Cuba: Market for Mineral or Aerated Waters 2024

Market Size for Mineral or Aerated Waters in Cuba

The Cuban mineral or aerated water market shrank modestly to $X in 2022, reducing by -2.1% against the previous year. Overall, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.1% against 2020 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Mineral or Aerated Waters in Cuba

In value terms, mineral or aerated water production contracted modestly to $X in 2022 estimated in export price. In general, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.7% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 94%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Exports of Mineral or Aerated Waters

Exports from Cuba

Mineral or aerated water exports from Cuba contracted rapidly to X tons in 2022, shrinking by -47.8% on the previous year. In general, exports continue to indicate a sharp reduction. The most prominent rate of growth was recorded in 2021 with an increase of 2,184% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, mineral or aerated water exports shrank remarkably to $X in 2022. Overall, exports continue to indicate a deep setback. The pace of growth appeared the most rapid in 2021 with an increase of 5,907%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Jamaica (X tons), the Dominican Republic (X tons) and Canada (X kg) were the main destinations of mineral or aerated water exports from Cuba.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of -3.3%), while the other leaders experienced a decline.

In value terms, Jamaica ($X), the Dominican Republic ($X) and Canada ($X) appeared to be the largest markets for mineral or aerated water exported from Cuba worldwide, together accounting for 91% of total exports.

Canada, with a CAGR of -5.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average mineral or aerated water export price amounted to $X per ton, which is down by -2.6% against the previous year. In general, the export price, however, recorded buoyant growth. The growth pace was the most rapid in 2021 an increase of 163% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Jamaica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Jamaica (+7.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Mineral or Aerated Waters

Imports into Cuba

In 2022, the amount of mineral or aerated waters imported into Cuba fell rapidly to X tons, shrinking by -18% compared with 2021 figures. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 115% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, mineral or aerated water imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a perceptible reduction. The pace of growth was the most pronounced in 2015 when imports increased by 110% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest mineral or aerated water supplier to Cuba, with a 18% share of total imports. Moreover, mineral or aerated water imports from Italy exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. Portugal (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy totaled -12.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+4.9% per year) and Portugal (+21.7% per year).

In value terms, Italy ($X) constituted the largest supplier of mineral or aerated waters to Cuba, comprising 18% of total imports. The second position in the ranking was taken by Spain ($X), with a 5.9% share of total imports. It was followed by Portugal, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy stood at -15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+0.8% per year) and Portugal (+10.4% per year).

Import Prices by Country

In 2022, the average mineral or aerated water import price amounted to $X per ton, surging by 53% against the previous year. Overall, the import price, however, recorded a pronounced slump. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+23.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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