Dairy Products & Eggs - Jamaica

Jamaica

Revenue in the Dairy Products & Eggs market amounts to €447.10m in 2024. The market is expected to grow annually by 5.87% (CAGR 2024-2029).
In global comparison, most revenue is generated in India (€159bn in 2024).
In relation to total population figures, per person revenues of €158.30 are generated in 2024.
In the Dairy Products & Eggs market, volume is expected to amount to 189.00m kg by 2029. The Dairy Products & Eggs market is expected to show a volume growth of 1.2% in 2025.
The average volume per person in the Dairy Products & Eggs market is expected to amount to 63.5kg in 2024.

Key regions: Spain, Canada, United Kingdom, United States, Philippines

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Dairy Products & Eggs Market in Jamaica is seeing modest growth due to factors such as increasing health consciousness, convenience of online services, and rising adoption of digital technologies. The sub-markets of milk, yogurt, cheese, and others are also contributing to this growth. However, substitutes like milk and yogurt substitutes may be impacting the overall market's growth rate, which is currently minimal.

Customer preferences: As consumers in Jamaica become more health-conscious, there is a growing demand for dairy products and eggs that are free from hormones and antibiotics. This trend is driven by cultural preferences for natural and organic food options. Additionally, with an aging population, there is an increasing focus on dairy products and eggs that cater to specific health needs, such as those fortified with vitamins and minerals. This has also led to a rise in the popularity of alternative dairy products, such as plant-based milks and dairy-free cheeses.

Trends in the market: In Jamaica, the Dairy Products & Eggs Market within The Food market has seen a shift towards organic and locally sourced products, in line with global trends towards healthier and sustainable food options. This has led to increased demand for organic dairy and egg products, as well as a rise in small-scale dairy farms. Additionally, there is a growing trend of plant-based alternatives to dairy products, such as almond milk and vegan cheese, which has potential implications for traditional dairy producers. This trend also highlights the significance of consumer preferences and the need for industry stakeholders to adapt to changing market demands.

Local special circumstances: In Jamaica, the Dairy Products & Eggs Market is heavily influenced by the country's tropical climate and agricultural traditions. The availability of fresh, locally sourced ingredients and the preference for traditional dishes have shaped the demand for dairy and egg products. Additionally, strict regulations and government policies have played a key role in shaping the market, ensuring food safety and quality standards are met. This unique combination of factors has created a market that is distinct from others, with a focus on sustainable and locally produced goods.

Underlying macroeconomic factors: The Dairy Products & Eggs Market in Jamaica is heavily influenced by macroeconomic factors such as global trade policies, domestic economic stability, and consumer purchasing power. Countries with strong trade agreements and stable economies tend to have a more robust dairy and egg market due to increased demand and access to international markets. Additionally, fiscal policies that promote agricultural development and consumer spending can also impact the growth of this market. In Jamaica, the rising demand for dairy and egg products can also be attributed to an increasing population and changing dietary preferences towards healthier and more protein-rich options.

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.