Baby Milk & Infant Formula - Jamaica

Jamaica

Revenue in the Baby Milk & Infant Formula market amounts to €12.36m in 2024. The market is expected to grow annually by 4.00% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€15,470m in 2024).
In relation to total population figures, per person revenues of €4.38 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 0.67m kg by 2029. The Baby Milk & Infant Formula market is expected to show a volume growth of 2.2% in 2025.
The average volume per person in the Baby Milk & Infant Formula market is expected to amount to 0.2kg in 2024.

Key regions: South Korea, India, United Kingdom, United States, Japan

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Baby Milk & Infant Formula Market in Jamaica is experiencing minimal growth due to factors such as low birth rate, increasing breastfeeding rates, and strict regulations on formula advertising. Despite this, the market is expected to continue growing due to improving economic conditions and increasing disposable income of parents.

Customer preferences: Consumers in Jamaica are increasingly turning to organic and natural baby formulas as concerns around chemicals and additives in traditional formulas grow. This trend is driven by a cultural preference for natural and traditional remedies, as well as rising awareness of the potential health risks associated with artificial ingredients. Additionally, the rise in health-conscious parents is leading to a demand for formulas that are free from GMOs and other potentially harmful additives. This shift towards more natural options is expected to continue in the coming years, with parents prioritizing the health and well-being of their infants.

Trends in the market: In Jamaica, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is experiencing a growing demand for organic and natural options. This trend is driven by an increasing awareness of the benefits of natural and organic products, as well as concerns over the safety and quality of conventional formula. In addition, there is a rising trend of online purchasing, with parents looking for convenient and cost-effective options. This shift towards healthier and more convenient choices has significant implications for industry stakeholders, who must adapt their offerings to meet these changing consumer preferences.

Local special circumstances: In Jamaica, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is influenced by a unique blend of cultural and geographical factors. The country's close proximity to the Caribbean Sea allows for easy access to high-quality, locally-sourced ingredients, which are highly valued by Jamaican consumers. Additionally, the strong cultural preference for homemade and natural baby food has resulted in a slower adoption of packaged baby food products. Furthermore, strict government regulations on the labeling and advertising of baby food products have also shaped the market dynamics in Jamaica. These factors contribute to a highly competitive and dynamic market for baby milk and infant formula in Jamaica.

Underlying macroeconomic factors: The Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is greatly impacted by macroeconomic factors such as economic growth, consumer spending, and government policies. Countries with stable and growing economies, rising disposable incomes, and supportive fiscal policies tend to experience higher demand for baby milk and infant formula products. On the other hand, regions with economic downturns or high inflation rates may witness a decline in market growth due to reduced consumer purchasing power. Additionally, factors such as trade policies, currency fluctuations, and inflation rates can also influence the cost and availability of raw materials, production, and distribution costs, affecting the overall market performance.

Methodology

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.