.9%

in2024.Theaverage

volume

perperson

intheVegetables

market

isexpected

toamount

to69.8kg

in2023.7Sources:Market

Insights

2023CHAPTER

2Market

NumbersVegetables

revenues

are

estimated

to

increase

at

a

CAGR(1)

of

6.5%

from

2018to

2028Market

Size:

GlobalRevenue

inbillionUS$1,405.71,326.01,247.7+6.5%(1)1,159.7284.6341.3322.11,078.9265.7304.4998.8247.0930.3230.2861.2213.7798.2199.0767.3189.3747.7184.11,064.420281,003.92027943.42026875.22025813.22024751.82023700.1647.52021563.72018578.02019599.220202022Fresh

VegetablesProcessed

&Frozen

Vegetables9Notes:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023Sources:With

revenue

of

US$

456.2

billion,

Asia

is

the

biggest

market

among

selectedregions

in

2022Market

Size:

Regional

Comparison

(1/2)Revenue

inbillionUS$+7.1%(1)688.4456.2+6.4%(1)305.0+5.7%(1)242.7+11.9%(1)155.6210.7173.7+4.9%(1)79.310.414.020222028202220282022

2028Americas2022202820222028EuropeAfricaAsiaAustralia&Oceania10

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023With

revenue

of

US$

136.9

billion,

China

is

the

biggest

market

among

selectedcountries

in

2022Market

Size:

Regional

Comparison

(2/2)Revenue

inbillionUS$+7.4%(1)209.8+4.7%(1)136.92022113.186.0+4.0%(1)+5.6%(1)+3.1%(1)36.528.926.823.119.419.2202820222028202220282022202820222028ChinaUnited

StatesUnited

KingdomGermanyFrance11

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023Vegetables

average

revenue

per

capita

is

estimated

to

increase

at

a

CAGR(1)

of5.6%

from2018

to

2028Market

Size:

GlobalAveragerevenue

percapita

inUS$175.4166.840.5158.338.6+5.6%(1)130.032.2148.436.442.6139.234.3122.230.2114.228.3106.926.7103.825.6102.225.2132.82028126.32027119.72026112.02025104.9202497.992.085.978.280.277.0201820192020202120222023Fresh

VegetablesProcessed

&Frozen

Vegetables12

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023With

average

revenue

per

capita

of

US$

253.5,

Australia

&

Oceania

is

the

biggestmarket

among

selected

regions

in

2022Market

Size:

Regional

Comparison

(1/2)Averagerevenue

percapita

inUS$+6.4%(1)359.7+3.8%(1)316.5+5.0%(1)232.1253.5248.1+6.4%(1)147.4+9.4%(1)110.7172.8101.664.620222028202220282022

2028Americas202220282022Australia&Oceania2028EuropeAfricaAsia13

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023With

average

revenue

per

capita

of

US$

344.4,

Germany

is

the

biggest

marketamong

selected

countries

in

2022Market

Size:

Regional

Comparison

(2/2)Averagerevenue

percapita

inUS$+4.1%(1)438.3+5.2%(1)382.8+2.9%(1)347.6+4.1%(1)326.8344.4292.4282.8256.9+7.2%(1)142.794.02022202820222028202220282022202820222028ChinaUnitedStatesUnitedKingdomGermanyFrance14

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023Vegetables

volume

are

estimated

to

increase

at

a

CAGR(1)

of

2.9%

from2018

to2028Market

Size:

GlobalVolume

inbillionkilograms649.2629.6110.7+2.9%(1)612.1107.9586.6103.9562.2100.0113.9535.995.8517.892.6504.890.5496.788.9491.487.3486.487.8535.42028518.92027504.22026482.72025462.32024440.12023425.2398.72018404.12019407.82020414.320212022Fresh

VegetablesProcessed

&Frozen

Vegetables15

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023With

volume

of

285.6

billion

kilograms,

Asia

is

the

biggest

market

amongselected

regions

in

2022Market

Size:

Regional

Comparison

(1/2)Volume

inbillionkilograms+4.3%(1)368.5285.6+2.7%(1)+3.2%(1)121.7+4.4%(1)103.899.982.4+2.4%(1)55.442.73.33.82022202820222028202220282022202820222028EuropeAfricaAmericasAsiaAustralia&Oceania16

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023With

volume

of

66.4

billion

kilograms,

China

is

the

biggest

market

amongselected

countries

in

2022Market

Size:

Regional

Comparison

(2/2)Volume

inbillionkilograms+4.8%(1)88.166.4+2.9%(1)29.9+1.9%(1)25.2+2.1%(1)+1.3%(1)13.111.78.07.27.16.72022202820222028202220282022202820222028ChinaUnited

StatesUnited

KingdomGermanyFrance17

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023Vegetables

volume

per

capita

are

estimated

to

increase

from

2018

to

2028Market

Size:

GlobalAveragevolume

per

capita

inkilograms66.870605040302010065.364.061.859.757.355.954.554.754.654.914.213.713.912.913.312.011.811.912.012.212.520182019202020212022202320242025202620272028Processed

&Frozen

VegetablesFresh

Vegetables18Sources:Market

Insights

2023Europe

has

the

biggest

market

in

Vegetables

volume

per

capita

in

2028Market

Size:

Regional

Comparison

(1/2)Averagevolume

per

capita

inkilograms143.595.515010050140.193.6137.392.0132.889.3128.786.5124.483.0123.283.6122.681.6122.481.1122.581.0122.282.086.785.485.983.781.581.381.082.578.979.879.980.376.774.871.969.166.063.634.861.834.660.334.960.834.959.435.738.638.939.437.336.335.3020182019202020212022202320242025202620272028AfricaAmericasAsiaAustralia&OceaniaEurope19Sources:Market

Insights

2023With

volume

per

capita

of

139.4,

Germanyis

the

biggest

market

among

selectedcountries

in

2022Market

Size:

Regional

Comparison

(2/2)Averagevolume

per

capita

inkilograms156.9153.7112.616014012010080150.8110.9148.2108.7145.1106.6142.0104.8139.4103.3136.1104.4137.0103.3134.6109.6134.5105.0114.4108.6107.3105.1106.2103.978.0102.4101.1101.3101.473.144.7101.975.1102.675.986.484.382.280.175.874.373.959.957.655.552.86050.247.545.644.245.141.14020020182019202020212022202320242025202620272028ChinaFranceGermanyUnitedKingdomUnitedStates20Sources:Market

Insights

2023Vegetables

price

per

kilogram

are

estimated

to

increase

from2018

to

2028Market

Size:

GlobalPrice

perkilogram

inUS$3.02.02.93.02.52.01.51.00.50.02.81.92.71.82.71.82.61.72.51.72.41.62.21.52.21.42.11.41.920182019202020212022202320242025202620272028Fresh

VegetablesProcessed

&Frozen

Vegetables21Sources:Market

Insights

2023Australia

&

Oceania

has

the

highest

Vegetables

price

per

kilogram

in

2028Market

Size:

Regional

Comparison

(1/2)Price

perkilogram

inUS$4.03.73.63.52.53.43.33.53.02.52.01.51.00.50.03.33.22.11.91.63.02.02.82.42.71.92.72.42.71.92.62.32.42.41.82.32.22.22.22.12.02.01.61.91.71.41.91.91.81.71.41.71.71.71.71.61.61.520182019202020212022202320242025202620272028AfricaAmericasAsiaAustralia&OceaniaEurope22Sources:Market

Insights

2023With

price

per

kilogram

of

US$

3.4,

the

United

States

has

the

highest

Vegetablesprice

among

selected

countries

in

2022Market

Size:

Regional

Comparison

(2/2)Price

perkilogram

inUS$3.83.73.73.23.13.63.63.52.92.93.42.93.23.13.43.14.03.53.02.52.01.51.00.50.03.22.83.12.53.03.02.92.53.02.42.73.23.02.62.32.22.82.22.72.72.62.62.52.52.42.42.12.32.32.22.12.12.22.12.12.01.71.61.62018201920202021China2022202320242025UnitedStates202620272028FranceGermanyUnitedKingdom23Sources:Market

Insights

2023Inthe

Vegetables

market,

mobile

online

revenue

reached

34.0%

in

2022FurtherMarket

AnalysisMobile/desktop

split100.0%100.0%100.0%33.0%100.0%31.0%100.0%34.0%100.0%38.0%100.0%42.0%100.0%46.0%100.0%48.0%100.0%50.0%32.0%32.0%68.0%201868.0%201967.0%202069.0%202166.0%202262.0%58.0%202454.0%202552.0%202650.0%20272023DesktopMobile24Sources:Market

Insights

2023Inthe

Vegetables

market,

Online

Revenue

‘s