Cuba: Confectionery Market 2024

Confectionery Market Size in Cuba

The Cuban confectionery market declined to $X in 2022, waning by -9.7% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Confectionery Production in Cuba

In value terms, confectionery production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 29% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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Confectionery Exports

Exports from Cuba

In 2022, exports of confectionery from Cuba fell sharply to X tons, with a decrease of -44.3% on the previous year's figure. In general, exports recorded a mild setback. The most prominent rate of growth was recorded in 2019 with an increase of 134%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, confectionery exports declined rapidly to $X in 2022. Over the period under review, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 162% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for confectionery exports from Cuba, accounting for a 25% share of total exports. It was followed by Germany (X tons), with a 0.4% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Spain totaled -5.8%.

In value terms, Spain ($X) emerged as the key foreign market for confectionery exports from Cuba, comprising 24% of total exports. The second position in the ranking was taken by Germany ($X), with a 2.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Spain stood at -9.2%.

Export Prices by Country

The average confectionery export price stood at $X per ton in 2022, with a decrease of -36.8% against the previous year. In general, the export price showed a perceptible contraction. The most prominent rate of growth was recorded in 2014 an increase of 42%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Spain totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+77.2%), while the prices for the other major destinations experienced mixed trend patterns.

Confectionery Imports

Imports into Cuba

In 2022, supplies from abroad of confectionery increased by 49% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 55% against the previous year. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, confectionery imports surged to $X in 2022. Over the period under review, imports, however, recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of 94% against the previous year. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest confectionery supplier to Cuba, with a 16% share of total imports. Moreover, confectionery imports from Spain exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. Colombia (X tons) ranked third in terms of total imports with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain stood at +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-13.5% per year) and Colombia (+7.4% per year).

In value terms, Spain ($X) constituted the largest supplier of confectionery to Cuba, comprising 16% of total imports. The second position in the ranking was held by the United States ($X), with a 7% share of total imports. It was followed by Italy, with a 2% share.

From 2012 to 2022, the average annual growth rate of value from Spain amounted to +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+7.6% per year) and Italy (+7.0% per year).

Import Prices by Country

The average confectionery import price stood at $X per ton in 2022, standing approx. at the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 25% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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