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This report highlights the food processing industry, its drivers, key players, and market landscape in the Caribbean Basin. The region relies heavily on imports, and the United States is the largest supplier of food ingredients.

Malaysia's food processing sector continues to be an attractive destination for U.S. food ingredients. Food and beverage manufacturing remain priority areas of economic growth for Malaysia and have boasted solid performance in the past several years.

The United States is a major trading partner with the Dominican Republic (DR). The DR is the largest economy in the Caribbean and the seventh-largest economy in Latin America. Since the Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) went into effect for the DR in 2007, U.S. agricultural exports to the DR have increased from $1 billion in 2007 to $2 billion in 2024.

After strong growth in 2023, the food retail sector is expected to see moderate but positive growth in the remainder of 2024. Expansion of convenience stores and small format retail outlets continues, while premium supermarkets have also expanded.

In the Caribbean region, sales value in the retail grocery sector increased by 3 percent in 2023. This is due in part to the rise in tourism in many markets, which is boosting economic growth. The largest grocery retail markets are Trinidad and Tobago, Guadeloupe, and the Bahamas.

The Malaysian food and beverage manufacturing industry is a significant sector in Malaysia’s economic expansion for both the domestic and export market. This sector includes several multinational corporation facilities as well as a range of local company operations.

Malaysia was the 26th-largest export destination for U.S. agricultural products in 2022, totaling nearly $1.1 billion in value, and is a top prospect for exports of food and beverage ingredients because of its large and growing food processing industry.

Sales in the Caribbean retail grocery sector decreased by 1.7 percent in 2022, primarily as the result of closing retail outlets in the French West Indies.

Malaysia’s retail sales are projected to grow to US$1.8 billion in 2023. The Malaysian food and beverage retail market is a competitive landscape and is highly fragmented.

The Malaysian food manufacturing and processing industry is an important component of the country’s economic growth and has seen significant development and innovation for shelf stable products as consumer demands increase.

The Malaysian food manufacturing and processing industry is an important component of the country’s economic growth and has seen significant development and innovation for shelf stable products as consumer demands increase. This sector includes several multinational corporation facilities as well as a range of local company operations.

Malaysia was the 25th largest export destination for U.S. agricultural products in 2021 and is a top prospect for exports of food and beverage ingredients because of its large and growing food processing industry. Food and beverages manufactured in Malaysia not only serve domestic consumers but are also exported to many neighboring countries. U.S. exporters of dairy products, fresh and processed potatoes, food-grade soy, processed fruit and juices, tree nuts and more have many opportunities to supply Malaysian industry which depends on imports for key ingredients and inputs, and in doing so will reach consumers across Malaysia and throughout Southeast Asia.