Colombia Fruits and Vegetables Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 6.41 Billion |
| Market Size (2029) | USD 8.14 Billion |
| CAGR (2024 - 2029) | 4.90 % |
Colombia Fruits and Vegetables Market Analysis
The Colombia Fruits And Vegetables Market size is estimated at USD 6.41 billion in 2024, and is expected to reach USD 8.14 billion by 2029, at a CAGR of 4.90% during the forecast period (2024-2029).
- Colombia is one of the major producers of fruits and vegetables globally. It produces several horticultural crops, namely banana, mango, pineapple, papaya, strawberry, avocado, potato, tomato, pepper, and onion. Banana is one of the largest segments as it has high production among fruits, high export potential, and a strong distribution network. For instance, according to FAOSTAT, Colombia's production of bananas was 2,413,768.52 metric tons in 2021, which increased to 2,521,732.57 metric tons in 2022.
- With the growing importance of nutritional balance among various consumer groups, the consumption of fruits is expanding in the country. Bananas, lemons, limes, berries, onions, oranges, and pineapples, among others, are the highly traded commodities in the fruits and vegetables segment of the country. Due to the nutritional properties of fruits, in recent years, minimally processed juices, beverages, and smoothies have become an alternative for healthy eating habits, further boosting the country's fresh produce in the coming years.
- In recent years, Colombia's fruit import market has witnessed significant growth. In 2023, the country's total fruit imports was worth USD 270.5 million, representing a considerable increase from the previous year. The growth in fruit imports can be attributed to several factors, including rising domestic demand, lower domestic production of some fruits, such as apples and grapes, and trade policies that allow greater access to foreign produce.
- The Colombian government has taken a significant step towards increasing opportunities for fruits and vegetables in the country. In 2020, the government supported the agricultural sector by launching a USD 320 thousand credit scheme, "Colombia Agro Produce," to support agricultural operations, particularly seed and input purchases for the farmers.
Colombia Fruits and Vegetables Market Trends
Strong Distribution and Retail Networks are Driving the Colombian Fresh Produce Sector
In recent years, Colombia's fresh produce import rate has been increasing faster than global imports, with Chile, the United States, and Peru being the major exporters. For instance, according to the ITC Trade map, the total fresh vegetable imports for 2023 were around 306.9 thousand metric tons, with a value of USD 280.2 million. This is a significant increase compared to the previous year's imports, which were valued at USD 280 million. This trend can be attributed to changing consumer food preferences, where an assortment of produce that excels at freshness, quality, flavor, safety, and convenience is in high demand. Consumers are willing to pay a premium for it. The increasing demand for fresh produce has created an opportunity for retail chains to import and cater to the needs of consumers, resulting in a surge in the number of retail chains in the country.
Retail food players, manufacturers, distributors, and other retailers are expected to leverage this opportunity, with their share expected to increase shortly. Hyper and supermarkets are the primary retail chains focusing on consolidation, with Almacenes Exito, Carulla-Vivero, Carrefour, Supertiendas Olimpica, Alkosto, Makro, Cafam, Colsubsidio and La 14, and Surtifruver being the major players in Colombia. These retail chains are undergoing rapid expansions, strengthening the distribution links of fresh produce in the domestic market.
Further, retail chains, manufacturers, distributors, and other retailers need to adjust to the evolving consumer preferences, such as providing fresh, high-quality, flavorful, safe, and convenient produce to meet the increasing demand for fresh produce. The retailers must focus on expanding their distribution channels and consolidating their operations to cater effectively to the growing demand. Overall, the fresh produce market in Colombia is set to witness significant growth shortly, and companies need to adapt and evolve to take advantage of this opportunity.
Bananas to Dominate the Fresh Produce Sector
Bananas are not only the most popular fruit in Colombia but also one of the country's most important tropical foods. According to the Food Agriculture Organization (FAO), Colombia's production of bananas was 2.41 million metric tons in 2021, which increased by 2.52 million metric tons in 2022. Colombia is the 5th largest exporter of bananas globally, with approximately 93% of the bananas produced being exported to foreign markets annually, with more than 50% destined for Europe and the United States. According to the ITC Trade map, bananas exported from Colombia to the United States were 361,475 metric tons in 2020, which increased by 366,086 metric tons in 2023.
In Colombia, the banana market is characterized by horizontal and vertical integration within the value chain, with a highly competitive export market focused on the country. However, the high demand from global markets has led to banana plantations becoming increasingly dependent on agrochemicals, which has slightly hampered production in the country over the past few years. Despite these challenges, the high demand for exports and increasing production in the country have helped Colombia become one of the major exporters of bananas globally during the forecasted period.
Colombia Fruits and Vegetables Market News
- October 2023: The Colombian Ministry of Agriculture and Rural Development granted COP 46.2 billion (USD 10.9 million) to support the insurance of farmers' fruit and vegetable production. The funds were allocated through the Colombian Fund for Agricultural Sector Development, whichsupports the acquisition of insurance premiums by farmers.
- January 2022: The Government of Colombia launched the Harvest and Sell to the Fixed initiative, aimed at boosting the harvest of these crops. By doing so, the government hopes to improve the income and quality of life of farmers across Colombia and create greater equity in the agriculture industry.
Colombian Fruits and Vegetables Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Advanced Technologies in Fruit and Vegetable Farming
4.2.2 Favorable Trade Agreements and Trade Liberalization
4.2.3 Inclination Toward Veganism and Healthy Diet
4.3 Market Restraints
4.3.1 Price Volatility of Fruits and Vegetables
4.3.2 International Conflicts and Climatic Uncertainties
5. MARKET SEGMENTATION (Production Analysis by Volume, Consumption Analysis by Value and Volume, Import Analysis by Value and Volume, Export Analysis by Value and Volume, and Price Trend Analysis)
5.1 Vegetables
5.2 Fruits
6. INTERNATIONAL TRADE AND PRICE SCENARIOS
6.1 Potato
6.2 Tomato
6.3 Pepper
6.4 Onion
6.5 Citrus
6.6 Banana
6.7 Mango
6.8 Papaya
6.9 Pineapple
6.10 Strawberry
6.11 Avocado
7. REGIONAL ANALYSIS
7.1 PESTLE Analysis
7.2 Supply Chain Analysis
7.3 Government Policies
8. COMPETITIVE ANALYSIS
8.1 Distribution Network and Retail Analysis
8.2 List/Profiles of Key Players
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
Colombia Fruits and Vegetables Industry Segmentation
Fruits and vegetables are important supplements to the human diet as they provide the essential nutrients required for maintaining health. The Colombia fruits and vegetables market is segmented by type (fruits and vegetables). The 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 offers market sizing in terms of value (USD) and volume (metric tons).
Colombian Fruits and Vegetables Market Research FAQs
How big is the Colombia Fruits And Vegetables Market?
The Colombia Fruits And Vegetables Market size is expected to reach USD 6.41 billion in 2024 and grow at a CAGR of 4.90% to reach USD 8.14 billion by 2029.
What is the current Colombia Fruits And Vegetables Market size?
In 2024, the Colombia Fruits And Vegetables Market size is expected to reach USD 6.41 billion.
What years does this Colombia Fruits And Vegetables Market cover, and what was the market size in 2023?
In 2023, the Colombia Fruits And Vegetables Market size was estimated at USD 6.10 billion. The report covers the Colombia Fruits And Vegetables Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Colombia Fruits And Vegetables Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Colombian Fruits and Vegetables Industry Report
The report on the Fruit and Vegetable Market Growth in Colombia provides a comprehensive industry overview, including production, consumption, exports, imports, and price trends. The market report segments the industry by type, covering both fruits and vegetables, and offers detailed market data in terms of value and volume. This industry analysis includes insights into the market forecast, market segmentation, and market value, offering a clear market outlook.
The industry profile highlights the market share and industry size, providing a historical overview as well as a market forecast outlook. The industry statistics and market statistics are presented in terms of USD million and metric tons, ensuring a detailed understanding of the market trends. The market review includes a sales forecast, indicating the market growth and the growth rate over the forecast period.
The report also includes a report example and a report PDF download for further reference. It offers industry research and industry information, focusing on the market leaders and market predictions. The industry reports provide a thorough market overview and market trends, essential for understanding the current state and future prospects of the Colombian fruits and vegetables market.
Overall, this industry outlook and market forecast offer valuable insights for research companies and stakeholders looking to understand the market dynamics and make informed decisions.
Colombian Fruits and Vegetables Market Report Snapshots
