Vietnam Fruit and Vegetable Market Share and Size, Trends, Scope,...

Vietnam Fruit and Vegetable Market Share and Size, Trends, Scope, CAGR Status, Market Analysis, Future Opportunities and Forecast Till 2033

Posted 2024-08-09 11:00:11

Fruits and vegetables are vital components of a well-balanced diet because they provide a range of nutrients that are necessary for maximum health. Seeds are typically found inside fruits and have a variety of flavours, textures, and nutritional profiles. Apples, berries, and oranges are some of the most well-known examples. On the other hand, a range of plant components, such as stems, roots, and leaves, make up vegetables. They are abundant in minerals, vitamins, and fiber—all of which are beneficial to general health. Among the vegetables are leafy greens, broccoli, and carrots. The vivid colours that distinguish fruits and vegetables from one another are indicators of phytochemicals, which may have beneficial impacts on health.

According to SPER Market Research, ‘Vietnam Fruit and Vegetable Market Size – By Product, By Type, By Distribution Channel - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Vietnam Fruit and Vegetable Market is estimated to reach USD 29.37 billion by 2033 with a CAGR of 5.65%.

Drivers: Growing consumer awareness of the importance of a healthy diet and lifestyle is one of the primary drivers of the Vietnam fruits and vegetables market. Concerns about noncommunicable diseases such as obesity, diabetes, and cardiovascular ailments are increasing, therefore people are becoming more careful of what they eat and seeking out healthful, fresh meals such as fruits and vegetables. Fruits and vegetables are essential components of a balanced diet because they are high in vitamins, minerals, antioxidants, and dietary fibre. They can help prevent chronic illnesses and promote overall health and well-being. As a result, urban clients, health-conscious individuals, and families seeking to include more fruits and vegetables into their diets are increasing demand for fresh produce.

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Restraints: The Vietnam fruits and vegetables market confronts problems such as post-harvest losses, poor infrastructure, and supply chain inefficiencies. Post-harvest losses are caused by factors such as incorrect handling, storage, and transportation of perishable fruits and vegetables, which results in large waste and lower commercial yields. Inadequate infrastructure, such as cold storage facilities, transportation networks, and market facilities, exacerbates post-harvest losses and limits farmers' access to markets, particularly in remote and rural locations. Supply chain inefficiencies, such as fragmented distribution networks, a lack of transparency, and inadequate market knowledge, all lead to market inefficiencies and lower farmer and trader profitability.

The Covid-19 outbreak had a major influence on the Vietnam fruit and vegetable sector. Lockdowns and travel restrictions caused initial disruptions in the supply chain. However, the market immediately responded to the new obstacles by adding safety precautions and alternate distribution routes. The epidemic also raised consumer awareness of health and nutrition, resulting in increased demand for fruits and vegetables as they sought to strengthen their immune systems.

The southern region, specifically the Mekong Delta, dominates the fruit and vegetable market. This location is noted for its good soil and pleasant environment, which make it perfect for growing a wide range of fruits and vegetables. Major market participants include Doveco, Luong Gia Food Technology Joint Stock Company, Giang Food and Vegetables Joint Stock Company, and others.

Vietnam Fruit and Vegetable Market Segments:

By Product: