Vegetables - Guyana

Guyana

Highlights

Revenue in the Vegetables market amounts to US$58.80m in 2024. The market is expected to grow annually by 6.02% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$159bn in 2024).
In relation to total population figures, per person revenues of US$71.75 are generated in 2024.
In the Vegetables market, volume is expected to amount to 34.91m kg by 2029. The Vegetables market is expected to show a volume growth of 2.5% in 2025.0.
The average volume per person in the Vegetables market is expected to amount to 37.8kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Vegetables Market within The Food market in Guyana is experiencing minimal growth, influenced by factors such as fluctuating agricultural practices, limited access to modern preservation techniques, and varying consumer preferences for fresh versus processed options.

Customer preferences: In Guyana's Vegetables Market, consumers are increasingly favoring locally sourced and organic produce, reflecting a growing awareness of health and sustainability. This shift is influenced by younger demographics who prioritize fresh ingredients for home-cooked meals, driven by a desire for healthier lifestyles. Additionally, the rise of social media has facilitated the sharing of recipes and cooking tips, encouraging a trend towards plant-based diets. As urbanization continues, convenience-oriented consumers are also showing interest in pre-packaged, ready-to-cook vegetable options, blending tradition with modernity.

Trends in the market: In Guyana's Vegetables Market, there is a notable trend towards the adoption of hydroponic and vertical farming techniques, aimed at increasing local production efficiency and reducing reliance on imports. Consumers are increasingly seeking out seasonal and heritage vegetables, valuing their unique flavors and nutritional benefits. Furthermore, community-supported agriculture (CSA) models are gaining popularity, fostering direct connections between farmers and consumers. These trends signify a shift towards sustainable practices and local economies, prompting industry stakeholders to innovate in supply chains and marketing strategies to meet evolving consumer preferences.

Local special circumstances: In Guyana's Vegetables Market, the diverse geography and rich soil types facilitate the cultivation of a wide variety of vegetables, from traditional staples to exotic varieties. The country’s cultural emphasis on local cuisine drives demand for indigenous produce, encouraging farmers to focus on heritage crops. Additionally, regulatory support for sustainable farming practices bolsters initiatives like organic farming and agroecology. These local factors, combined with a growing awareness of food security, are reshaping market dynamics, enabling farmers to innovate and respond effectively to consumer preferences for fresh, local, and sustainable produce.

Underlying macroeconomic factors: The Vegetables Market in Guyana is significantly influenced by macroeconomic factors such as national economic stability, trade policies, and global market trends. The country’s economic health, characterized by GDP growth and inflation rates, directly impacts consumer purchasing power and demand for fresh produce. Additionally, favorable fiscal policies that support agricultural subsidies and investments in infrastructure enhance farmers' productivity and market access. Global shifts in food prices and demand for organic produce also affect local market dynamics, prompting farmers to adapt their practices. Moreover, climate change and its effects on crop yields further underscore the need for resilient agricultural strategies, shaping the future of the vegetables market in Guyana.

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.