Spirits And Liqueurs Market in Costa Rica
Market Overview
In 
, the Costa Rican spirits and liqueurs market was finally on the rise to reach $ for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, continues to indicate a mild decline. As a result, consumption reached the peak level of $. From to , the growth of the market remained at a somewhat lower figure.
In value terms, spirits and liqueurs production declined to $ in estimated in export price. Overall, the total production indicated a slight expansion from 2007 to : its value 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, production increased by +% against indices. The pace of growth was the most pronounced in 2017 with an increase of %. As a result, production reached the peak level of $. From 2018 to , production growth failed to regain momentum.
, the Costa Rican spirits and liqueurs market was finally on the rise to reach $ for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, continues to indicate a mild decline. As a result, consumption reached the peak level of $. From to , the growth of the market remained at a somewhat lower figure.In value terms, spirits and liqueurs production declined to $
in estimated in export price. Overall, the total production indicated a slight expansion from 2007 to : its value 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, production increased by +% against indices. The pace of growth was the most pronounced in 2017 with an increase of %. As a result, production reached the peak level of $. From 2018 to , production growth failed to regain momentum.Consumption
In , after two years of decline, there was significant growth in consumption of spirits, liqueurs and other spirituous beverages, when its volume increased by % to litres. Overall, consumption, however, saw a mild descent. Over the period under review, consumption hit record highs at litres in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.
The revenue of the spirits and liqueurs market in Costa Rica surged to $ in , with an increase of % 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, however, saw a slight downturn. As a result, consumption reached the peak level of $. From to , the growth of the market remained at a somewhat lower figure.
, after two years of decline, there was significant growth in consumption of spirits, liqueurs and other spirituous beverages, when its volume increased by % to litres. Overall, consumption, however, saw a mild descent. Over the period under review, consumption hit record highs at litres in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.The revenue of the spirits and liqueurs market in Costa Rica surged to $
in , with an increase of % 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, however, saw a slight downturn. As a result, consumption reached the peak level of $. From to , the growth of the market remained at a somewhat lower figure.Market Forecast
Depressed by shrinking demand for spirits and liqueurs in Costa Rica, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to litres by the end of .
In value terms, the market is forecast to contract 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 depress the market volume to litres by the end of .In value terms, the market is forecast to contract 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 years (from % to %).
% to %).Trade Balance
Costa Rica remains a net exporter of spirits and liqueurs; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a trade surplus of litres, which was equal to $. Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.
. In , there was a trade surplus of litres, which was equal to $. Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.
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