Fresh Vegetables - Belize

Belize

Highlights

Revenue in the Fresh Vegetables market amounts to US$8.32m in 2024. The market is expected to grow annually by 4.97% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$101bn in 2024).
In relation to total population figures, per person revenues of US$19.97 are generated in 2024.
In the Fresh Vegetables market, volume is expected to amount to 3.56m kg by 2029. The Fresh Vegetables market is expected to show a volume growth of 2.5% in 2025.0.
The average volume per person in the Fresh Vegetables market is expected to amount to 7.6kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Vegetables Market in Belize is experiencing negligible growth, impacted by limited agricultural innovation, fluctuating climate conditions, and changing consumer preferences, which affect the demand for various types of fresh produce across the region.

Customer preferences: Consumers in Belize are increasingly prioritizing fresh, locally-sourced vegetables as part of a growing awareness of health and sustainability. This shift is influenced by cultural traditions that emphasize farm-to-table practices and the younger demographic's preference for organic produce. Additionally, urbanization is prompting a rise in demand for convenience, leading to the popularity of farmers' markets and community-supported agriculture programs. These trends reflect a desire for fresher options and a connection to local farming, shaping the future of the Fresh Vegetables Market.

Trends in the market: In Belize, the Fresh Vegetables Market is experiencing a surge in demand for organic and locally-sourced produce, driven by heightened consumer awareness surrounding health and sustainability. This trend is particularly pronounced among younger demographics who prioritize farm-to-table practices. Additionally, urbanization is fostering a preference for convenience, leading to an increased popularity of farmers' markets and community-supported agriculture initiatives. These evolving consumer preferences not only signify a shift towards fresher produce but also present opportunities and challenges for local farmers, retailers, and supply chain stakeholders to adapt and innovate in response to the changing market landscape.

Local special circumstances: In Belize, the Fresh Vegetables Market is shaped by the country's rich biodiversity and favorable climate, which allow for a wide variety of crops to thrive year-round. Cultural traditions emphasize the importance of local cuisine, encouraging consumers to seek fresh, native ingredients. Furthermore, government initiatives promoting sustainable agricultural practices are fostering a supportive environment for organic farming. These unique local factors not only enhance the appeal of fresh vegetables but also create a vibrant community spirit, reinforcing the connection between consumers and local farmers, ultimately driving market growth.

Underlying macroeconomic factors: The Fresh Vegetables Market in Belize is significantly influenced by macroeconomic factors, including global food price fluctuations, agricultural trade policies, and local economic conditions. The stability of Belize's national economy, supported by tourism and agricultural exports, plays a crucial role in consumer purchasing power and demand for fresh produce. Additionally, government fiscal policies aimed at supporting local farmers through subsidies and grants enhance production capabilities. Global trends towards health-conscious eating and sustainability further increase local interest in fresh vegetables, encouraging both domestic consumption and export opportunities. These interconnected factors are vital for market performance and growth.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.