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Cuba - Biological Products - Market Analysis, Forecast, Size, Trends and Insights
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Biological Product Market Size in Cuba
The Cuban biological product market expanded to $X in 2021, with an increase of 2.3% against the previous year. Overall, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +106.7% against 2015 indices. Over the period under review, the market attained the maximum level in 2021 and is likely to see gradual growth in the immediate term.
Biological Product Production in Cuba
In value terms, biological product production fell slightly to $X in 2021 estimated in export price. Overall, the total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +98.7% against 2015 indices. The growth pace was the most rapid in 2018 with an increase of 84%. Biological product production peaked at $X in 2020, and then shrank modestly in the following year.
Biological Product Exports
Exports from Cuba
In 2021, overseas shipments of biological products decreased by -23.7% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports faced a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when exports increased by 25% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.
In value terms, biological product exports reduced to $X in 2021. In general, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 40% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.
Exports by Country
Chile (X tons), Colombia (X tons) and Nicaragua (X tons) were the main destinations of biological product exports from Cuba, together comprising 58% of total exports. These countries were followed by Turkey, Thailand, Togo, South Africa, Argentina and Ecuador, which together accounted for a further 30%.
From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Togo (with a CAGR of +386.4%), while the other leaders experienced more modest paces of growth.
In value terms, Nicaragua ($X) emerged as the key foreign market for biological products exports from Cuba, comprising 44% of total exports. The second position in the ranking was taken by Togo ($X), with a 10% share of total exports. It was followed by Thailand, with a 6.7% share.
From 2012 to 2021, the average annual rate of growth in terms of value to Nicaragua totaled +23.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Togo (+460.1% per year) and Thailand (+28.5% per year).
Export Prices by Country
The average biological product export price stood at $X per ton in 2021, with an increase of 24% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, biological product export price increased by +32.4% against 2019 indices. The pace of growth was the most pronounced in 2016 when the average export price increased by 36%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.
Prices varied noticeably country of destination: the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+20.4%), while the prices for the other major destinations experienced more modest paces of growth.
Biological Product Imports
Imports into Cuba
In 2021, supplies from abroad of biological products increased by 152% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports posted resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, biological product imports soared to $X in 2021. Overall, imports recorded buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
Imports by Country
China (X tons), Germany (X tons) and Costa Rica (X tons) were the main suppliers of biological product imports to Cuba, together comprising 87% of total imports.
From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +119.8%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest biological product suppliers to Cuba were China ($X), Costa Rica ($X) and Germany ($X), with a combined 83% share of total imports.
In terms of the main suppliers, China, with a CAGR of +139.8%, 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 more modest paces of growth.
Import Prices by Country
The average biological product import price stood at $X per ton in 2021, falling by -33% against the previous year. Over the period under review, the import price, however, showed strong growth. The most prominent rate of growth was recorded in 2018 an increase of 146%. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.
Prices varied noticeably country of origin: the country with the highest price was Costa Rica ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+31.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the biological product 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 21202120 -
- Prodcom 21202140 -
- Prodcom 21202145 - Vaccines for human medicine
- Prodcom 21202160 - Vaccines for veterinary medicine
- Prodcom 21106055 - Human blood, animal blood prepared for therapeutic, p rophylactic or diagnostic uses, cultures of micro-organisms, t oxins (excluding yeasts)
- Prodcom 21202320 - Blood-grouping reagents
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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