Report Update Nov 1, 2024

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

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Cuba: Cosmetics Market 2024

Cosmetics Market Size in Cuba

In 2021, the Cuban cosmetics market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, saw a abrupt contraction. Cosmetics consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Cosmetics Exports

Exports from Cuba

In 2021, the amount of cosmetics exported from Cuba skyrocketed to X tons, growing by 64% compared with 2020. Over the period under review, exports, however, saw a deep slump. The pace of growth was the most pronounced in 2015 with an increase of 158% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, cosmetics exports contracted to $X in 2021. Overall, exports, however, continue to indicate a mild contraction. The pace of growth appeared the most rapid in 2019 with an increase of 103% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Angola (X kg) was the main destination for cosmetics exports from Cuba, accounting for a 32% share of total exports. Moreover, cosmetics exports to Angola exceeded the volume sent to the second major destination, Turkey (X kg), twofold. Venezuela (X kg) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Angola totaled +20.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-11.0% per year) and Venezuela (-4.2% per year).

In value terms, Angola ($X), Turkey ($X) and the Dominican Republic ($X) were the largest markets for cosmetics exported from Cuba worldwide, together accounting for 65% of total exports. Venezuela, Mexico and Nicaragua lagged somewhat behind, together comprising a further 16%.

Venezuela, with a CAGR of +21.1%, saw 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

In 2021, the average cosmetics export price amounted to $X per ton, reducing by -42.6% against the previous year. Overall, the export price, however, recorded prominent growth. The growth pace was the most rapid in 2017 when the average export price increased by 219% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, 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 Mexico (+32.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cosmetics Imports

Imports into Cuba

In 2021, after six years of decline, there was significant growth in supplies from abroad of cosmetics, when their volume increased by 96% to X tons. Over the period under review, imports, however, recorded a noticeable shrinkage. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, cosmetics imports soared to $X in 2021. Overall, imports, however, continue to indicate a perceptible slump. The pace of growth was the most pronounced in 2017 when imports increased by 68%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of cosmetics to Cuba, accounting for a 34% share of total imports. Moreover, cosmetics imports from Spain exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fourfold. Panama (X tons) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume from Spain amounted to +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+1.2% per year) and Panama (-19.6% per year).

In value terms, the largest cosmetics suppliers to Cuba were Spain ($X), Panama ($X) and Mexico ($X), with a combined 51% share of total imports.

Among the main suppliers, Spain, with a CAGR of +4.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average cosmetics import price stood at $X per ton in 2021, with a decrease of -27.8% against the previous year. Overall, the import price saw a mild downturn. The most prominent rate of growth was recorded in 2017 when the average import price increased by 117%. 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, amid the top importers, the country with the highest price was the Dominican Republic ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+7.6%), 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 cosmetics in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together accounting for 42% of global consumption. Japan, Russia, Brazil, Indonesia, Mexico, Hong Kong SAR, France, the UK and South Korea lagged somewhat behind, together comprising a further 27%.

What are the largest producers of cosmetics in the world?

China remains the largest cosmetics producing country worldwide, accounting for 21% of total volume. Moreover, cosmetics production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. India ranked third in terms of total production with an 8.6% share.

What are the leading suppliers of cosmetics to Cuba?

In value terms, Spain constituted the largest supplier of cosmetics to Cuba, comprising 51% of total imports. The second position in the ranking was occupied by Mexico, with a 22% share of total imports. It was followed by France, with a 7.1% share.

What are the leading importers of cosmetics from Cuba?

In value terms, Turkey remains the key foreign market for cosmetics exports from Cuba, comprising 52% of total exports. The second position in the ranking was occupied by the Dominican Republic, with a 24% share of total exports. It was followed by Mexico, with a 7.4% share.

What is the average export price for cosmetics in Cuba?

In 2021, the average cosmetics export price amounted to $23,975 per ton, standing approx. at the previous year.

What is the average import price for cosmetics in Cuba?

The average cosmetics import price stood at $6,500 per ton in 2021, waning by -26.4% against the previous year.

This report provides an in-depth analysis of the cosmetics 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 20421250 - Lip make-up preparations
Prodcom 20421270 - Eye make-up preparations
Prodcom 20421300 - Manicure or pedicure preparations
Prodcom 20421400 - Powders, whether or not compressed, for cosmetic use (including talcum powder)
Prodcom 20421500 - Beauty, make-up and skin care preparations including suntan (excluding medicaments, lip and eye make-up, manicure and pedicure preparations, powders for cosmetic use and talcum powder)

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