Cuba: Soft Drink Market 2024

Soft Drink Market Size in Cuba

After two years of decline, the Cuban soft drink market increased by 19% to $X in 2021. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Soft Drink Production in Cuba

In value terms, soft drink production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 48%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Soft Drink Exports

Exports from Cuba

In 2021, shipments abroad of soft drinks increased by 95% to X litres, rising for the second consecutive year after two years of decline. In general, exports, however, recorded a drastic downturn. The growth pace was the most rapid in 2016 when exports increased by 117% against the previous year. The exports peaked at X litres in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, soft drink exports surged to $X in 2021. Over the period under review, exports, however, faced a drastic downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X litres) was the main destination for soft drink exports from Cuba, with a 46% share of total exports. Moreover, soft drink exports to Germany exceeded the volume sent to the second major destination, Canada (X litres), twofold. Switzerland (X litres) ranked third in terms of total exports with a 19% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +20.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+98.4% per year) and Switzerland (+7.8% per year).

In value terms, Germany ($X) emerged as the key foreign market for soft drink exports from Cuba, comprising 46% of total exports. The second position in the ranking was held by the Dominican Republic ($X), with a 21% share of total exports. It was followed by Switzerland, with a 19% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+72.5% per year) and Switzerland (+8.1% per year).

Export Prices by Country

In 2021, the average soft drink export price amounted to $X per litre, dropping by -3.2% against the previous year. In general, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2015 when the average export price increased by 99% against the previous year. Over the period under review, the average export prices reached the maximum at $X per litre in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (+23.3%), while the prices for the other major destinations experienced more modest paces of growth.

Soft Drink Imports

Imports into Cuba

Soft drink imports into Cuba surged to X litres in 2021, with an increase of 57% compared with 2020. In general, imports recorded a prominent increase. The growth pace was the most rapid in 2016 with an increase of 66%. Over the period under review, imports hit record highs at X litres in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, soft drink imports surged to $X in 2021. Over the period under review, imports continue to indicate a remarkable increase. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

The Netherlands (X litres), Spain (X litres) and Mexico (X litres) were the main suppliers of soft drink imports to Cuba, together comprising 82% of total imports.

From 2012 to 2021, the biggest increases were in the Netherlands (with a CAGR of +62.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of soft drink to Cuba, comprising 46% of total imports. The second position in the ranking was taken by Spain ($X), with a 21% share of total imports. It was followed by Mexico, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands stood at +56.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+58.6% per year) and Mexico (+5.5% per year).

Import Prices by Country

The average soft drink import price stood at $X per litre in 2021, increasing by 8.5% against the previous year. Over the period under review, the import price, however, continues to indicate a mild decrease. The growth pace was the most rapid in 2013 an increase of 16% against the previous year. As a result, import price reached the peak level of $X per litre. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Austria ($X per litre), while the price for Turkey ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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