Venezuela Fruits & Vegetables Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 23.58 Billion |
| Market Size (2029) | USD 28.68 Billion |
| CAGR (2024 - 2029) | 4.00 % |
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Venezuela Fruits & Vegetables Market Analysis
The Venezuela Fruits and Vegetables Market size is estimated at USD 23.58 billion in 2024, and is expected to reach USD 28.68 billion by 2029, growing at a CAGR of 4% during the forecast period (2024-2029).
As an impact of COVID-19, Venezuela suffered from few challenges. Venezuela being one of the largest oil-producing nations, suffered from fuel shortages that hindered market movement and caused complications for the production and delivery of fresh produces to the market. The nation also suffered from labour crisis in the fruits and vegetables processing units and cultivation sector. The supply chain got disrupted due to nation-wide lockdown and restrictions.
The total production of fruits increased from 3,139,004.0 metric ton in 2016 to 3,565,565.0 metric ton in 2019, while vegetable production increased marginally from 1,118,878.0 metric ton in 2016 to 1,135,606.0 metric ton in 2019.
Agriculture contributed an estimated share of 4.7% to the GDP of Venezuela in 2017. After a drastic fall in the production of vegetables in the year 2019, the country witnessed an increased production by almost 15.0% in 2020, as stated by the Confederation of Associations of Agricultural Producers of Venezuela (FEDEAGRO). The surge in production is expected to be supported by an increase in the amount of potato, broccoli, carrot, and branch production.
Venezuela Fruits & Vegetables Market Trends
This section covers the major market trends shaping the Venezuela Fruits & Vegetables Market according to our research experts:
Government Initiative Driving Urban Farming Practices
The government's "Great Agro- Venezuela Mission" was initiated in 2016, in a bid to recover urban spaces for food production, including fruits and vegetables, in response to the acute food shortage on retail shelves and spiraling inflation in the economy. The National Urban Agriculture Plan 2018 aids the urban farming initiative by aiming to cover 96,000.0 hectares across the national territory and produce more than 2,071,000.0 metric tons of food. The initiative has been able to gain momentum with multiple households currently functioning small production units on rooftops and even in the public green areas such as schoolyards and public institutions. According to government statistics, in the first half of 2016, 135,000 Venezuelan farmers produced 273.0 metric ton of vegetables, fruit, and herbs in urban settings. The National Plan 2018 imposed a greater emphasis on Venezuela's ground-breaking urban production mission through the Green Rooves and Productive Garden programs. As a result, a greater rate of participation, as well as awareness among the individuals as a result of the initiative, is further anticipated to drive the production of fruits and vegetables in the country during the forecast period.
Shortage of Agricultural Input is Influencing the Market
According to the Venezuelan Seed Association (AVESEM), the country currently faces an acute shortage of agricultural inputs, in order to meet the demand for domestic crop production, including fruits and vegetables. As stated by the President of AVESEM, only 20,000.0 hectares of the total 80,000.0 hectares of land is suitable for cultivation were planted with vegetable seeds in 2019. In addition, the seed deficit has been mounting since 2016 and the country does not possess even 3.0% of the total seed requirement in the country. As a result, the total area harvested also declined from 67,489.0 hectares in 2016 to 58,775.0 hectares in 2019. It has been reported that a kilogram of tomato nearly cost USD 0.43 (32,000 Venezuelan Bolivars) in 2019, which is equal to the minimum wage figure in the country. Therefore, an acute shortage of seeds and other inputs in the horticulture industry resulted in declining levels of production and higher prices of vegetables in the country.
Venezuela Fruits & Vegetables Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions and Market Definition
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.3 Market Restraints
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5. MARKET SEGMENTATION (Production Analysis, Consumption Analysis by Value & Volume, Import Analysis by Value & Volume, Export Analysis by Value & Volume and Price Trend Analysis)
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5.1 Vegetables
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5.2 Fruits
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6. REGIONAL ANALYSIS
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6.1 PESTLE Analysis
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6.2 Supply Chain Analysis
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6.3 Government Policies
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7. COMPETITIVE ANALYSIS
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7.1 Distribution Network and Retail Analysis
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7.2 List/Profile of Key Players
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8. MARKET OPPORTUNITIES AND FUTURE TRENDS
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9. AN ASSESSMENT OF COVID-19 IMPACT ON THE MARKET
Venezuela Fruits & Vegetables Industry Segmentation
Venezuelan Fruits and Vegetables Market report includes Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis. The market has been segmented into fruits and vegetables.
Venezuela Fruits & Vegetables Market Research FAQs
How big is the Venezuela Fruits and Vegetables Market?
The Venezuela Fruits and Vegetables Market size is expected to reach USD 23.58 billion in 2024 and grow at a CAGR of 4% to reach USD 28.68 billion by 2029.
What is the current Venezuela Fruits and Vegetables Market size?
In 2024, the Venezuela Fruits and Vegetables Market size is expected to reach USD 23.58 billion.
What years does this Venezuela Fruits and Vegetables Market cover, and what was the market size in 2023?
In 2023, the Venezuela Fruits and Vegetables Market size was estimated at USD 22.67 billion. The report covers the Venezuela Fruits and Vegetables Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Venezuela Fruits and Vegetables Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Venezuela Fruits and Vegetables Industry Report
Statistics for the 2024 Venezuela Fruits and Vegetables market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Venezuela Fruits and Vegetables analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
