Report Update Nov 1, 2024

Cuba - Chocolate and Cocoa Products - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Chocolate Market 2022

Chocolate Market Size in Cuba

The Cuban chocolate market declined modestly to $X in 2021, dropping by -3.8% against the previous year. Over the period under review, consumption, however, showed strong growth. Chocolate consumption peaked at $X in 2020, and then dropped modestly in the following year.

Chocolate Production in Cuba

In value terms, chocolate production declined to $X in 2021 estimated in export price. Overall, production, however, showed a significant increase. The growth pace was the most rapid in 2016 with an increase of 188% against the previous year. Chocolate production peaked at $X in 2020, and then declined in the following year.

Chocolate Exports

Exports from Cuba

In 2021, after four years of growth, there was decline in overseas shipments of chocolate and cocoa products, when their volume decreased by -2.3% to X tons. In general, exports, however, saw a modest expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 104%. The exports peaked at X tons in 2020, and then fell in the following year.

In value terms, chocolate exports reduced to $X in 2021. Overall, exports, however, recorded notable growth. The pace of growth appeared the most rapid in 2019 with an increase of 97%. Over the period under review, the exports attained the peak figure at $X in 2020, and then reduced in the following year.

Exports by Country

Germany (X tons) and Canada (X tons) were the main destinations of chocolate exports from Cuba.

From 2012 to 2021, the biggest increases were in Germany (with a CAGR of +10.2%).

In value terms, Germany ($X) remains the key foreign market for chocolate exports from Cuba, comprising 91% of total exports. The second position in the ranking was taken by Canada ($X), with an 8.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +13.8%.

Export Prices by Country

In 2021, the average chocolate export price amounted to $X per ton, remaining constant against the previous year. Overall, the export price recorded slight growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by 61% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Angola (+82.7%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Cuba

In 2021, after two years of decline, there was significant growth in overseas purchases of chocolate and cocoa products, when their volume increased by 109% to X tons. In general, imports, however, recorded a deep reduction. The pace of growth appeared the most rapid in 2016 with an increase of 136%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, chocolate imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2016 when imports increased by 137%. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of chocolate to Cuba, accounting for a 40% share of total imports. Moreover, chocolate imports from Spain exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fourfold. The third position in this ranking was held by Argentina (X tons), with an 8.8% share.

From 2012 to 2021, the average annual growth rate of volume from Spain amounted to +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-22.2% per year) and Argentina (-2.3% per year).

In value terms, Spain ($X) constituted the largest supplier of chocolate to Cuba, comprising 44% of total imports. The second position in the ranking was taken by Panama ($X), with an 11% share of total imports. It was followed by Mexico, with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (-1.6% per year) and Mexico (-21.1% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2021, picking up by 3.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 18% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+1.6%), 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 chocolate and cocoa products in the world?

The countries with the highest volumes of chocolate consumption in 2021 were China, the United States and Germany, with a combined 32% share of global consumption. Russia, Indonesia, Pakistan, Brazil, Bangladesh, Mexico, the UK, Nigeria, South Korea and France lagged somewhat behind, together comprising a further 24%.

What are the largest producers of chocolate and cocoa products in the world?

The countries with the highest volumes of chocolate production in 2021 were China, the United States and Germany, together accounting for 32% of global production. These countries were followed by Russia, Indonesia, Pakistan, Brazil, Mexico, Bangladesh, Italy, Nigeria, Belgium and Canada, which together accounted for a further 25%.

What are the leading suppliers of chocolate and cocoa products to Cuba?

In value terms, the largest chocolate suppliers to Cuba were Panama, Brazil and the United States, together accounting for 54% of total imports. These countries were followed by Spain, Mexico, Argentina and Guatemala, which together accounted for a further 31%.

What are the leading importers of chocolate and cocoa products from Cuba?

In value terms, Germany remains the key foreign market for chocolate exports from Cuba.

What is the average export price for chocolate and cocoa products in Cuba?

The average chocolate export price stood at $10,938 per ton in 2021, with a decrease of -1.8% against the previous year.

What is the average import price for chocolate and cocoa products in Cuba?

In 2021, the average chocolate import price amounted to $4,902 per ton, leveling off at the previous year.

This report provides an in-depth analysis of the chocolate 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:

Prodcom 10821400 - Cocoa powder, containing added sugar or other sweetening matter
Prodcom 10822130 - Chocolate and other food preparations containing cocoa, in blocks, slabs or bars > 2 kg or in liquid, paste, powder, g ranular or other bulk form, in containers or immediate packings of a content > 2 kg, containing . .18 % by weight of
Prodcom 10822150 - Chocolate milk crumb containing .18 % or more by weight of cocoa butter and in packings weighing > 2 kg
Prodcom 10822170 - Chocolate flavour coating containing .18 % or more by weight of cocoa butter and in packings weighing > 2 kg
Prodcom 10822190 - Food preparations containing <18 % of cocoa butter and in packings weighing > 2 kg (excluding chocolate flavour coating, chocolate milk crumb)
Prodcom 10822233 - Filled chocolate blocks, slabs or bars consisting of a centre (including of cream, liqueur or fruit paste, excluding chocolate biscuits)
Prodcom 10822235 - Chocolate blocks, slabs or bars with added cereal, fruit or nuts (excluding filled, chocolate biscuits)
Prodcom 10822239 - Chocolate blocks, slabs or bars (excluding filled, with added cereal, fruit or nuts, chocolate biscuits)
Prodcom 10822243 - Chocolates (including pralines) containing alcohol (excluding in blocks, slabs or bars)
Prodcom 10822245 - Chocolates (excluding those containing alcohol, in blocks, s labs or bars)
Prodcom 10822253 - Filled chocolate confectionery (excluding in blocks, slabs or bars, chocolate biscuits, chocolates)
Prodcom 10822255 - Chocolate confectionery (excluding filled, in blocks, slabs or bars, chocolate biscuits, chocolates)
Prodcom 10822260 - Sugar confectionery and substitutes therefor made from sugar substitution products, containing cocoa (including chocolate nougat) (excluding white chocolate)
Prodcom 10822270 - Chocolate spreads
Prodcom 10822280 - Preparations containing cocoa for making beverages
Prodcom 10822290 - Food products with cocoa (excluding cocoa paste, butter, p owder, blocks, slabs, bars, liquid, paste, powder, granular, o ther bulk form in packings > 2 kg, to make beverages, c hocolate spreads)

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