Hop Market in Costa Rica
Market Overview
In 
, after two years of decline, there was significant growth in the Costa Rican hop market, when its value increased by % to $. In general, consumption, however, saw a slight reduction. Hop consumption peaked at $ in 2017; however, from 2018 to , consumption stood at a somewhat lower figure.
, after two years of decline, there was significant growth in the Costa Rican hop market, when its value increased by % to $. In general, consumption, however, saw a slight reduction. Hop consumption peaked at $ in 2017; however, from 2018 to , consumption stood at a somewhat lower figure.Consumption
In , consumption of hops was finally on the rise to reach tons for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, showed a mild decrease. Over the period under review, consumption reached the peak volume at tons in 2017; however, from 2018 to , consumption failed to regain momentum.
The value of the hop market in Costa Rica soared to $ in , picking up by % 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). In general, consumption, however, continues to indicate a mild decline. Over the period under review, the market hit record highs at $ in 2017; however, from 2018 to , consumption stood at a somewhat lower figure.
, consumption of hops was finally on the rise to reach tons for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, showed a mild decrease. Over the period under review, consumption reached the peak volume at tons in 2017; however, from 2018 to , consumption failed to regain momentum.The value of the hop market in Costa Rica soared to $
in , picking up by % 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). In general, consumption, however, continues to indicate a mild decline. Over the period under review, the market hit record highs at $ in 2017; however, from 2018 to , consumption stood at a somewhat lower figure.Market Forecast
Driven by rising demand for hop in Costa Rica, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .
In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to bring the market volume to tons by the end of .In value terms, the market is forecast to increase with an anticipated CAGR of +
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in Costa Rica increased significantly over the last fifteen-year period (from % to %). Hop market in Costa Rica consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.
% to %). Hop market in Costa Rica consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.Trade Balance
Costa Rica remains a net importer of hop; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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