Market Size of Venezuela Fruits and Vegetables Industry
| 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 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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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 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 and Vegetables Market Size Summary
The Venezuela fruits and vegetables market is poised for growth over the forecast period, driven by various initiatives and recovery efforts following the challenges posed by the COVID-19 pandemic. The pandemic exacerbated existing issues such as fuel shortages and labor crises, which disrupted supply chains and hindered production and delivery. Despite these challenges, the market is expected to expand, supported by government initiatives like the "Great Agro-Venezuela Mission" and the National Urban Agriculture Plan. These programs aim to enhance food production in urban areas, addressing food shortages and inflation by utilizing urban spaces for agriculture. The increased focus on urban farming, including programs like Green Rooves and Productive Gardens, is anticipated to boost fruit and vegetable production, fostering greater participation and awareness among the populace.
However, the Venezuelan agriculture sector faces significant hurdles, including a severe shortage of agricultural inputs such as seeds, which has impacted domestic crop production. The Venezuelan Seed Association has highlighted a growing seed deficit, limiting the area available for cultivation and contributing to declining production levels. This shortage has led to higher prices for vegetables, with costs rising to levels comparable to the minimum wage. Despite these challenges, the market is expected to grow, with an emphasis on increasing production of key crops like potatoes, broccoli, and carrots. The government's efforts to recover and expand agricultural production are crucial in overcoming the current limitations and meeting the domestic demand for fruits and vegetables.
Venezuela Fruits and Vegetables Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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2. 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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2.1 Vegetables
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2.2 Fruits
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Venezuela Fruits and Vegetables Market Size 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.
