Market Overview:
The global fresh vegetables market size was valued at USD 714.25 billion in 2023. The market is projected to grow from USD 731.18 billion in 2024 to USD 921.09 billion by 2032, exhibiting a CAGR of 2.93% during the forecast period. Asia Pacific dominated the fresh vegetables market with a market share of 63.9% in 2023.
Fresh vegetables are perishable, which has increased the demand for an efficient supply chain management to ensure that the highest quality of produce reaches the customers and there is no waste. The demand for these vegetables might fluctuate based on various factors, such as customers’ preferences, economic conditions, and urbanization in various countries. Customers’ increasing inclination toward healthier foods will bolster the demand for fresh vegetables.
LIST OF KEY COMPANIES PROFILED IN THE REPORT
Dole Plc. (Ireland)
Fresh Del Monte Produce Inc. (U.S.)
H. Robinson Worldwide, Inc. (U.S.)
Binder International GmbH & Co. KG (Germany)
Keelings (Ireland)
Wang Zeng International Limited (U.K.)
Mirak Group (UAE)
Favco (Australia)
Vegpro International Inc. (Canada)
Mazzoni S.p.A. (Italy)
Segmentation:
Increasing Preference for Vegan Diet to Help Others Segment Dominate Market
Based on type, the market has been divided into onions, potatoes, tomatoes, cucumber, cabbage, eggplant, and others. The others segment includes carrots, broccoli, mushrooms, corn, garlic, asparagus, and green beans. The others segment is predicted to dominate the market due to the increasing preference for vegan diet among individuals to lead a healthier life.
Household Segment to Dominate Market Owing to Rising Global Population
Based on end use, the market has been segregated into household and commercial. The household segment is anticipated to dominate the global fresh vegetables market share due to the growing global population. This factor will increase the demand for healthy foods, which will positively impact the sales of fresh vegetables.
Availability of Wide Array of Products to Boost Customer Footfall in Offline Stores
Based on distribution channel, the market is segmented into online and offline. The offline segment might hold the biggest market share during the forecast period as offline stores offer a wide range of fresh vegetables that customers can choose from. Moreover, they can personally inspect the quality of the products before purchasing them, further strengthening the segment’s growth.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Source: https://www.fortunebusinessinsights.com/fresh-vegetables-market-110977
Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as popular types, distribution channels, end uses, and prominent market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.
Drivers and Restraints:
Increasing Demand for Organic & Healthy Foods to Augment Market Growth
A growing number of individuals are becoming conscious about their health and wellbeing, which has resulted in an increased demand for organic and healthy foods, such as fresh vegetables. People are becoming aware of the role a healthy and well-balanced diet plays in improving them from a wide range of chronic diseases, such as heart ailments, diabetes, and cancer. This factor is expected to increase the consumption of fresh vegetables.
However, several farmers can find it difficult to obtain the organic grower certification from relevant authorities, which can adversely impact the fresh vegetables market growth.
Regional Insights:
Asia Pacific Dominated Global Market Owing to Large-Scale Production of Fresh Vegetables
Asia Pacific held the largest global market share in 2023 as the region is known for its large-scale production of fresh vegetables. Countries, such as India and China are the world’s leading producers and exporters of vegetables. As per the Ministry of China, the country produced an astounding 680 million metric tons of vegetables in 2022. These factors are expected to help the region dominate the global market.
North America is also anticipated to show healthy growth due to the increasing adoption of vegan diet in countries, such as the U.S. and Canada.
Competitive Landscape:
Leading Market Players to Focus On Partnerships and Acquisitions to Remain Competitive
Some of the top companies operating in the market are announcing partnerships, acquisitions, and mergers & acquisitions to expand the capacity of producing fresh vegetables. They are also using these strategies to launch new and exotic varieties of vegetables. These business decisions will help them expand their current customer base.
Notable Industry Development:
April 2024 – Gopuff, an American retail company, announced its partnership with Misfits Market, an online grocery delivery platform. Through this collaboration, the companies plan to introduce over 300 fresh grocery items across the U.S., including fruits, vegetables, dairy, and poultry to the customer’s doorstep in 15 minutes.