Cuba: Lip Make-Up Preparations Market 2022

Lip Make-Up Preparations Market Size in Cuba

In 2021, the Cuban lip make-up preparations market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, showed a deep slump. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Lip Make-Up Preparations Exports

Exports from Cuba

In 2021, shipments abroad of lip make-up preparations decreased by -40.3% to X kg, falling for the fourth consecutive year after three years of growth. Overall, exports faced a abrupt decrease. The pace of growth appeared the most rapid in 2017 with an increase of 524% against the previous year. As a result, the exports reached the peak of X kg. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, lip make-up preparations exports fell remarkably to $X in 2021. Over the period under review, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2017 when exports increased by 345%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mexico (X kg) was the main destination for lip make-up preparations exports from Cuba, with a 70% share of total exports. Moreover, lip make-up preparations exports to Mexico exceeded the volume sent to the second major destination, the Dominican Republic (X kg), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico totaled +20.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (-22.7% per year) and Angola (-4.4% per year).

In value terms, Mexico ($X) remains the key foreign market for lip make-up preparations exports from Cuba, comprising 81% of total exports. The second position in the ranking was taken by the Dominican Republic ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Mexico stood at +32.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (-23.3% per year) and Angola (-20.1% per year).

Export Prices by Country

The average lip make-up preparations export price stood at $X per ton in 2021, shrinking by -2.9% against the previous year. Over the period under review, the export price, however, posted prominent growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 53%. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Mexico ($X per ton), while the average price for exports to Angola ($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 Nicaragua (+204.6%), while the prices for the other major destinations experienced mixed trend patterns.

Lip Make-Up Preparations Imports

Imports into Cuba

In 2021, supplies from abroad of lip make-up preparations was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, showed a abrupt slump. The growth pace was the most rapid in 2015 with an increase of 305% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, lip make-up preparations imports surged to $X in 2021. Overall, imports, however, showed a abrupt shrinkage. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Mexico (X kg), China (X kg) and Spain (X kg) were the main suppliers of lip make-up preparations imports to Cuba, together comprising 52% of total imports. These countries were followed by Poland, Guatemala, Turkey, Trinidad and Tobago, the Dominican Republic and Panama, which together accounted for a further 42%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Trinidad and Tobago (with a CAGR of +36.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Poland ($X), Spain ($X) and Mexico ($X) were the largest lip make-up preparations suppliers to Cuba, with a combined 66% share of total imports. Trinidad and Tobago, Turkey, the Dominican Republic, Guatemala, China and Panama lagged somewhat behind, together comprising a further 23%.

Trinidad and Tobago, with a CAGR of +64.0%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average lip make-up preparations import price stood at $X per ton in 2021, dropping by -8.3% against the previous year. Overall, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lip make-up preparations import price increased by +6.9% against 2019 indices. The pace of growth was the most pronounced in 2014 when the average import price increased by 53% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+31.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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