Meat - Jamaica

Jamaica

Revenue in the Meat market amounts to US$826.20m in 2024. The market is expected to grow annually by 6.31% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (US$273bn in 2024).
In relation to total population figures, per person revenues of US$292.50 are generated in 2024.
In the Meat market, volume is expected to amount to 111.90m kg by 2029. The Meat market is expected to show a volume growth of 1.5% in 2025.
The average volume per person in the Meat market is expected to amount to 37.0kg in 2024.

Key regions: Russia, China, Spain, Canada, United Kingdom

Market

Region

Region comparison

Currency

Analyst Opinion

The Meat market in Jamaica is experiencing minimal growth, influenced by factors such as consumer preferences for fresh and locally sourced meat, the increasing demand for healthier meat substitutes, and the slow adoption of digital technologies in the food industry. Despite this slow growth, the convenience of online shopping and the rising health awareness among consumers are expected to drive the market in the future.

Customer preferences: Consumers in Jamaica are showing a growing preference for locally sourced and organic meats, driven by increasing awareness of sustainable and ethical food production. This trend is further reinforced by a shift towards healthier diets, with a focus on lean proteins. Additionally, there is a rising interest in alternative meat options, such as plant-based alternatives and game meat, as consumers become more health-conscious and seek out diverse and unique dining experiences.

Trends in the market: In Jamaica, the Meat Market within The Food market industry is experiencing a rise in demand for organic and locally sourced meat products. This trend is driven by consumers' increasing awareness and concern for health and sustainability. Furthermore, there is a growing trend towards plant-based meat alternatives, driven by the rise of vegetarian and vegan diets. These trends are significant as they reflect a shift in consumer preferences and values, and have implications for industry stakeholders to adapt their product offerings and marketing strategies to cater to these changing demands. Additionally, there is potential for the Meat Market to expand into international markets, particularly in the Caribbean and North America, where there is a growing demand for Jamaican cuisine and products.

Local special circumstances: In Jamaica, the Meat Market within The Food market is greatly influenced by the country's rich cultural heritage and its tropical climate. The Jamaican cuisine is known for its flavorful and spicy dishes, which heavily feature meat as a main ingredient. The demand for locally sourced and sustainable meat is also on the rise, reflecting the country's focus on supporting local businesses and promoting environmental sustainability. Additionally, the government's strict regulations on meat production and importation play a significant role in shaping the market dynamics, ensuring the safety and quality of meat products for consumers.

Underlying macroeconomic factors: The Meat Market within The Food market market in Jamaica is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. As a developing country, Jamaica's economy is heavily dependent on agriculture, with meat production being a significant contributor. Changes in global economic conditions, such as fluctuations in commodity prices and trade policies, can have a significant impact on the meat market in Jamaica. Additionally, the country's national economic health, including factors such as inflation, unemployment, and GDP growth, can affect consumer purchasing power and ultimately impact the demand for meat products. Fiscal policies, such as taxes and subsidies, can also influence market performance by affecting production costs and consumer prices. Overall, a stable and growing economy, coupled with favorable government policies, can contribute to a thriving meat market in Jamaica.

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.