Market Insights Consumer Beauty & Personal Care

Cosmetics - Cuba

Cuba

In 2024, the revenue in the Cosmetics market in Cuba amounts to US$189.80m.
It is anticipated that the market will experience an annual growth rate of 5.43% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue, amounting to US$20,130m in 2024.
Taking into account the total population, each person in Cuba generates US$16.99 in revenue in 2024.
Furthermore, by 2024, 86% of sales in the Cosmetics market will be attributed to Non-Luxury.
Despite limited access to international brands, Cuba has seen a rise in demand for locally-produced organic cosmetics.

Key regions: Malaysia, Singapore, Worldwide, Indonesia, India

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Methodology

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, regression analysis and Monte Carlo simulations are particularly suited for forecasting in the Home and Laundry Care market, due to the unpredictable variability and complex dynamics in consumer behavior and product adoption. The main drivers are GDP and consumer spending.