Bread, pastry, cakes, biscuits and bakers’ wares market in Caribbean

Earlier Report Observations

The Caribbean market for bread, pastry, cakes, biscuits and bakers’ wares contracted from 79.2 thousand tons in 2018 to 74.0 thousand tons by 2020. This decline was primarily driven by the negative impact of the COVID-19 pandemic on sales and revenues across the biscuit sector.

A strong recovery began in 2021, with market volume expanding to 84.8 thousand tons, fueled by rising consumer demand for healthier and innovative products such as gluten-free and organic biscuits. The growth accelerated, reaching 114.3 thousand tons in 2023, supported by industrial investments in production capacity, the launch of new products like Ferrero's Kinder Tronky, and expansion in segments like cookies and snack cakes.

Throughout the period, underlying trends included a shift towards organic products, reductions in sugar content, and the rise of bakery chains. By 2024, the sector adopted a professional charter for improved labeling and continued to face margin pressures from volatile raw material prices.

Production bread, pastry, cakes, biscuits and bakers’ wares in Caribbean

In kind, 2017-2020, t

Top producers of bread, pastry, cakes, biscuits and bakers’ wares, 2017-2020

World map of production of bread, pastry, cakes, biscuits and bakers’ wares, 2017-2020

After two years of growth, production of bread, pastry, cakes, biscuits, and bakers' wares in the Caribbean declined. In 2020, Caribbean countries produced 11 540 tonnes of these goods, marking a moderate 6.9% decrease compared to the previous year. Looking at the period from 2017 to 2020, production actually increased by 23.4%, which translates to an average annual growth rate of 7.3%. The peak production volume was recorded in 2019 at 12 391 tonnes, with the largest year-on-year increase of 15.6% also occurring that year.

Annual dynamics of production in Caribbean in kind, 2017-2020, t

In value, 2017-2020, K $ US

Production of bread, pastry, cakes, biscuits, and bakers' wares in the Caribbean increased for the third consecutive year in value terms. In 2020, the output was valued at 49 813 thousand US dollars, representing a 10.0% rise compared to the previous year. Over the four-year period from 2017 to 2020, production value grew by 62.6%, averaging an annualized increase of 17.6%.

Annual dynamics of production in Caribbean in value, 2017-2020, K $ US

Exports bread, pastry, cakes, biscuits and bakers’ wares from Caribbean

Exports in kind, K t

Exports of bread, pastry, cakes, biscuits, and bakers' wares from the Caribbean declined for the third year in a row. In 2020, exports totaled 26.1 thousand tonnes, showing a significant drop of 25.0% year-over-year. From 2017 to 2020, exports decreased by 32.4%, with a compound annual growth rate of -12.3%.

Annual dynamics of product's exports from Caribbean in kind, 2017-2020, K t

Between 2017 and 2020, the United States, Guyana, and the United Kingdom were the top buyers of Caribbean bread, pastry, cakes, biscuits, and bakers' wares in volume terms. The United States accounted for 21.2% of exports, Guyana for 7.1%, and the United Kingdom for 3.0%. However, their combined share was only 31.2% of total exports, indicating a highly diversified market structure with many smaller partners.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Caribbean in kind, 2017-2020

Exports in value, M $ US

Exports of bread, pastry, cakes, biscuits, and bakers' wares from the Caribbean fell for the second consecutive year in value terms. In 2020, exports amounted to 112.5 million US dollars, reflecting a robust decline of 11.5% compared to 2019. Over the period from 2017 to 2020, exports decreased by 11%, with an annualized rate of -3.8%. The highest export value was recorded in 2018 at 133.0 million US dollars, which also saw the largest increase of 5.2% that year.

Annual dynamics of product's exports from Caribbean in value, 2017-2020, M $ US

From 2017 to 2020, no single market dominated Caribbean exports of bread, pastry, cakes, biscuits, and bakers' wares in value terms. The United States held the largest share at 23.2%, followed by Guyana at 7.4%, and the United Kingdom at 2.6%. Together, these three countries accounted for just 33.3% of total export value, while numerous smaller partners each contributed modest individual shares, highlighting a fragmented export landscape.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Caribbean in value, 2017-2020

Imports bread, pastry, cakes, biscuits and bakers’ wares to Caribbean

Imports in kind, K t

Imports of bread, pastry, cakes, biscuits, and bakers' wares into the Caribbean declined for the second year in a row in volume terms. In 2020, the region imported 88.6 thousand tonnes of these goods, representing an 11.0% decrease compared to the previous year. Between 2017 and 2020, imports fell by 11.6%, with an annualized decline of 4.0%. The peak import volume was in 2018 at 105.9 thousand tonnes, which also experienced the largest increase of 5.8% that year.

Annual dynamics of product's imports to Caribbean in kind, 2017-2020, K t

Over the period 2017 to 2020, the United States, India, and Colombia were the leading suppliers of bread, pastry, cakes, biscuits, and bakers' wares to the Caribbean in volume terms. The United States accounted for 24.9% of imports, India for 9.4%, and Colombia for 9.1%. However, their combined share was 43.4% of total imports, with many other smaller partners contributing to a broadly diversified supply base.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Caribbean in kind, 2017-2020

Imports in value, M $ US

Imports of bread, pastry, cakes, biscuits, and bakers' wares into the Caribbean decreased for the second consecutive year in value terms. In 2020, imports totaled 280.3 million US dollars, showing a modest drop of 8.4% compared to 2019. From 2017 to 2020, imports declined by 2.5%, with a compound annual growth rate of -0.8%. The highest import value was recorded in 2018 at 314.7 million US dollars, which also saw the largest increase of 9.5% that year.

Annual dynamics of product's imports to Caribbean in value, 2017-2020, M $ US

Between 2017 and 2020, the United States, Colombia, and Peru were among the largest suppliers of bread, pastry, cakes, biscuits, and bakers' wares to the Caribbean in value terms. The United States held a 35.6% share, Colombia 6.7%, and Peru 4.6%. Yet, even together, they represented only 47.0% of total import value, underscoring a highly diversified partner base with numerous smaller contributors.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Caribbean in value, 2017-2020