The onions market size in India showed a mixed trend from 2014 to 2023. In 2023, the volume stood at 19.6 million metric tons, representing a modest 0.87% year-on-year increase. This follows a 0.90% rise in 2022 and a 0.93% rise in 2021, demonstrating consistent, albeit slow, growth in recent years. The overall CAGR from the last five years stands at 0.94%, indicating steady, minor annual growth.
Moving forward, projections indicate the market will grow at a forecasted 5-year CAGR of 0.63%, leading to an estimated volume of 20.4 million metric tons by 2028. This implies a forecasted growth rate of 3.2% over the five-year period.
Future trends to watch for include potential impacts of climate change on crop yields, the influence of government agricultural policies, and shifts in domestic and export demand. Innovations in farming practices and supply chain improvements could also play crucial roles in shaping the market.
