Soft Drinks - Jamaica | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Soft Drinks market amounts to US$258.90m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$94.95m in 2024.
Revenue, combined amounts to US$353.90m in 2024.
The revenue, at home is expected to grow annually by 3.16% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated United States (US$114bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$91.67 are generated in 2024.
In the Soft Drinks market, volume, at home is expected to amount to 110.00m L by 2024.
Volume, out-of-home is expected to amount to 19.27m L in 2024.
Volume, combined is expected to amount to 129.30m L in 2024.
The Soft Drinks market is expected to show a volume growth, at home of -1.5% in 2025.0.
The average volume per person, at home in the Soft Drinks market is expected to amount to 38.96L in 2024.

Definition:

The market Soft Drinks covers varieties of prepared water-based beverages to which flavoring additives (sugar or sweeteners, aromas etc.) have been added. These include cola drinks and lemonades, but also energy drinks, fruit nectars and soft drinks with fruit juice content, as well as value-added or flavored water. Coffee and tea-based drinks are not included.

Structure:

The Soft Drinks market is structured into 3 markets:

Carbonated Soft Drinks denote all artificially sweetened and carbonated Non-Alcoholic Drinks.
Non-Carbonated Soft Drinks contain non-alcoholic liquid refreshment beverages that are not artificially carbonated.
Energy & Sports Drinks include energy drinks and sports drinks, providing functional benefits such as mental and physical stimulation.

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.

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.

Key players include The Coca-Cola Company, PepsiCo, Suntory, Red Bull, and Keurig Dr Pepper.

Carbonated Soft Drinks (Cola, Lemonade etc.)
Non-Carbonated Soft Drinks (nectars, value-added or flavoured water etc.)
Energy & Sports Drinks

Hot Drinks
Powdered drink mixes and syrups (e.g. Post-Mix Drinks)

The Soft Drinks market in Jamaica has experienced steady growth in recent years, driven by changing consumer preferences and local special circumstances.

Customer preferences: Jamaican consumers have shown a growing preference for healthier beverage options, leading to an increased demand for low-sugar and natural soft drinks. This shift in consumer preferences can be attributed to a global trend towards healthier lifestyles and a greater awareness of the negative health effects of sugary drinks. As a result, soft drink companies in Jamaica have been introducing new products that cater to these preferences, such as fruit-infused sparkling water and natural fruit juices.

Trends in the market: One of the key trends in the Soft Drinks market in Jamaica is the rise in demand for locally produced beverages. Jamaican consumers take pride in supporting local businesses and are increasingly seeking out soft drinks that are made with locally sourced ingredients. This trend has led to the emergence of several local soft drink brands that offer unique flavors and ingredients, such as sorrel and ginger. Another trend in the market is the growing popularity of functional soft drinks. Jamaican consumers are increasingly looking for soft drinks that offer additional health benefits, such as energy-boosting or immune-boosting properties. This has led to the introduction of soft drinks that contain natural ingredients like ginseng, turmeric, and aloe vera.

Local special circumstances: Jamaica's warm climate and vibrant tourism industry have contributed to the growth of the Soft Drinks market. The country's tropical climate makes soft drinks a popular choice among locals and tourists alike, providing a constant demand for refreshing beverages. Additionally, the tourism industry in Jamaica attracts a large number of international visitors who are eager to try local soft drinks and experience the unique flavors of the country.

Underlying macroeconomic factors: Jamaica's growing economy and rising disposable incomes have also played a role in the development of the Soft Drinks market. As the country's economy continues to improve, consumers have more purchasing power to spend on non-essential items like soft drinks. This has created a favorable market environment for soft drink companies, who are able to target a larger consumer base and invest in product innovation and marketing. In conclusion, the Soft Drinks market in Jamaica is experiencing growth due to changing consumer preferences, local special circumstances, and underlying macroeconomic factors. The demand for healthier and locally produced soft drinks, as well as functional beverages, is driving innovation in the market. With Jamaica's warm climate and growing economy, the Soft Drinks market is expected to continue to expand in the coming years.

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 Non-Alcoholic Drinks, 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 Non-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. The market is updated twice a year.

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