Grocery market in Belize

The Belizean Grocery eCommerce market is predicted to reach US$1.9 million by 2024 and accounts for 5.9% of the total eCommerce market in Belize. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 16.1%, resulting in a projected market volume of US$3.5 million by 2028. Within the Grocery market ECDB considers the following two sub-markets: Food and Beverages.

Market development

eCommerce revenue development in the Food Cupboard market in Belize

The Belizean Food Cupboard eCommerce market is predicted to reach US$0.3 million by 2024 and accounts for 24.6% of the Food eCommerce market in Belize. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 17.5%, resulting in a projected market volume of US$0.6 million by 2028. The Food Cupboard eCommerce market is a sub-market of the Food market. Further categories within the Food market are: Baked Goods, Fresh Food, Frozen Food, and Meal Kits.

eCommerce revenue development in the Food Cupboard market in Belize

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Food Cupboard market in Belize

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)27.093.479.547.935.669.970.840.2

Online share

eCommerce online share of the total Food Cupboard market in Belize

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Belizean Food Cupboard retail market, the online share is 5.7% and will increase by an average of 22.3% to 12.8% by 2028.

eCommerce online share of the total Food Cupboard market in Belize

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)34.8%38.3%82.6%84.7%51.7%40.8%29.4%36.3%

Market definition

Definition of the Food Cupboard market within the Grocery market

Market definition: Grocery > Food > Food Cupboard The category Food Cupboard includes the online trade of noodles, cereals, sweets and chocolate, and more. This category does not cover fresh food and frozen food. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Noodles
  • Cereals
  • Sweets and chocolate
  • Nuts and dried fruits
  • Baking supplies

Out-of-scope

  • Fresh food
  • Frozen food

Market comparison

The Belizean Food Cupboard market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis

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