Vegetable Farming Global Market Report 2024

The vegetable farming market size has grown strongly in recent years. It will grow from $1649.1 billion in 2023 to $1755.75 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth observed in the historic period can be attributed to factors such as population growth, evolving health and wellness trends, urbanization, shifts in dietary patterns, and the influence of government policies.

The vegetable farming market size is expected to see strong growth in the next few years. It will grow to $2169.93 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The anticipated growth in the forecast period is expected to be driven by factors such as the impact of climate change, evolving dynamics in global trade, shifting consumer preferences, emphasis on supply chain resilience, and concerns regarding water scarcity. Major trends expected during this period include the integration of technology, advancements in agricultural technology, the adoption of sustainable practices, the growth of indoor farming methods, and consumer preferences favoring exotic varieties of produce.

The surge in veganism is anticipated to drive the growth of the vegetable farming market. With ethical, environmental, and health motivations, veganism refrains from animal product use, including animal-based fertilizers and pesticides. This shift toward sustainable, plant-based alternatives by vegans augments the demand for fresh vegetable products. Redefine Meat Ltd. reported an estimated 79 million global vegans in September 2021, accounting for over one percent of the total population. Projections indicate that by 2040, only 40% of the world's population will consume meat, while the value of the vegan food market is expected to reach an impressive $31.4 billion by 2026. This burgeoning vegan trend fuels the vegetable farming market's demand.

Population growth is expected to drive the vegetable farming market. As the global population steadily climbs, vegetable farming stands as a sustainable solution to meet the nutritional needs of an expanding populace. The United Nations Conference on Trade and Development highlighted the world population reaching 8 billion in November 2022, projected to hit 10 billion by 2050. This escalating population drives the growth of the vegetable farming market.

Technological advancements are driving innovation in the vegetable farming market, aiming to address manpower shortages and streamline farming processes. Notably, Rijk Zwaan, a Netherlands-based vegetable breeding company, introduced Artificial intelligence in October 2021 to expedite the breeding process. This technological leap accelerates growers' access to new vegetable varieties, marking a significant milestone in enhancing agricultural productivity. The introduction of AI demonstrates a commitment to innovation, offering solutions to address time constraints and optimize vegetable farming practices.

Major companies are focusing on technology-driven solutions, specifically insect control technology, to ensure sustainable crop protection and gain competitive advantages. Syngenta India, an ag-tech subsidiary in India, launched Incipio and Simodis in July 2023, employing PLINAZOLIN technology to combat pests in paddy, cotton, and vegetables. These solutions offer durable control against pests, addressing challenges arising from climate shifts and pest resistance. Incipio targets stem borers and leaf folders in paddy, while Simodis effectively manages sucking and lepidoptera insects in paddy, cotton, and vegetables, reducing the need for multiple applications.

In January 2023, BASF SE, a German vegetable seeds company, finalized the acquisition of ASL. This strategic move empowers BASF to continue innovating in the development of healthy and flavorful melon varieties. These innovations contribute significantly to fostering consumer loyalty within the value chain partnerships. ASL, a French-based melon breeding company, stands as a key addition to BASF's efforts to deliver innovative concepts and high-quality produce to consumers worldwide.

Major companies operating in the vegetable farming market report are General Mills Inc., Dole Food Company Inc., Fresh Del Monte Produce, Chiquita Brands International Inc., Giorgio Foods Inc., Wm. Bolthouse Farms Inc., J. G. Boswell Company, Grimmway Farms, Mastronardi Produce, Plenty Unlimited Inc., Golden County Foods Inc., Lake Side Organic Gardens, Tanimura & Antle Fresh Foods Inc., R.D. Offutt Company, Bright Farms Inc., Gills Onions, Freight Farms, Devine Organics, Carlton Farms, Graves Bros Co., Graceland Fruit Inc., Modern AG Products LLC, D'Arrigo Bros. Co., Garden Fresh Farms, Abers Acres, The Beckman & Gast Co., Global Tropical Fresh Fruit, Green Sense Farms Holdings Inc., AutoGrow Systems Ltd., FreshBox Farms.

Asia-Pacific was the largest region in the vegetable farming market in 2023. The regions covered in the vegetable farming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the vegetable farming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Vegetable farming primarily involves two aspects such as cultivating vegetable crops for human consumption and producing vegetable seeds. Growing vegetable crops entails cultivating plants intended for human consumption, serving both household and commercial purposes.

The vegetable farming market research report is one of a series of new reports that provides vegetable farming market statistics, including the vegetable farming industry global market size, regional shares, competitors with vegetable farming market share, detailed vegetable farming market segments, market trends, and opportunities, and any further data you may need to thrive in the vegetable farming industry. This vegetable farming market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The vegetable farming market includes revenues earned by entities by selling fresh and processed vegetable products. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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