Market Insights Consumer Food Dairy Products & Eggs

Yogurt - Caribbean

Caribbean

Revenue in the Yogurt market amounts to US$0.91bn in 2024. The market is expected to grow annually by 4.97% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (US$45,720m in 2024).
In relation to total population figures, per person revenues of US$22.37 are generated in 2024.
In the Yogurt market, volume is expected to amount to 0.36bn kg by 2029. The Yogurt market is expected to show a volume growth of 1.1% in 2025.
The average volume per person in the Yogurt market is expected to amount to 8.5kg in 2024.

Key regions: Russia, Spain, South Korea, Philippines, United States

Market

Region

Region comparison

Currency

Analyst Opinion

The Yogurt Market in the Caribbean is seeing minimal growth due to factors such as low consumer health awareness and limited access to digital technologies. However, increasing demand for healthy food options may impact this growth rate in the future.

Customer preferences: As health and wellness become increasingly important in Caribbean culture, there has been a rise in demand for healthier options in the Yogurt Market. This has led to an increase in the production of organic and plant-based yogurts, catering to the growing trend of health-conscious consumers. Additionally, with a growing population of lactose-intolerant individuals, there has been a surge in the availability of dairy-free yogurt alternatives in the market.

Trends in the market: In the Caribbean, there is a growing demand for plant-based and lactose-free yogurt options, driven by a rise in health consciousness and dietary restrictions. In parallel, the yogurt market is experiencing an increase in functional and probiotic yogurt products, catering to consumers' desire for added health benefits. These trends are expected to continue as consumers become more health-conscious and seek out alternative dairy options. Industry stakeholders should focus on developing innovative and diverse product offerings to meet these evolving consumer preferences and capitalize on the growing market potential.

Local special circumstances: In the Caribbean, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the region's tropical climate and the availability of fresh fruits. Yogurt flavors such as mango, passion fruit, and coconut are popular among consumers. Additionally, the cultural preference for healthy and natural products drives the demand for yogurt made from locally sourced ingredients. Furthermore, regulatory policies on import and export also play a significant role in shaping the market dynamics, as the region relies heavily on trade for dairy products.

Underlying macroeconomic factors: The Yogurt Market of the Dairy Products & Eggs Market within The Food market in the Caribbean is heavily impacted by macroeconomic factors such as population growth, disposable income levels, and consumer preferences. As Caribbean countries continue to experience economic growth and increased disposable income, there is a growing demand for healthier food options such as yogurt. Additionally, the region's warm climate and strong cultural ties to dairy consumption also drive market growth. However, fluctuations in global trade and tariffs, as well as shifting consumer trends towards plant-based alternatives, may present challenges for the Yogurt Market in the Caribbean.

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.