Forecast: Turnover of Wholesale of Vegetables Markets in China

From 2013 to 2023, the wholesale vegetable market in China has experienced fluctuations in turnover. The most notable decreases were observed in 2018, 2019, and 2020, with year-on-year variations of -7.04%, -2.68%, and -7.62%, respectively. The market began to recover slightly from 2021, showing a 9.6% increase, stabilizing in 2022 with a 0.81% rise, and continued this upward trend by 1.52% in 2023. As of 2023, the turnover stood at 3.88 hundred billion Yuan Renminbi. The average annual growth rate (CAGR) over the past five years indicates a minimal growth at 0.17%.

Forecasts for the future period until 2028 suggest a moderate recovery with the turnover expected to rise to 4.16, thanks to an anticipated 5.71% growth rate in the forecasted period, translating to an annual average growth rate (CAGR) of 1.12%.

Future trends to watch for include shifts in consumer preferences towards organic produce, technological advancements in supply chain management, and potential impacts of climate change on vegetable production. Additionally, policy changes and international trade dynamics could significantly influence market conditions.

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