Vegetables - Armenia

Armenia

Revenue in the Vegetables market amounts to €797.40m in 2024. The market is expected to grow annually by 8.97% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€146bn in 2024).
In relation to total population figures, per person revenues of €287.10 are generated in 2024.
In the Vegetables market, volume is expected to amount to 651.40m kg by 2029. The Vegetables market is expected to show a volume growth of 7.0% in 2025.
The average volume per person in the Vegetables market is expected to amount to 183.3kg in 2024.

Key regions: Japan, United Kingdom, Philippines, India, Canada

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Analyst Opinion

The Vegetables Market in Armenia is experiencing subdued growth, influenced by factors like fluctuating agricultural productivity, changing consumer preferences for healthier options, and the rising demand for both fresh and processed vegetable products in urban areas.

Customer preferences: Consumers in Armenia's vegetable market are increasingly prioritizing organic and locally sourced produce, reflecting a cultural shift towards sustainability and health consciousness. This trend is further fueled by a younger demographic that values transparency in food sourcing and the nutritional benefits of fresh vegetables. Additionally, urbanization is driving demand for convenient, ready-to-eat vegetable options, as busy lifestyles prompt a preference for quick, healthy meal solutions. These evolving consumer preferences highlight a growing awareness of the importance of nutrition and environmental impact in food choices.

Trends in the market: In Armenia, the vegetable market is experiencing a significant shift towards organic produce, as consumers increasingly seek out locally sourced options that align with their health and environmental values. This trend is particularly pronounced among younger demographics, who prioritize transparency in the supply chain and the nutritional advantages of fresh vegetables. Concurrently, urbanization is driving a demand for convenience, with ready-to-eat vegetable products gaining popularity among busy consumers. These trends not only emphasize the importance of nutrition and sustainability but also present opportunities for industry stakeholders to innovate and cater to evolving consumer preferences.

Local special circumstances: In Armenia, the vegetables market is shaped by the country’s rich agricultural heritage and diverse climate, which allows for a variety of crops to thrive. Traditional farming practices, coupled with a strong emphasis on organic cultivation, resonate with consumers’ growing concerns for health and sustainability. Additionally, the government’s support for local agriculture through subsidies and initiatives fosters a favorable environment for small-scale farmers. Cultural preferences for fresh, seasonal produce further influence purchasing behaviors, driving demand for farmer's markets and community-supported agriculture programs.

Underlying macroeconomic factors: The vegetables market in Armenia is significantly influenced by macroeconomic factors such as national economic health, agricultural policies, and global market trends. The country's commitment to sustainable agriculture and organic farming practices aligns with a growing global demand for healthy, locally-sourced food. Economic stability, reflected in GDP growth and inflation rates, directly impacts consumer purchasing power and investment in agricultural infrastructure. Additionally, government subsidies and support for local farmers enhance productivity and market accessibility. Fluctuations in global commodity prices and trade agreements further shape the competitive landscape, affecting the pricing and availability of vegetables in the domestic market.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.