The demand for vegetables in Vietnam has shown consistent growth from 2014 to 2023, rising from 15.65 million metric tons to 18.59 million metric tons. The year-on-year variation has experienced some fluctuations, with notable increases of 5.41% in 2016 and 7.43% in 2018. The recent year-on-year growth rate is 0.93% for 2023. The compounded annual growth rate (CAGR) for the last 5 years is 0.58%.
Forecasts indicate continued growth, projecting a market size of 19.39 million metric tons by 2028, with a forecasted 5-year CAGR of 0.67%. This represents a total growth rate of 3.4% over this period.
Future trends to watch for:
- Technological advancements in agriculture that could drive efficiencies and increase output.
- Shifting consumer preferences for organic and locally-sourced vegetables.
- Government policies and initiatives that could influence production and demand positively.
- Potential impacts of climate change on agricultural yield.
