Vegetables - South America

South America

Highlights

Revenue in the Vegetables market amounts to US$49.21bn in 2024. The market is expected to grow annually by 6.80% (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$119.10 are generated in 2024.
In the Vegetables market, volume is expected to amount to 41.48bn kg by 2029. The Vegetables market is expected to show a volume growth of 4.9% in 2025.0.
The average volume per person in the Vegetables market is expected to amount to 85.9kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Vegetables Market in South America is witnessing subdued growth, influenced by factors such as fluctuating agricultural yields, changing consumer preferences, and competition from imports. Additionally, economic challenges and supply chain disruptions are impacting overall market dynamics.

Customer preferences: Consumers in South America are increasingly prioritizing fresh, organic, and locally sourced vegetables, driven by a growing awareness of health and sustainability. This shift is influenced by a rising middle class that values quality over quantity and seeks to support local farmers. Additionally, urbanization and busy lifestyles have led to a preference for convenient meal solutions, including pre-packaged and ready-to-cook vegetable options. Social media platforms are also playing a crucial role in promoting plant-based diets, further shaping consumer choices in the vegetable market.

Trends in the market: In South America, the Vegetables Market is experiencing a notable shift towards organic and locally sourced produce, reflecting consumers' increasing focus on health and sustainability. This trend is bolstered by a burgeoning middle class that prioritizes quality and supports local agriculture. Additionally, the rise of urban living has spurred demand for convenient meal solutions, including pre-packaged and ready-to-cook vegetable options. The influence of social media in promoting plant-based diets further amplifies these changes, signaling significant opportunities and challenges for industry stakeholders, including farmers, retailers, and food processors.

Local special circumstances: In South America, the Vegetables Market is uniquely influenced by its diverse climates and rich agricultural heritage, enabling the cultivation of a wide array of vegetables, from Andean tubers to Amazonian greens. Cultural preferences play a significant role, as traditional dishes often emphasize fresh produce, driving demand for locally sourced ingredients. Additionally, regulatory frameworks supporting organic farming practices are gaining traction, reflecting a shift towards sustainable agriculture. These factors create a dynamic market environment, fostering innovation among producers and retailers while catering to evolving consumer preferences.

Underlying macroeconomic factors: The Vegetables Market in South America is shaped by several macroeconomic factors, including fluctuating commodity prices, exchange rates, and national economic stability. As global demand for healthy foods rises, South American countries with robust agricultural sectors benefit from increased exports, while domestic consumption is supported by rising incomes and urbanization. Fiscal policies promoting agricultural subsidies and investments in infrastructure enhance production efficiency. Additionally, climate change poses risks, impacting yield and pricing stability, which can affect market performance. These interconnected factors create a complex landscape for producers and retailers in the region.

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.