Alcoholic Drinks - Jamaica | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Alcoholic Drinks market amounts to US$251.5m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$189.8m in 2024.
Revenue, combined amounts to US$441.2m in 2024.
The revenue, at home is expected to grow annually by 2.69% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated China (US$208bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$89.03 are generated in 2024.
In the Alcoholic Drinks market, volume, at home is expected to amount to 37.2m L by 2024.
Volume, out-of-home is expected to amount to 19.1m L in 2024.
Volume, combined is expected to amount to 56.3m L in 2024.
The Alcoholic Drinks market is expected to show a volume growth, at home of -4.2% in 2025.0.
The average volume per person, at home in the Alcoholic Drinks market is expected to amount to 13.16L in 2024.

Definition:

The Alcoholic Drinks market includes all alcoholic beverages that are produced by fermentation or distillation.

Structure:

The Alcoholic Drinks market is divided into 5 markets:

The Beer market encompasses fermented beverages based on malt. The Beer market is further divided into the markets Alcoholic Beer and Non-Alcoholic Beer.
The Spirits market encompasses alcoholic beverages that are produced through the distillation of wine, fermented fruits, or grains. It contains the Whisky, Vodka, Rum, Gin, Brandy, Soju, Tequila, and Liqueurs & Other Spirits markets.
The Wine market encompasses all fermented juices made from grapes. The Wine market is further divided into Still Wine (Red Wine, White Wine, and Rosé Wine), Sparkling Wine, and Fortified Wine.
The Cider, Perry & Rice Wine market encompass all wines made from fruits other than grapes, grains, or other plants.
The Hard Seltzer market encompasses alcoholic beverages made with carbonated water, alcohol, and often fruit flavoring.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Anheuser-Busch InBev (e.g., Corona, Bud Light, and Michelob), Diageo (e.g., Johnnie Walker, Guinness, and Tanqueray), Heineken, and Molson Coors.

Alcoholic & Non-Alcoholic Beer
Wine
Spirits
Cider, Perry and Rice Wines
Hard Seltzer

Non-Alcoholic Beverages derived from Wine or Spirits

The Alcoholic Drinks market in Jamaica has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Jamaica have been shifting towards higher quality and premium alcoholic drinks. Consumers are becoming more discerning and are willing to pay a premium for products that offer unique flavors and superior quality. This trend is driven by a growing middle class with increased disposable income and a desire for more sophisticated drinking experiences. Additionally, there is a rising interest in craft beers, wines, and spirits, as consumers seek out new and unique flavor profiles. Trends in the market also contribute to the development of the Alcoholic Drinks market in Jamaica. One major trend is the increasing popularity of locally produced alcoholic beverages. Jamaican rum, in particular, has gained international recognition for its distinct flavor and quality. This has led to an increase in the number of local distilleries and a greater focus on promoting Jamaican-made products both domestically and abroad. Additionally, there is a growing demand for healthier alcoholic options, such as low-alcohol or alcohol-free beverages, as consumers become more health-conscious. Local special circumstances play a significant role in shaping the Alcoholic Drinks market in Jamaica. The country's tourism industry is a major driver of demand for alcoholic beverages, as visitors from around the world seek to experience the local culture and cuisine. This has led to an increased demand for Jamaican rum, which is often seen as a symbol of the island's identity. Furthermore, the country's vibrant nightlife scene and cultural events, such as music festivals, contribute to the consumption of alcoholic drinks. Underlying macroeconomic factors also impact the development of the Alcoholic Drinks market in Jamaica. The country's stable economic growth and increasing disposable income have created a favorable environment for the industry. Additionally, government policies aimed at promoting the tourism and hospitality sectors have helped drive demand for alcoholic beverages. However, the market also faces challenges, such as high import taxes on alcoholic drinks, which can affect pricing and consumer affordability. In conclusion, the Alcoholic Drinks market in Jamaica is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Consumers are seeking higher quality and premium products, while also showing interest in locally produced beverages and healthier options. The country's tourism industry and vibrant nightlife scene further contribute to the demand for alcoholic drinks. Overall, the market is expected to continue growing in the coming years, driven by these factors.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

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 (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level 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 Alcoholic Drinks 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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The alcoholic beverage market is recovering after several years of downturn. Larger forces like the COVID-19 pandemic, the Russian invasion of Ukraine and the ensuing inflation have either been resolved or accepted as part of the current market environment. Regional conditions vary as consumers in some areas of the world are changing their alcohol preferences while other regions are continuing to feel the effects of less discretionary spending from consumers.