Report Update Nov 1, 2024

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

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Cuba: Vermouth Market 2024

Vermouth Market Size in Cuba

In 2021, the Cuban vermouth market decreased by -31.2% to $X, falling for the fifth consecutive year after three years of growth. In general, consumption saw a deep reduction. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Vermouth Exports

Exports from Cuba

In 2021, shipments abroad of vermouth decreased by 0% to X litres for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 9.4% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in years to come.

In value terms, vermouth exports amounted to $X in 2021. Overall, exports recorded resilient growth. The smallest decline of -5.3% was in 2013. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

Iceland (X litres) was the main destination for vermouth exports from Cuba, accounting for a approx. 100% share of total exports.

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

From 2012 to 2021, the average annual growth rate of value to Iceland was relatively modest.

Export Prices by Country

In 2021, the average vermouth export price amounted to $X per litre, remaining relatively unchanged against the previous year. Overall, the export price saw a pronounced reduction. The growth pace was the most rapid in 2013 a decrease of -13.4%. The export price peaked at $X per litre in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Iceland.

From 2012 to 2021, the rate of growth in terms of prices for Iceland amounted to 0.0% per year.

Vermouth Imports

Imports into Cuba

In 2021, supplies from abroad of vermouth decreased by -25.8% to X litres, falling for the fifth consecutive year after three years of growth. In general, imports saw a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 61% against the previous year. As a result, imports attained the peak of X litres. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, vermouth imports contracted rapidly to $X in 2021. Over the period under review, imports recorded a abrupt descent. The pace of growth was the most pronounced in 2016 with an increase of 82% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Panama (X litres), Brazil (X litres) and Spain (X litres) were the main suppliers of vermouth imports to Cuba, together accounting for 86% of total imports.

From 2012 to 2021, the biggest increases were in Brazil (with a CAGR of +9.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vermouth suppliers to Cuba were Panama ($X), Brazil ($X) and Spain ($X), with a combined 80% share of total imports.

In terms of the main suppliers, Brazil, with a CAGR of +11.3%, 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 a decline.

Import Prices by Country

The average vermouth import price stood at $X per litre in 2021, with a decrease of -5.2% against the previous year. In general, the import price saw a pronounced reduction. The most prominent rate of growth was recorded in 2014 an increase of 17% against the previous year. As a result, import price reached the peak level of $X per litre. From 2015 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, the country with the highest price was Chile ($X per litre), while the price for Panama ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+2.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for vermouth in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together accounting for 48% of global consumption.

What are the largest producers of vermouth in the world?

The country with the largest volume of vermouth production was China, accounting for 26% of total volume. Moreover, vermouth production in China exceeded the figures recorded by the second-largest producer, the United States, threefold. The third position in this ranking was occupied by India, with a 9.5% share.

What are the leading suppliers of vermouth to Cuba?

In value terms, Panama, Brazil and Spain were the largest vermouth suppliers to Cuba, together accounting for 80% of total imports.

What is the average export price for vermouth in Cuba?

In 2021, the average vermouth export price amounted to $3.1 per litre, approximately equating the previous year.

What is the average import price for vermouth in Cuba?

In 2021, the average vermouth import price amounted to $3.2 per litre, waning by -3% against the previous year.

This report provides an in-depth analysis of the vermouth 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 11041000 - Vermouth and other wine of fresh grapes flavoured with plants or aromatic substances (excluding alcohol 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