Non-Alcoholic Drinks - Cuba

The Non-Alcoholic Drinks market in Cuba has been experiencing significant growth in recent years. Customer preferences have shifted towards healthier beverage options, leading to an increased demand for non-alcoholic drinks. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market. Customer preferences in Cuba have been shifting towards healthier options in the Non-Alcoholic Drinks market. Consumers are becoming more health-conscious and are looking for beverages that are low in sugar and artificial additives. This has led to an increased demand for natural and organic drinks, such as fruit juices and herbal teas. Additionally, there is a growing interest in functional beverages that offer health benefits, such as probiotic drinks and vitamin-infused waters. As a result, companies in the market have been focusing on developing and promoting these healthier options to cater to the changing preferences of consumers. Trends in the Non-Alcoholic Drinks market in Cuba include the rising popularity of local and traditional beverages. Consumers are increasingly interested in trying unique and authentic drinks that are representative of the Cuban culture. This has led to a resurgence in traditional beverages such as sugarcane juice and coconut water, which are widely available in the country. Additionally, there is a growing trend of incorporating local ingredients and flavors into non-alcoholic drinks, such as tropical fruits and herbs. This not only appeals to the local population but also attracts tourists who are looking for an authentic Cuban experience. Local special circumstances in Cuba have played a role in the development of the Non-Alcoholic Drinks market. The country has a rich agricultural sector, which provides a steady supply of fresh fruits and herbs that are used in the production of non-alcoholic beverages. This allows companies to source ingredients locally, reducing costs and supporting the local economy. Furthermore, the Cuban government has been supportive of the development of the non-alcoholic drinks industry, providing incentives and support to local producers. This has encouraged the growth of small and medium-sized enterprises in the market, contributing to its overall development. Underlying macroeconomic factors have also influenced the Non-Alcoholic Drinks market in Cuba. The country has been experiencing economic growth in recent years, leading to an increase in disposable income among the population. As a result, consumers have more purchasing power and are able to spend more on non-alcoholic beverages. Additionally, the tourism industry in Cuba has been booming, attracting a large number of international visitors. This has created a demand for non-alcoholic drinks in hotels, restaurants, and cafes, further driving the growth of the market. In conclusion, the Non-Alcoholic Drinks market in Cuba is developing due to changing customer preferences towards healthier options, the rising popularity of local and traditional beverages, local special circumstances such as the availability of fresh ingredients and government support, and underlying macroeconomic factors including economic growth and a thriving tourism industry.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. 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 GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level 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, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.