Extracts Of Tea Market in Costa Rica
Market Overview
The Costa Rican extracts of tea market contracted to $
in , dropping 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). Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $. From 2015 to , the growth of the market failed to regain momentum.
In value terms, extracts of tea production shrank to $ in estimated in export price. Overall, production saw a measured increase. The growth pace was the most rapid in 2014 when the production volume increased by %. As a result, production reached the peak level of $. From 2015 to , production growth remained at a somewhat lower figure.
in , dropping 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). Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $. From 2015 to , the growth of the market failed to regain momentum.In value terms, extracts of tea production shrank to $
in estimated in export price. Overall, production saw a measured increase. The growth pace was the most rapid in 2014 when the production volume increased by %. As a result, production reached the peak level of $. From 2015 to , production growth remained at a somewhat lower figure.Consumption
Extracts of tea consumption in Costa Rica shrank to tons in , falling by -% against figures. Over the period under review, consumption, however, showed a relatively flat trend pattern. Extracts of tea consumption peaked at tons in 2018; however, from 2019 to , consumption failed to regain momentum.
The revenue of the extracts of tea market in Costa Rica shrank to $ in , dropping 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). Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $. From 2015 to , the growth of the market remained at a somewhat lower figure.
tons in , falling by -% against figures. Over the period under review, consumption, however, showed a relatively flat trend pattern. Extracts of tea consumption peaked at tons in 2018; however, from 2019 to , consumption failed to regain momentum.The revenue of the extracts of tea market in Costa Rica shrank to $
in , dropping 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). Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $. From 2015 to , the growth of the market remained at a somewhat lower figure.Market Forecast
Driven by increasing demand for extracts, essences and concentrates of tea or mate in Costa Rica, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding 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
Affected by an intensive growth in domestic production, which will gradually displace imported products from the market, the share of imports decreased from % in 2007 to % in . Costa Rica domestic supply is expected to continue its growth. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.
% in 2007 to % in . Costa Rica domestic supply is expected to continue its growth. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.Trade Balance
Costa Rica remains a net importer of extracts of tea; 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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