Fresh Vegetables - LATAM

LATAM

Highlights

Revenue in the Fresh Vegetables market amounts to US$67.45bn in 2024. The market is expected to grow annually by 6.58% (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$106.10 are generated in 2024.
In the Fresh Vegetables market, volume is expected to amount to 54.84bn kg by 2029. The Fresh Vegetables market is expected to show a volume growth of 4.7% in 2025.0.
The average volume per person in the Fresh Vegetables market is expected to amount to 73.8kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Vegetables Market in LATAM is experiencing minimal growth, influenced by factors such as fluctuating agricultural practices, varying consumer preferences, and competition from processed alternatives, which challenge the traditional supply chain dynamics.

Customer preferences: Consumers in LATAM are showing a growing preference for locally sourced and organic fresh vegetables, reflecting a shift towards sustainability and health-conscious eating. This trend is bolstered by an increasing awareness of nutritional benefits and environmental impact, particularly among younger demographics. Additionally, urbanization and busy lifestyles are driving demand for convenient, pre-packaged fresh vegetable options that align with quick meal preparation, while social media influences are shaping culinary creativity and increasing interest in plant-based diets.

Trends in the market: In LATAM, the Fresh Vegetables Market is experiencing a notable shift towards organic and locally sourced produce, driven by consumers’ increasing awareness of health and sustainability. This trend highlights a growing demand for transparency in food sourcing, particularly among younger generations. Additionally, urbanization is fueling the popularity of convenient, ready-to-eat vegetable options that cater to busy lifestyles. Social media is further influencing this market by promoting plant-based diets and innovative cooking ideas, prompting industry stakeholders to adapt their offerings and marketing strategies to align with these evolving consumer preferences.

Local special circumstances: In LATAM, the Fresh Vegetables Market is shaped by diverse geographical features, including mountainous regions and tropical climates, which influence the variety and availability of produce. Cultural preferences for traditional dishes drive demand for specific vegetables, while local festivals often emphasize seasonal produce. Additionally, regulatory frameworks supporting organic farming practices are gaining traction, encouraging sustainable agriculture. The region's strong community ties foster farmers' markets and cooperatives, enhancing consumers' preference for fresh, locally sourced options that resonate with their cultural identity.

Underlying macroeconomic factors: The Fresh Vegetables Market in LATAM is significantly influenced by macroeconomic factors such as agricultural policies, trade agreements, and economic stability. Favorable fiscal policies aimed at supporting local farmers and promoting sustainable practices are fostering growth in organic vegetable production. Additionally, fluctuations in global commodity prices can impact local supply chains and pricing strategies. Economic health indicators, such as GDP growth and inflation rates, also play a crucial role in consumer purchasing power and demand for fresh produce. Lastly, urbanization trends are shifting consumption patterns, increasing the reliance on fresh vegetables as urban lifestyles evolve.

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.