Food - Dominican Republic

Dominican Republic

Revenue in the Food market amounts to US$15.94bn in 2024. The market is expected to grow annually by 8.13% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$3.82bn in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$1,395.00 are generated in 2024.
In the Food market, 0.6% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 5,603.00m kg by 2029. The Food market is expected to show a volume growth of 4.7% in 2025.
The average volume per person in the Food market is expected to amount to 409.60kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

Region

Region comparison

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Analyst Opinion

The Food market in Dominican Republic is facing subdued growth, influenced by factors such as consumer preferences for convenience and health, increasing competition from imported goods, and limited access to technology for smaller producers. Despite sub-markets such as dairy and vegetables showing potential for growth, overall growth in The Food market is being impacted by these challenges.

Customer preferences: As the Dominican Republic experiences economic growth and globalization, consumer preferences in The Food market are shifting towards more convenient and healthier options. This includes a rise in demand for organic and locally sourced products, as well as a growing interest in plant-based and sustainable food choices. Additionally, there is a growing awareness and interest in food allergies and dietary restrictions, leading to an increase in alternative and specialized food products.

Trends in the market: In Dominican Republic, The Food market industry is experiencing a shift towards healthier and more sustainable food options. This trend is driven by consumer demand for local and organic products, as well as government initiatives promoting sustainable agriculture. This trajectory is significant as it not only addresses health concerns, but also contributes to the country's economic development and environmental sustainability. For industry stakeholders, this trend presents opportunities for innovation and differentiation in product offerings, as well as potential challenges in meeting consumer demands and complying with regulations. Additionally, there is potential for partnerships and collaborations with local farmers and suppliers to support the growth of this trend.

Local special circumstances: In the Dominican Republic, The Food market is heavily influenced by the country's agricultural industry, with a focus on locally sourced produce and traditional recipes. This sets it apart from other markets, as it reflects the cultural importance of food in Dominican society. Additionally, regulatory factors such as import restrictions and food safety regulations have a significant impact on the availability and pricing of certain food products. These unique local factors shape the market dynamics and consumer preferences, making it essential for businesses to understand and adapt to them for success.

Underlying macroeconomic factors: The Food market market in Dominican Republic is heavily influenced by macroeconomic factors such as economic stability, consumer spending patterns, and government policies. With a growing economy and increasing disposable income, there is a rising demand for high-quality and diverse food products in the country. Additionally, government initiatives to improve food safety and promote local agricultural production are driving the growth of the market. However, challenges such as inflation, trade policies, and supply chain disruptions can impact market performance. Furthermore, global economic trends, such as changes in trade agreements, can also have a significant impact on the Dominican food market. These factors should be carefully considered to ensure the continued growth and success of The Food market in the country.

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.