The vegetables market in India stood at 120.58 million metric tons in 2023, showing a slight increase of 0.3% year-on-year. Over the past 5 years, the market has grown at an average CAGR of 0.22%. Historical data indicates varied growth rates, with notable fluctuations such as a decline of 4.52% in 2015 and a peak growth of 4.64% in 2017.
From 2024 onwards, forecasted data indicates a steady increase in market size, reaching 122.25 million metric tons by 2028. The forecasted 5-year CAGR is projected at 0.22%, translating to a cumulative growth rate of 1.09% over the period.
Future trends to watch for:
- Impact of technological advancements in agriculture.
- Government policies enhancing or hindering agricultural productivity.
- Shifts in consumer preferences towards organic and sustainable produce.
- Climate change and its impact on cultivation patterns.
- Trade policies affecting import and export dynamics.
