Cuba: Sugary Soft Drink Market 2024

Sugary Soft Drink Market Size in Cuba

The Cuban sugary soft drink market amounted to $X in 2021, with an increase of 15% against the previous year. In general, the total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -11.2% against 2019 indices. Sugary soft drink consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Sugary Soft Drink Production in Cuba

In value terms, sugary soft drink production skyrocketed to $X in 2021 estimated in export price. In general, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -13.2% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 36% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Sugary Soft Drink Exports

Exports from Cuba

For the third year in a row, Cuba recorded growth in shipments abroad of sugary soft drinks, which increased by 99% to X litres in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 124% 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, sugary soft drink exports skyrocketed to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X litres) was the main destination for sugary soft drink exports from Cuba, with a 46% share of total exports. Moreover, sugary 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 rate of growth in terms of volume to Germany amounted to +44.2%. 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 ($X) emerged as the key foreign market for sugary soft drink exports from Cuba, comprising 47% of total exports. The second position in the ranking was held by the Dominican Republic ($X), with a 22% share of total exports. It was followed by Switzerland, with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to +23.4%. 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 sugary soft drink export price amounted to $X per litre, approximately equating the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 115%. Over the period under review, the average export prices hit record highs at $X per litre in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the Dominican Republic ($X per litre), while the average price for exports to Canada ($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 (+32.3%), while the prices for the other major destinations experienced more modest paces of growth.

Sugary Soft Drink Imports

Imports into Cuba

In 2021, supplies from abroad of sugary soft drinks was finally on the rise to reach X litres after two years of decline. Over the period under review, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by 203% against the previous year. Imports peaked at X litres in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, sugary soft drink imports skyrocketed to $X in 2021. In general, imports continue to indicate a buoyant expansion. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Mexico (X litres), the Netherlands (X litres) and Guatemala (X litres) were the main suppliers of sugary soft drink imports to Cuba, with a combined 80% share of total imports. These countries were followed by Austria, Turkey, Germany, Argentina and Poland, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were in Germany (with a CAGR of +98.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), the Netherlands ($X) and Austria ($X) constituted the largest sugary soft drink suppliers to Cuba, with a combined 84% share of total imports. Guatemala, Germany, Argentina, Turkey and Poland lagged somewhat behind, together accounting for a further 10%.

Among the main suppliers, Germany, with a CAGR of +76.7%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the average sugary soft drink import price amounted to $X per litre, increasing by 20% against the previous year. Overall, the import price recorded slight growth. Over the period under review, average import prices reached the peak figure at $X per litre in 2015; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 mixed trend patterns.

Source: IndexBox Platform

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