The vegetables market in Thailand has shown a steady increase in volume from 2.53 million metric tons in 2014 to 2.96 million metric tons in 2023. The year-on-year growth rates indicate some volatility, with the highest recorded growth of 7.09% in 2018, followed by a slight decline of -1.11% in 2019. Recent years reflect a stabilizing trend with modest increases, such as 0.85% in 2023. Over the last five years, the compound annual growth rate (CAGR) was 0.49%. Forecasts project a continuous but gradually slowing growth in volume, with a 5-year CAGR of 0.62%, expected to reach 3.07 million metric tons by 2028.
Future trends to watch for include the impact of climate change on agricultural yields, advancements in farming technology, and shifts in consumer preferences towards organic and locally sourced vegetables. Additionally, government policies and international trade agreements could significantly affect market dynamics.
