Venezuela Fruits and Vegetable Market : Growth, Trends, and Forecasts (2020 - 2025)

The report on the Venezuelan Fruits and Vegetable Market report presents a comprehensive analysis of the market size, driving factors, production, consumption, import, export, and forecast to 2025. The market has been segmented into fruits and vegetables.

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

CAGR:

3.5 %

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Market Overview

The Venezuelan fruits and vegetables market is estimated to register a CAGR of 3.5% during the forecast period of 2020-2025.

The total production of fruits increased by 4.3% from 3,139,004.0 metric ton in 2016 to 3,275,248.0 metric ton in 2018, while vegetable production increased marginally from 1,118,878.0 metric ton in 2016 to 1,188,655.0 metric ton in 2018.

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 is estimated to witness an increased production by almost 15% 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.

Scope of the report

The mounting economic crisis in Venezuela resulted in hyperinflation over the years, which reached 274% in 2016, 863% in 2017, 130,060% in 2018, and 9,586% in 2019. As a result, upscaling the domestic production of fruits and vegetables is expected to be of paramount importance in the coming years. For the purpose of the study, the market has been segmented into fruits and vegetables, entailing a detailed analysis and market size of production, consumption, import, export, and prices of the commodities in the country. The report also includes a regional analysis encompassing a detailed overview of the supply chain, PESTLE, and government policies associated with the fruits and vegetable industry in Venezuela. The review period considered for the study is 2016-2019 and the forecast period is 2020-2025.

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Key Market Trends

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 Venezuelans produced 273 metric ton of vegetables, fruit, and herbs in urban settings. However, the production fell short of the nationwide aim of producing 3,500 metric ton for the year. The National Plan 2018 also 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.

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Dearth of Agriculture Inputs Restraining 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 Aurelio Sanchez, the President of AVESEM, only 20,000.0 hectares of the total 80,000.0 hectares 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% of the total seed requirement in the country. As a result, the total area harvested also declined from 68,245.0 hectares in 2015 to 57,229.0 hectares in 2017. 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 astute shortage of seeds and other inputs in the horticulture industry resulted in declining levels of production and sky-rocketed prices of vegetables in the country.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

  5. 5. MARKET SEGMENTATION

    1. 5.1 Vegetables

      1. 5.1.1 Domestic Production Overview

      2. 5.1.2 Consumption Analysis and Market Value

      3. 5.1.3 Import Market Analysis (Volume and Value)

      4. 5.1.4 Export Market Analysis (Volume and Value)

      5. 5.1.5 Price Trend Analysis

    2. 5.2 Fruits

      1. 5.2.1 Domestic Production Overview

      2. 5.2.2 Consumption Analysis and Market Value

      3. 5.2.3 Import Market Analysis (Volume and Value)

      4. 5.2.4 Export Market Analysis (Volume and Value)

      5. 5.2.5 Price Trend Analysis

  6. 6. REGIONAL ANALYSIS

    1. 6.1 PESTLE Analysis

    2. 6.2 Supply Chain Analysis

    3. 6.3 Government Policies

  7. 7. COMPETITIVE ANALYSIS

    1. 7.1 Distribution Network and Retail Analysis

    2. 7.2 List/Profile of Key Players

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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