Cuba: Market for Spirits, Liqueurs And Other Spirituous Beverages 2024

Market Size for Spirits, Liqueurs And Other Spirituous Beverages in Cuba

The Cuban market for spirits, liqueurs and other spirituous beverages totaled $X in 2022, remaining stable against the previous year. Overall, consumption recorded resilient growth. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Spirits, Liqueurs And Other Spirituous Beverages in Cuba

In value terms, production of spirits, liqueurs and other spirituous beverages expanded slightly to $X in 2022 estimated in export price. Over the period under review, production posted a strong expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 52%. Over the period under review, production of attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Spirits, Liqueurs And Other Spirituous Beverages

Exports from Cuba

In 2022, overseas shipments of spirits, liqueurs and other spirituous beverages increased by 37% to X litres, rising for the second year in a row after two years of decline. Over the period under review, exports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2017 when exports increased by 624% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of spirits, liqueurs and other spirituous beverages soared to $X in 2022. Overall, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of 215% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Spain (X litres) was the main destination for exports of spirits, liqueurs and other spirituous beverages from Cuba, accounting for a 45% share of total exports. Moreover, exports of spirits, liqueurs and other spirituous beverages to Spain exceeded the volume sent to the second major destination, the Czech Republic (X litres), sevenfold. The UK (X litres) ranked third in terms of total exports with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume to Spain amounted to -1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+42.4% per year) and the UK (0.0% per year).

In value terms, Spain ($X) remains the key foreign market for spirits, liqueurs and other spirituous beverages exports from Cuba, comprising 40% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 13% share of total exports. It was followed by the UK, with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain amounted to -1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+49.4% per year) and the UK (0.0% per year).

Export Prices by Country

In 2022, the average export price for spirits, liqueurs and other spirituous beverages amounted to $X per litre, remaining stable against 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 2016 an increase of 77% against the previous year. As a result, the export price attained the peak level of $X per litre. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($X per litre), while the average price for exports to Spain ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+28.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Spirits, Liqueurs And Other Spirituous Beverages

Imports into Cuba

In 2022, purchases abroad of spirits, liqueurs and other spirituous beverages increased by 14% to X litres, rising for the second consecutive year after three years of decline. Overall, imports recorded perceptible growth. The growth pace was the most rapid in 2021 with an increase of 126%. Imports peaked at X litres in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, imports of spirits, liqueurs and other spirituous beverages surged to $X in 2022. Over the period under review, imports recorded notable growth. The pace of growth was the most pronounced in 2021 with an increase of 118%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Spain (X litres), Brazil (X litres) and Italy (X litres) were the main suppliers of imports of spirits, liqueurs and other spirituous beverages to Cuba, together accounting for 57% of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +4.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Spain ($X) constituted the largest supplier of spirits, liqueurs and other spirituous beverages to Cuba, comprising 36% of total imports. The second position in the ranking was held by Brazil ($X), with a 14% share of total imports. It was followed by Italy, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value from Spain totaled +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-6.2% per year) and Italy (+1.7% per year).

Import Prices by Country

The average import price for spirits, liqueurs and other spirituous beverages stood at $X per litre in 2022, with an increase of 13% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Italy ($X per litre) and Spain ($X per litre), while the price for Brazil ($X per litre) and France ($X per litre) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform