Cuba: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Cuba

The Cuban odoriferous substance mixture market rose to $X in 2021, increasing by 2.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a abrupt decline. Odoriferous substance mixture consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Odoriferous Substance Mixture Exports

Exports from Cuba

For the seventh consecutive year, Cuba recorded decline in shipments abroad of mixtures of odoriferous substances and their preparations, which decreased by -15.7% to X kg in 2021. In general, exports showed a precipitous descent. The most prominent rate of growth was recorded in 2014 with an increase of 567%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, odoriferous substance mixture exports dropped notably to $X in 2021. Over the period under review, exports continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 409% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Spain (X kg) was the main destination for odoriferous substance mixture exports from Cuba, accounting for a 98% share of total exports. It was followed by France (X kg), with a 2.3% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Spain amounted to +40.3%.

In value terms, Spain ($X) emerged as the key foreign market for odoriferous substance mixture exports from Cuba, comprising 98% of total exports. The second position in the ranking was taken by France ($X), with a 1.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Spain stood at +19.6%.

Export Prices by Country

In 2021, the average odoriferous substance mixture export price amounted to $X per ton, standing approx. at the previous year. Overall, the export price, however, continues to indicate measured growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 145% against the previous year. As a result, the export price attained the peak level of $X per ton, leveling off in the following year.

Average prices varied noticeably for the major export markets. In 2021, the country with the highest price was Spain ($X per ton), while the average price for exports to France totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+0.7%).

Odoriferous Substance Mixture Imports

Imports into Cuba

In 2021, the amount of mixtures of odoriferous substances and their preparations imported into Cuba fell dramatically to X tons, dropping by -20.6% against the year before. Over the period under review, imports saw a deep setback. The growth pace was the most rapid in 2015 with an increase of 16% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, odoriferous substance mixture imports reached $X in 2021. In general, imports recorded a abrupt curtailment. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of odoriferous substance mixture to Cuba, accounting for a 46% share of total imports. Moreover, odoriferous substance mixture imports from Spain exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from Spain totaled -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-13.6% per year) and Italy (-20.5% per year).

In value terms, the largest odoriferous substance mixture suppliers to Cuba were Spain ($X), France ($X) and Italy ($X), with a combined 69% share of total imports. China, Brazil, Costa Rica, Mexico and Switzerland lagged somewhat behind, together comprising a further 11%.

Among the main suppliers, Brazil, with a CAGR of +8.9%, 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 mixed trend patterns.

Import Prices by Country

In 2021, the average odoriferous substance mixture import price amounted to $X per ton, with an increase of 38% against the previous year. Over the period under review, import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, odoriferous substance mixture import price increased by +56.9% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 39% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was France ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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