Wine Market in Costa Rica
Market Overview
The Costa Rican wine market declined to $
in , standing approx. at 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, posted a buoyant increase. Over the period under review, the market attained the peak level at $ in , and then reduced modestly in the following year.
in , standing approx. at 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, posted a buoyant increase. Over the period under review, the market attained the peak level at $ in , and then reduced modestly in the following year.Consumption
In , the amount of wine consumed in Costa Rica contracted slightly to litres, stabilizing at the previous year's figure. In general, the total consumption indicated a noticeable expansion from 2007 to : its volume increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against indices. Over the period under review, consumption hit record highs at litres in , and then shrank in the following year.
The value of the wine market in Costa Rica declined slightly to $ in , remaining stable 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, however, saw a buoyant increase. Wine consumption peaked at $ in , and then shrank modestly in the following year.
, the amount of wine consumed in Costa Rica contracted slightly to litres, stabilizing at the previous year's figure. In general, the total consumption indicated a noticeable expansion from 2007 to : its volume increased at an average annual rate of +% over the last fifteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against indices. Over the period under review, consumption hit record highs at litres in , and then shrank in the following year.The value of the wine market in Costa Rica declined slightly to $
in , remaining stable 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, however, saw a buoyant increase. Wine consumption peaked at $ in , and then shrank modestly in the following year.Market Forecast
Driven by increasing demand for wine in Costa Rica, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to litres 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 litres 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
Wine 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 decreased moderately ( percentage point) over the period under review.
, 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 wine; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of litres, 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 litres, 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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