2014-04-03 01:25:01 - Caribbean Food and Drink Report Q2 2014 - a new market research report on companiesandmarkets.com
Though signs of growth are beginning to return to the Caribbean, economies within the region continue to feel the spillover effects of the 2009 financial crisis, which strongly shook the region´s key industries of tourism and finance. With this in mind, we forecast relatively slow food consumption growth in a majority of the Caribbean markets. Despite these difficulties, some markets, most notably Jamaica and Dominican Republic, are expected to outperform over the forecast period.
Headline Industry Data Forecast 2014 food consumption growth (local currency):
- Bahamas: +1.3%
- Barbados: +1.4%
- Dominican Republic: +4.9%
- Jamaica: +6.6%
- Puerto Rico: +3.5%
- Trinidad & Tobago: +2.7% Forecast food consumption compound annual growth rate (CAGR) 2013 to 2018 (local currency):
- Barbados: +2.2%
- Dominican Republic: +5.1%
- Jamaica: +4.9%
- Puerto Rico: +3.3%
- Trinidad & Tobago: +2.8% Key Company Trends NestlÃ© Invests CHF12.9mn In Carnation Milk Factory: Switzerland-based food group NestlÃ© is investing CHF12.9mn (US$13.23mn) in the expansion of its Carnation Milk dairy facility in the Dominican Republic, the second biggest economy in Central America and the Caribbean. NestlÃ© is installing new milk evaporation equipment in the plant, primarily to produce Carnation evaporated milk. The plant processes milk that arrives daily from 44 milk collection centres in 11 different provinces of the country.
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