Report Update Nov 1, 2024

Cuba - Butter - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Butter Market 2024

Butter Market Size in Cuba

In 2021, the Cuban butter market was finally on the rise to reach $X after three years of decline. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Butter Production in Cuba

In value terms, butter production expanded markedly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced setback. The pace of growth appeared the most rapid in 2017 when the production volume increased by 23% against the previous year. Butter production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Butter Imports

Imports into Cuba

In 2021, purchases abroad of butter increased by 98% to X tons, rising for the second year in a row after four years of decline. Over the period under review, imports, however, showed a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, butter imports surged to $X in 2021. In general, imports posted a moderate expansion. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Spain (X tons), Belgium (X tons) and Poland (X tons) were the main suppliers of butter imports to Cuba, with a combined 92% share of total imports.

From 2012 to 2021, the biggest increases were in Spain (with a CAGR of +97.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of butter to Cuba, comprising 50% of total imports. The second position in the ranking was taken by Poland ($X), with a 21% share of total imports. It was followed by Belgium, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain totaled +89.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+15.5% per year) and Belgium (+7.8% per year).

Import Prices by Country

The average butter import price stood at $X per ton in 2021, leveling off at the previous year. Over the last nine-year period, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2017 an increase of 34% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then contracted in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+36.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for butter in the world?

The countries with the highest volumes of butter consumption in 2021 were the United States, Germany and France, with a combined 34% share of global consumption. Russia, New Zealand, Turkey, Iran, the UK, China, Poland, Canada, Brazil and Italy lagged somewhat behind, together accounting for a further 34%.

What are the largest producers of butter in the world?

The countries with the highest volumes of butter production in 2021 were the United States, New Zealand and Germany, with a combined 34% share of global production. These countries were followed by France, Ireland, Russia, Turkey, Iran, Poland, the Netherlands, the UK, Belarus and Canada, which together accounted for a further 36%.

What are the leading suppliers of butter to Cuba?

In value terms, Spain constituted the largest supplier of butter to Cuba, comprising 50% of total imports. The second position in the ranking was occupied by Poland, with a 21% share of total imports. It was followed by Belgium, with a 17% share.

What is the average import price for butter in Cuba?

In 2021, the average butter import price amounted to $5,277 per ton, rising by 1.5% against the previous year.

This report provides an in-depth analysis of the butter market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 886 - Butter of Cow Milk

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023