New York, June 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Vegetable Farming Global Market Report 2023" - https://www.reportlinker.com/p06464015/?utm_source=GNW
Bolthouse Farms Inc., Modern AG Products LLC, J. G. Boswell Company, Tanimura & Antle Fresh Foods Inc., D’Arrigo Bros. Co., and R.D. Offutt Company.
The global vegetable farming market is expected to grow from $1,568.89 billion in 2022 to $1,687.73 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The vegetable farming market is expected to reach $2,240.89 billion in 2027 at a CAGR of 7.3%.
The vegetable farming market includes revenues earned by entities by selling fresh and processed vegetable products.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Vegetable farming refers to the cultivation and production of vegetables for consumption as food, either for local markets or for wider distribution.
Asia-Pacific was the largest region in the vegetable farming market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of vegetable farming are growing vegetable crops and producing vegetable seeds.Growing vegetable crops refers to Plants that are grown for human consumption.
The various applications involved are household and commercial.
The increasing popularity of veganism is expected to propel the growth of the vegetable farming market going forward.Veganism is a lifestyle and dietary choice that involves avoiding the use of animal products for food or any other purpose, often motivated by ethical, environmental, and health reasons.
Vegans typically avoid using animal-based fertilizers and pesticides, which can contain harmful chemicals and contribute to soil and water pollution.Instead, they opt for organic and plant-based alternatives that are more sustainable and environmentally friendly which rise the demand for fresh vegetable products.
For Instance, according to Redefine meat Ltd., an Israel-based packaged food products company, In September 2021, an estimated 79 million vegans were global, which is over one percent of the whole population. Also, by 2040, it’s projected that only 40& of the world’s population will eat meat. The value of the vegan food market is expected to rise to a staggering $31.4 billion by 2026. Therefore, the increasing veganism is driving the demand for the vegetable farming market.
Technological advancements is a key trend gaining the popularity in the vegetable farming market.Major market players are concentrating their efforts on creating innovative technologies for vegetable farming in order to eradicate manpower shortage and for time saving.
For example, In Oct 2021, Rijk Zwaan, a Netherlands based vegetable breeding company, has launched Artificial intelligence in order to accelerate the breeding process to provide growers faster access to new vegetable varieties. With this launch company has annual turnover of €498 million in its 2020/2021 financial year, equating to 4% growth compared with the previous year.
In Jan 2023, BASF SE, a Germany-based vegetable seeds company acquired ASL.With this acquisition, BASF will continue to be able to develop new innovative concepts of healthy and tasty melons, which can contribute to consumers’ loyalty to partners in the value chain.
ASL is a French-based innovative melon breeding company.
The countries covered in the Vegetable Farming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from re-sales along the supply chain, either further along the supply chain or as part of other products.
The vegetable farming market research report is one of a series of new reports that provides vegetable farming market statistics, including the vegetable farming industry global market size, regional shares, competitors with vegetable farming market share, detailed vegetable farming market segments, market trends, and opportunities, and any further data you may need to thrive in the vegetable farming industry. This vegetable farming market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06464015/?utm_source=GNW
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