Market Insights Consumer Beauty & Personal Care

Fragrances - Cuba

Cuba

In 2024, the Fragrances market in Cuba is projected to generate a revenue of US$166.30m.
It is anticipated to experience an annual growth rate of 5.17% (CAGR 2024-2029).
When compared globally, in the United States leads in terms of revenue generation, with an expected revenue of US$8,862m in 2024.
On a per capita basis, each person in Cuba is forecasted to contribute US$14.89 in revenue to the Fragrances market in 2024.
Furthermore, Non-Luxury are expected to account for 86% of total sales in the Fragrances market by 2024.
Cuba's fragrance market is burgeoning, driven by a resurgence of interest in traditional Cuban scents and the country's vibrant cultural heritage.

Key regions: Malaysia, Worldwide, United Arab Emirates, United Kingdom, Indonesia

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Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.