Uruguay Fruits and Vegetables Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Uruguay Fruits and Vegetables Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Uruguayan fruits and vegetables market is expected to register a CAGR of 7.1% during the forecast period.

The COVID-19 pandemic has led to increasing demand for fruits and vegetables due to growing awareness about healthy and nutritional diets. Due to the closure of restaurants, bars, and schools, produce growers and distributors were forced to shift supplies almost entirely from the food service to the retail channel in the country. Hence, COVID-19 has had no significant impact on the fruits and vegetable market in Uruguay. Major fruits and vegetables grown in Uruguay are oranges, tangerines, apples, cranberries, pears, melons, grapes, peaches, quinces, sweet potatoes, dry peas, onions, pumpkins, squash, potatoes, and broad beans. Citrus fruit production has a long tradition in the country, and much of it has been destined for export. The major factors driving the market are favorable government policies like no restrictions on exports of agro-industrial products and insurance against extreme climate events, resulting in loss of fruit and vegetable production.

Key Market TrendsAdoption of Strategies to Increase Productivity

The agricultural sector is a mainstay of the Uruguayan economy, contributing 70% of exports and 7% of the gross domestic product (GDP). The sector has experienced a period of rapid growth, intensification, and modernization over the last decade. Citrus fruit production has a long tradition in the country, and much of it has been destined for export. In the South of Uruguay, the average vegetable cropped area per farm increased, while the average total area per vegetable farm stayed approximately the same. However, the country is not self-sufficient in vegetable production, which necessitates the import, driving the growth of the market.

Development of Climate Change Policies, Strategies, and Plans

Uruguay has developed an advanced suite of climate change policies, strategies, and plans. The country has committed to ambitious and quantified sectoral mitigation targets to be achieved by 2030. Financial institutions play an important role in sustaining fruit and vegetable production amid ago-climate changes through the initiatives that offer insurances against extreme events (like hydrological events, storms, hail, wind, etc.), as well as unconventional insurances based on weather indices, to mitigate the effects of water and drought excesses. This is another factor driving the growth of the fruits and vegetables market in Uruguay.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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