Hyderabad, Aug. 18, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Colombia Fruits and Vegetables Market Report (2023-2028)," the market is estimated at USD 6.11 billion in 2023. It is expected to register a CAGR of 4.90% during the forecast period.
Colombia is a major global producer of fruits and vegetables. The country cultivates various horticultural crops, including banana, mango, pineapple, papaya, strawberry, avocado, potato, tomato, pepper, and onion. Banana is a significant segment with high production, export potential, and a strong distribution network. The consumption of fruits is increasing due to the growing importance of nutritional balance among different consumer groups. Minimally processed juices, beverages, and smoothies have gained popularity as alternatives for healthy eating habits in recent years. These trends are expected to contribute to the growth of Colombia's fresh produce industry in the future.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 6.11 billion |
| Market Size (2028) | USD 7.76 billion |
| CAGR (2023-2028) | 4.90% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Strong Distribution and Retail Networks |
| Huge export potential. |
Key Highlights from the Colombia Fruits and Vegetables Market Report:
Strong Distribution and Retail Networks
- Colombia's fresh produce import rate is growing faster than global imports. Chile, the United States, and Peru are the biggest exporters to the country.
- Changing consumer preferences for fresh, high-quality, flavorful, safe, and convenient produce are driving the growth of the market. Consumers are willing to pay a premium for such produce, leading to an increase in demand.
- Retail chains are seizing this opportunity to import and provide fresh produce to consumers, resulting in a rise in the number of retail chains in Colombia. Hypermarkets and supermarkets like Almacenes Exito, Carulla-Vivero, Carrefour, and others are major players in this trend, undergoing rapid expansion and strengthening distribution links.
Bananas Dominating the Fresh Produce Sector
- Bananas are not only the most popular fruit in Colombia but also a vital tropical food, accounting for around 21.7% of the country's fresh produce, with a marginal increase of 0.6%.
- Colombia is the fifth largest global exporter of bananas, with nearly 93% of its banana production being exported annually. Europe and the United States are the major markets for Colombian bananas, receiving more than 50% of the exports.
- The banana market in Colombia is marked by integration across the value chain and a competitive focus on exports. However, the high global demand has led to increased use of agrochemicals in banana plantations, posing challenges to production.
- Nevertheless, Colombia is expected to maintain its position as a major global banana exporter due to high demand and increasing production.
Other Reports That Might Be of Your Interest:
- Colombia Floriculture Market Report - The Colombian floriculture market size is estimated at USD 1.91 billion in 2023. It is expected to reach USD 2.42 billion by 2028, at a CAGR of 4.81% during the forecast period (2023-2028).
- Agriculture in Colombia Report - The agriculture market in Colombia is estimated at USD 10.53 billion in 2023. It is expected to reach USD 14.68 billion by 2028, at a CAGR of 6.88% during the forecast period (2023-2028).
What are the Latest Developments in the Colombia Fruits and Vegetables Market?
- In January 2022, the Colombian government started an initiative, Coseche y venda a la fija, to increase the harvesting of fruits and vegetables in the country.
- In January 2022, the Colombian government and International Fund for Agricultural Development (IFAD) started a strategic project for developing agriculture in the country's rural region with a national agenda till 2030.
Mordor Intelligence has Segmented the Colombia Fruits and Vegetables Market Based on Vegetables and Fruits.
- By Vegetables (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Potato
- Tomato
- Pepper
- Onion
- Citrus
- By Fruits (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Banana
- Mango
- Papaya
- Pineapple
- Strawberry
- Avocado
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Colombia Fruits and Vegetables Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
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