Euromonitor has indicated that the market size of the packaged food retail business in The Bahamas was US$427.7 million in 2020, an increase of 15.5% from 2016, or US$57.3 million. They also forecast growth of 15.6% to 2025, or another US$67.5 million
during the period for a total of US$499.6 million.
High growth categories in the forecast include:
- Cheese
- Baby Food
- Pet Food
- Processed Meat & Seafood
- Other Dairy Products
- Savory Snacks
- Sauces Dressings & Condiments
- Ready Meals
Post reports that the majority of supermarkets in The Bahamas are located in Nassau, on the island of New Providence, which is home to roughly 80% of the country’s population. Supermarkets are also located in Freeport on Grand Bahama Island.
Deli counters are present in most supermarkets, and a few supermarkets have bakeries and seafood departments. Although large-chain supermarkets are located in the populated areas, smaller independent grocers maintain a strong presence in the
market. While these retail outlets carry a more limited inventory than the larger supermarkets, they are conveniently located throughout the main islands of The Bahamas and typically offer products at lower prices and a wide selection of ethnic
condiments and spices.
Wholesale club stores in Nassau, Freeport, and Abaco are usually located in major shopping centers. These outlets carry a full line of food products in club and institutional-sized packs, in addition to apparel, appliances, and home furnishings.
Gas marts obtain practically all of their products from local importers/distributors. Seldom will convenience stores buy direct from overseas suppliers, as their limited product mix is usually readily available from local distributors.
The best method of targeting gas marts is through local distributors.
The Bahamas has a wide variety of products available. However, importers and consumers are always interested in new food and beverage alternatives. Although not present in large quantities, the health food trend has recently been on the rise in
the Bahamian food market. Some of the more affluent areas of The Bahamas, like Cable Beach, on New Providence Island, have witnessed a small surge in health and gourmet food stores openings. Supermarkets have widened their offerings of food
and beverages for the health-conscious consumer and tourist.
Best Product Prospects:
Post reports that market opportunities exist for practically all high/value consumer-oriented foods and beverages and seafood products in The Bahamas. In Pre-Covid 2019, the following product categories had record export levels: syrups and sweeteners,
processed vegetables and pulses, chocolate and confectionery, dog and cat food, baby food, snack foods, condiments and sauces, beer and wine and distilled spirits and other alcoholic beverages.