Bread - Jamaica | Statista Market Forecast

Bread - Jamaica

Jamaica

Highlights

Revenue in the Bread market amounts to US$165.20m in 2024. The market is expected to grow annually by 6.35% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$80bn in 2024).
In relation to total population figures, per person revenues of US$58.49 are generated in 2024.
In the Bread market, volume is expected to amount to 49.63m kg by 2029. The Bread market is expected to show a volume growth of 2.0% in 2025.0.
The average volume per person in the Bread market is expected to amount to 16.3kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Bread market in Jamaica is experiencing negligible growth due to various factors such as low consumer awareness, limited access to online services, and traditional preferences. Despite the convenience offered by digital technologies, the growth rate remains low in this market segment.

Customer preferences: As the Jamaican population becomes more health-conscious, there has been a rise in demand for healthier options in the Bread Market of the Bread & Cereal Products Market within The Food market. This has led to an increase in the availability of whole grain and gluten-free breads, catering to consumers with dietary restrictions. Additionally, organic and locally sourced ingredients are gaining popularity, as consumers become more aware of the environmental and health impacts of their food choices.

Trends in the market: In Jamaica, there is a growing trend of incorporating local ingredients and traditional flavors into bread products, catering to the demand for authentic and culturally relevant food options. This trend is also reflected in the global market, with a rise in demand for artisanal and specialty breads. This trajectory is significant for industry stakeholders as it presents opportunities for differentiation and premiumization. However, it also poses challenges in terms of sourcing and production processes. With increasing health consciousness, there is also a demand for healthier bread options, driving innovation in the market.

Local special circumstances: In Jamaica, the Bread Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's strong agricultural sector. Local ingredients, such as cassava and coconut, are commonly used in bread production, providing a unique and flavorful twist to traditional bread products. Additionally, cultural factors play a significant role in the popularity of certain bread types, such as sweet potato bread and festival bread, which are commonly served at special events and celebrations. Government regulations also play a role, as there are strict protocols in place for food safety and labeling, ensuring high-quality and safe bread products for consumers.

Underlying macroeconomic factors: The Bread Market of the Bread & Cereal Products Market within The Food market in Jamaica is influenced by macroeconomic factors such as government policies, consumer spending, and international trade. Jamaica's economy heavily relies on tourism, which can impact the demand for bread products. Additionally, the country's high import dependency and fluctuating exchange rates can affect the cost of raw materials and ultimately impact the pricing of bread products. Furthermore, the country's economic stability and consumer purchasing power can also influence the demand for bread products in Jamaica.

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.