Report Update Nov 1, 2024

Cuba - Sparkling Wine - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Sparkling Wine Market 2024

Sparkling Wine Exports

Exports from Cuba

In 2022, shipments abroad of sparkling wine increased by 10% to X litres for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 740%. As a result, the exports reached the peak of X litres. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, sparkling wine exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a pronounced downturn. The growth pace was the most rapid in 2013 with an increase of 1,016% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Qatar (X litres) was the main destination for sparkling wine exports from Cuba, with a 93% share of total exports. Moreover, sparkling wine exports to Qatar exceeded the volume sent to the second major destination, Maldives (X litres), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Qatar totaled -5.7%.

In value terms, Qatar ($X) remains the key foreign market for sparkling wine exports from Cuba, comprising 87% of total exports. The second position in the ranking was held by Maldives ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Qatar stood at -2.9%.

Export Prices by Country

The average sparkling wine export price stood at $X per litre in 2022, rising by 18% against the previous year. Overall, export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sparkling wine export price decreased by -20.5% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 33% against the previous year. The export price peaked at $X per litre in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($X per litre), while the average price for exports to Qatar totaled $X per litre.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (+14.3%).

Sparkling Wine Imports

Imports into Cuba

In 2022, after two years of decline, there was significant growth in supplies from abroad of sparkling wine, when their volume increased by 13% to X litres. Over the period under review, imports enjoyed a modest expansion. The pace of growth appeared the most rapid in 2016 with an increase of 56%. Imports peaked at X litres in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, sparkling wine imports rose markedly to $X in 2022. In general, imports posted a perceptible expansion. The pace of growth was the most pronounced in 2016 when imports increased by 90%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X litres) constituted the largest sparkling wine supplier to Cuba, with a 46% share of total imports. Moreover, sparkling wine imports from Spain exceeded the figures recorded by the second-largest supplier, Panama (X litres), more than tenfold. The third position in this ranking was taken by Chile (X litres), with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain amounted to -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+24.4% per year) and Chile (+7.0% per year).

In value terms, Spain ($X) constituted the largest supplier of sparkling wine to Cuba, comprising 40% of total imports. The second position in the ranking was held by France ($X), with a 6.5% share of total imports. It was followed by Panama, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value from Spain stood at -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-3.4% per year) and Panama (+31.2% per year).

Import Prices by Country

The average sparkling wine import price stood at $X per litre in 2022, shrinking by -5.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2016 when the average import price increased by 22% against the previous year. The import price peaked at $X per litre in 2021, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per litre), while the price for Spain ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+16.6%), 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 sparkling wine in the world?

The countries with the highest volumes of sparkling wine consumption in 2021 were the United States, India and the UK, with a combined 44% share of global consumption.

What are the largest producers of sparkling wine in the world?

The country with the largest volume of sparkling wine production was Italy, accounting for 29% of total volume. Moreover, sparkling wine production in Italy exceeded the figures recorded by the second-largest producer, France, twofold. The third position in this ranking was occupied by India, with a 14% share.

What are the leading suppliers of sparkling wine to Cuba?

In value terms, Spain, France and Panama constituted the largest sparkling wine suppliers to Cuba, together comprising 92% of total imports.

What are the leading importers of sparkling wine from Cuba?

In value terms, Qatar remains the key foreign market for sparkling wine exports from Cuba.

What is the average export price for sparkling wine in Cuba?

In 2021, the average sparkling wine export price amounted to $12 per litre, shrinking by -16.8% against the previous year.

What is the average import price for sparkling wine in Cuba?

In 2021, the average sparkling wine import price amounted to $3.5 per litre, surging by 2.3% against the previous year.

This report provides an in-depth analysis of the sparkling wine 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 11021130 - Champagne (important: excluding alcohol duty)
Prodcom 11021190 - Sparkling wine from fresh grapes (excluding champagne, a lcohol duty)

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