Report Update Nov 1, 2024

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

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Cuba: Salt Market 2024

Salt Market Size in Cuba

The Cuban salt market soared to $X in 2021, with an increase of 17% against the previous year. Over the period under review, consumption saw a pronounced downturn. Salt consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Salt Production in Cuba

In value terms, salt production surged to $X in 2021 estimated in export price. In general, production, however, recorded a noticeable shrinkage. Salt production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Salt Exports

Exports from Cuba

In 2021, after four years of growth, there was significant decline in shipments abroad of salt and pure sodium chloride, when their volume decreased by -21.4% to X tons. Overall, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 2,236% against the previous year. As a result, the exports reached the peak of X tons, and then reduced markedly in the following year.

In value terms, salt exports shrank to $X in 2021. In general, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 840% against the previous year. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

Slovakia (X tons) was the main destination for salt exports from Cuba, accounting for a 85% share of total exports. Moreover, salt exports to Slovakia exceeded the volume sent to the second major destination, Guatemala (X tons), sixfold.

From 2012 to 2021, the average annual growth rate of volume to Slovakia was relatively modest.

In value terms, the largest markets for salt exported from Cuba were Canada ($X), Slovakia ($X) and Guatemala ($X).

Canada, with a CAGR of +20.3%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average salt export price stood at $X per ton in 2021, picking up by 11% against the previous year. Over the period under review, the export price, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2019 an increase of 20%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Slovakia ($X per ton), while the average price for exports to Guatemala amounted to $X per ton.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into Cuba

Salt imports into Cuba reduced notably to X tons in 2021, dropping by -34.2% compared with the previous year. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 366%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, salt imports reduced notably to $X in 2021. In general, imports, however, enjoyed a modest expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 320%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Spain (X tons), Ecuador (X tons) and Colombia (X tons) were the main suppliers of salt imports to Cuba, with a combined 69% share of total imports. These countries were followed by Germany, China, Russia, Canada, Italy and Chile, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were in Russia (with a CAGR of +103.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest salt suppliers to Cuba were Spain ($X), Germany ($X) and China ($X), with a combined 81% share of total imports.

In terms of the main suppliers, Spain, with a CAGR of +45.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average salt import price stood at $X per ton in 2021, standing approx. at the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2013 when the average import price increased by 26% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+18.0%), 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 salt and pure sodium chloride in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 48% share of global consumption.

What are the largest producers of salt and pure sodium chloride in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together accounting for 45% of global production. Mexico, Germany, Australia, Canada, Chile, Brazil, France, Turkey, the Netherlands and the UK lagged somewhat behind, together comprising a further 31%.

What are the leading suppliers of salt and pure sodium chloride to Cuba?

In value terms, Spain constituted the largest supplier of salt to Cuba, comprising 94% of total imports. The second position in the ranking was occupied by the Netherlands, with a 4.4% share of total imports.

What is the average import price for salt and pure sodium chloride in Cuba?

In 2021, the average salt import price amounted to $199 per ton, declining by -8.3% against the previous year.

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

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