Concentrated or sweetened milk and cream market in Caribbean

Earlier Report Observations

The Caribbean market for concentrated or sweetened milk and cream contracted significantly between 2018 and 2023, with its volume falling from 190.3 thousand tons to 95.3 thousand tons. This decline included a sharp drop in 2021, followed by continued reduction through 2023.

By 2024, the market landscape was shaped by a strong consumer shift toward plant-based alternatives, notably coconut milk and cream, which held a 69.5% market share. This trend, driven by demand for dietary alternatives and convenience, was accompanied by product innovation in flavors and packaging, influencing dynamics for traditional concentrated dairy products.

Production concentrated or sweetened milk and cream in Caribbean

In kind, 2017-2020, t

Top producers of concentrated or sweetened milk and cream, 2017-2020

World map of production of concentrated or sweetened milk and cream, 2017-2020

Caribbean production of concentrated or sweetened milk and cream has declined for the third year in a row. In 2020, output reached 9 228 tonnes, marking a 6.1% decrease from the previous year. Over the 2017-2020 period, production fell by 29%, with a compound annual growth rate of -10.8%.

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

Exports concentrated or sweetened milk and cream from Caribbean

Exports in kind, K t

Export volumes showed significant volatility during the observed period. In 2018, exports hit their lowest point at 0.9 thousand tonnes, then surged to a peak of 2.6 thousand tonnes in 2019—a 189.9% increase that represented a 2.9-fold variation between these years. By 2020, exports dropped to 1.7 thousand tonnes, reflecting a 37.3% year-over-year decline.

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

From 2017 to 2020, the geographical distribution of exports in kind was highly diversified. Venezuela accounted for 9.8% of exports, the United States for 9.3%, and Belize for 4.3%, with these three countries together making up just 23.4% of total flows. The remaining 76.6% was spread across numerous smaller trading 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

Export values exhibited notable volatility over the period. In 2018, they reached a minimum of 3.8 million US dollars, then jumped to a maximum of 9.5 million US dollars in 2019—a 149.6% increase that resulted in a 2.5-fold variation. By 2020, exports fell to 4.4 million US dollars, showing a sharp contraction of 53.9% compared to the previous year. The largest decline occurred in 2018, at 56.0%.

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

The partner structure of exports in value terms from 2017 to 2020 remained fragmented. Venezuela represented 19.2% of exports, the United States 8.4%, and France 2.4%, with these three countries together accounting for only 30.0% of total flows. No single country held a dominant share.

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

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

Imports concentrated or sweetened milk and cream to Caribbean

Imports in kind, K t

In 2020, Caribbean imports of concentrated or sweetened milk and cream amounted to 174.5 thousand tonnes, up 4.2% from 2019. The minimum volume was recorded in 2019 at 167.5 thousand tonnes, while the maximum was in 2018 at 178.9 thousand tonnes. The largest decline occurred in 2019, at 6.4%.

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

Between 2017 and 2020, Caribbean imports of concentrated or sweetened milk and cream came from many countries. Even the largest sources—Peru, the Netherlands, and New Zealand—together represented only 46.8% of total imports in kind.

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

After two years of decreases, Caribbean imports of concentrated or sweetened milk and cream rose in 2020, totalling 449.6 million US dollars—a limited gain of 9.6% year-over-year. Over the 2017-2020 period, imports increased by 5.8%, with a compound annual growth rate of 1.9%. The minimum value was recorded in 2019 at 410.1 million US dollars, when the largest decline of 3.1% occurred.

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

From 2017 to 2020, imports in value terms of concentrated or sweetened milk and cream to the Caribbean were not heavily concentrated. New Zealand accounted for 13.5% of imports, the Netherlands for 12.8%, and Peru for 12.5%, with these three countries together capturing only 38.8% of total flows.

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

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