Report Update Nov 1, 2024

Cuba - Essential Oils - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Essential Oils Market 2024

Essential Oils Market Size in Cuba

The Cuban essential oils market expanded slightly to $X in 2021, increasing by 1.6% against the previous year. Over the period under review, consumption, however, enjoyed buoyant growth. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Essential Oils Production in Cuba

In value terms, essential oils production contracted to $X in 2021 estimated in export price. In general, production, however, continues to indicate strong growth. The growth pace was the most rapid in 2013 when the production volume increased by 159%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Essential Oils Exports

Exports from Cuba

In 2021, shipments abroad of essential oils increased by 5.5% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of 137%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, essential oils exports declined modestly to $X in 2021. Overall, exports, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of 113%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for essential oils exports from Cuba, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands stood at +61.0%.

In value terms, the Netherlands ($X) emerged as the key foreign market for essential oils exports from Cuba.

From 2012 to 2021, the average annual growth rate of value to the Netherlands totaled +79.7%.

Export Prices by Country

In 2021, the average essential oils export price amounted to $X per ton, shrinking by -7.4% against the previous year. In general, the export price, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2019 an increase of 178% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Spain amounted to +52.9% per year.

Essential Oils Imports

Imports into Cuba

In 2021, approx. X tons of essential oils were imported into Cuba; with an increase of 230% against the previous year's figure. Overall, imports, however, continue to indicate a deep slump. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, essential oils imports expanded to $X in 2021. In general, imports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2015 with an increase of 141% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X tons) was the main essential oils supplier to Cuba, with a 97% share of total imports. It was followed by France (X tons), with a 3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain stood at -5.1%.

In value terms, Spain ($X) constituted the largest supplier of essential oils to Cuba, comprising 85% of total imports. The second position in the ranking was held by France ($X), with a 15% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain totaled -4.9%.

Import Prices by Country

In 2021, the average essential oils import price amounted to $X per ton, which is down by -69% against the previous year. Over the period under review, the import price, however, recorded a temperate expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by 203% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank sharply in the following year.

Prices varied noticeably country of origin: the country with the highest price was France ($X per ton), while the price for Spain amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+5.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for essential oils in the world?

The countries with the highest volumes of in 2021 were China, the United States and Germany, together accounting for 40% of global consumption. These countries were followed by India, France, Russia, the UK, Indonesia, Ireland, Spain, Saudi Arabia, Mexico and Argentina, which together accounted for a further 31%.

What are the largest producers of essential oils in the world?

China remains the largest essential oils producing country worldwide, comprising approx. 23% of total volume. Moreover, essential oils production in China exceeded the figures recorded by the second-largest producer, Brazil, twofold. India ranked third in terms of total production with an 11% share.

What are the leading suppliers of essential oils to Cuba?

In value terms, Spain constituted the largest supplier of essential oils to Cuba.

What are the leading importers of essential oils from Cuba?

In value terms, the Netherlands remains the key foreign market for essential oils exports from Cuba.

What is the average export price for essential oils in Cuba?

The average essential oils export price stood at $6,150 per ton in 2021, waning by -75.6% against the previous year.

What is the average import price for essential oils in Cuba?

The average essential oils import price stood at $13,637 per ton in 2021, shrinking by -72.7% against the previous year.

This report provides an in-depth analysis of the essential oils 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 20531020 - Essential oils

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