Cuba: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in Cuba

The Cuban chocolate and confectionery market skyrocketed to $X in 2021, growing by 31% against the previous year. In general, consumption continues to indicate modest growth. Chocolate and confectionery consumption peaked at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Chocolate And Confectionery Production in Cuba

In value terms, chocolate and confectionery production surged to $X in 2021 estimated in export price. In general, the total production indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -30.3% against 2016 indices. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Chocolate And Confectionery Exports

Exports from Cuba

In 2021, approx. X tons of chocolate and confectionery were exported from Cuba; growing by 35% compared with 2020 figures. Overall, exports posted a mild expansion. The most prominent rate of growth was recorded in 2019 with an increase of 133% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, chocolate and confectionery exports surged to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 165%. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons), Spain (X tons) and Germany (X tons) were the main destinations of chocolate and confectionery exports from Cuba, together comprising 99.9% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of -1.3%), while the other leaders experienced a decline.

In value terms, the Netherlands ($X), Spain ($X) and Germany ($X) were the largest markets for chocolate and confectionery exported from Cuba worldwide, with a combined 99.9% share of total exports.

In terms of the main countries of destination, Spain, with a CAGR of -6.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average chocolate and confectionery export price amounted to $X per ton, dropping by -5.9% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 42%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+77.1%), while the prices for the other major destinations experienced mixed trend patterns.

Chocolate And Confectionery Imports

Imports into Cuba

For the third consecutive year, Cuba recorded decline in supplies from abroad of chocolate and confectionery, which decreased by -14.6% to X tons in 2021. Overall, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 when imports increased by 43%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, chocolate and confectionery imports soared to $X in 2021. Over the period under review, imports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2016 when imports increased by 62% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of chocolate and confectionery to Cuba, accounting for a 48% share of total imports. Moreover, chocolate and confectionery imports from Spain exceeded the figures recorded by the second-largest supplier, Panama (X tons), threefold. The third position in this ranking was held by Ecuador (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain totaled +19.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+15.1% per year) and Ecuador (-2.3% per year).

In value terms, Spain ($X) constituted the largest supplier of chocolate and confectionery to Cuba, comprising 50% of total imports. The second position in the ranking was taken by Panama ($X), with a 20% share of total imports. It was followed by Ecuador, with a 7% share.

From 2012 to 2021, the average annual growth rate of value from Spain amounted to +19.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+10.4% per year) and Ecuador (-6.5% per year).

Import Prices by Country

In 2021, the average chocolate and confectionery import price amounted to $X per ton, picking up by 40% against the previous year. Overall, the import price, however, recorded a mild decline. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Mexico ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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