Market Insights Consumer Food Confectionery & Snacks

Confectionery - Jamaica

Jamaica

Revenue in the Confectionery market amounts to €267.70m in 2024. The market is expected to grow annually by 6.70% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€77bn in 2024).
In relation to total population figures, per person revenues of €94.75 are generated in 2024.
In the Confectionery market, volume is expected to amount to 35.52m kg by 2029. The Confectionery market is expected to show a volume growth of 1.8% in 2025.
The average volume per person in the Confectionery market is expected to amount to 11.5kg in 2024.

Key regions: Spain, Canada, Japan, South Korea, Russia

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Comparación de regiones

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Analyst Opinion

The confectionery market in Jamaica is seeing minimal growth, influenced by factors such as changing consumer preferences, increasing health consciousness and the convenience of online shopping. These sub-markets are driving the overall market growth, with chocolate and sugar confectionery leading the way. Despite the slow growth rate, the market continues to expand due to the popularity of ice cream and preserved pastry goods & cakes.

Customer preferences: In Jamaica, the Confectionery Market of the Confectionery & Snacks Market within The Food market has seen a rise in demand for healthier and organic options. This shift in consumer preferences is influenced by the country's cultural emphasis on natural and traditional ingredients, as well as the growing health-consciousness among younger demographics. As a result, companies are incorporating local and natural ingredients into their confectionery products, such as using fruits and herbs in their recipes. This trend is expected to continue as consumers prioritize healthier snack options.

Trends in the market: In Jamaica, the Confectionery & Snacks market is experiencing a shift towards healthier options, with consumers becoming increasingly health-conscious. This trend is driven by a growing focus on wellness and the rise of social media influencers promoting healthier lifestyles. As a result, there is a growing demand for natural, organic, and functional snacks, as well as reduced-sugar and gluten-free options. Industry stakeholders should take note of this trend and adapt their product offerings to cater to this changing consumer preference. This also presents an opportunity for market players to innovate and differentiate themselves in a highly competitive market.

Local special circumstances: In Jamaica, the Confectionery Market of the Confectionery & Snacks Market within The Food market is heavily influenced by the country's tropical climate and rich cultural heritage. The warm weather and abundance of fresh fruits provide a unique opportunity for confectionery companies to incorporate local flavors and ingredients into their products. Additionally, Jamaica's strong tourism industry drives demand for locally-made confectionery items and souvenirs. However, strict regulations on imported goods and high import duties can pose challenges for international confectionery brands looking to enter the market. These factors contribute to the dynamic and diverse landscape of the confectionery market in Jamaica.

Underlying macroeconomic factors: The Confectionery Market of the Confectionery & Snacks Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending power, population demographics, and global economic conditions. Countries with stable economies and a growing middle class are experiencing a higher demand for confectionery products, while regions with struggling economies and high inflation rates are seeing a decline. Additionally, changing consumer preferences and health concerns are also impacting the market, leading to a shift towards healthier and more diverse confectionery options. Furthermore, government policies and regulations surrounding food safety and labeling are also influencing market growth and innovation.

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.