Cuba: Soap In Bars Market 2024

Soap In Bars Market Size in Cuba

The Cuban soap in bars market contracted to $X in 2021, with a decrease of -8.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -11.8% against 2018 indices. Soap in bars consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Soap In Bars Exports

Exports from Cuba

For the third consecutive year, Cuba recorded growth in overseas shipments of soap and organic surface-active products in bars, which increased by 2.8% to X tons in 2021. Over the period under review, exports showed a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 605% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, soap in bars exports dropped remarkably to $X in 2021. Overall, exports enjoyed significant growth. The pace of growth was the most pronounced in 2020 with an increase of 819%. As a result, the exports attained the peak of $X, and then dropped markedly in the following year.

Exports by Country

Turkey (X tons) was the main destination for soap in bars exports from Cuba, with a approx. 6.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey was relatively modest.

In value terms, Turkey ($X) emerged as the key foreign market for soap and organic surface-active products in bars exports from Cuba.

From 2012 to 2021, the average annual growth rate of value to Turkey was relatively modest.

Export Prices by Country

In 2021, the average soap in bars export price amounted to $X per ton, waning by -51.6% against the previous year. Overall, the export price, however, posted mild growth. The growth pace was the most rapid in 2018 when the average export price increased by 127%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2021, the rate of growth in terms of prices for Angola amounted to -24.7% per year.

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Soap In Bars Imports

Imports into Cuba

In 2021, approx. X tons of soap and organic surface-active products in bars were imported into Cuba; which is down by -10.3% compared with the previous year's figure. In general, imports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2013 when imports increased by 75% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020, and then dropped in the following year.

In value terms, soap in bars imports contracted to $X in 2021. Over the period under review, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -12.1% against 2018 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 40%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Colombia (X tons), Italy (X tons) and Mexico (X tons) were the main suppliers of soap in bars imports to Cuba, together comprising 47% of total imports. These countries were followed by Turkey, India, Brazil, Costa Rica, Spain, Ecuador, Guatemala, China and Indonesia, which together accounted for a further 27%.

From 2012 to 2021, the biggest increases were recorded for Costa Rica (with a CAGR of +121.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest soap in bars suppliers to Cuba were Italy ($X), Colombia ($X) and Mexico ($X), with a combined 50% share of total imports. Spain, Turkey, Brazil, China, Ecuador, Guatemala, Costa Rica, India and Indonesia lagged somewhat behind, together comprising a further 22%.

In terms of the main suppliers, Costa Rica, with a CAGR of +66.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average soap in bars import price stood at $X per ton in 2021, with an increase of 4.7% against the previous year. Overall, the import price, however, continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2016 an increase of 32% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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