Costa Rica: Market for Bone Glues and Gelatin 2024

Market Size for Bone Glues and Gelatin in Costa Rica

The Costa Rican bone glue and gelatin market expanded to $X in 2022, increasing by 2.4% 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, saw a abrupt descent. Bone glue and gelatin consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Exports of Bone Glues and Gelatin

Exports from Costa Rica

In 2022, overseas shipments of bone glues and gelatin decreased by -8.1% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 595% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, bone glue and gelatin exports rose markedly to $X in 2022. Overall, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 214%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Panama (X tons) was the main destination for bone glue and gelatin exports from Costa Rica, accounting for a 85% share of total exports. Moreover, bone glue and gelatin exports to Panama exceeded the volume sent to the second major destination, El Salvador (X kg), eightfold.

From 2012 to 2022, the average annual growth rate of volume to Panama totaled +23.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (-6.7% per year) and Nicaragua (-1.2% per year).

In value terms, Panama ($X) remains the key foreign market for bone glues and gelatin exports from Costa Rica, comprising 88% of total exports. The second position in the ranking was held by El Salvador ($X), with a 6.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Panama stood at +24.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (-9.9% per year) and Nicaragua (+2.5% per year).

Export Prices by Country

In 2022, the average bone glue and gelatin export price amounted to $X per ton, growing by 18% against the previous year. In general, the export price saw mild growth. The most prominent rate of growth was recorded in 2014 an increase of 321% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+308.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bone Glues and Gelatin

Imports into Costa Rica

In 2022, imports of bone glues and gelatin into Costa Rica expanded slightly to X tons, increasing by 3.7% compared with the year before. In general, imports, however, faced a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 49%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, bone glue and gelatin imports rose modestly to $X in 2022. Overall, imports, however, faced a abrupt slump. The pace of growth was the most pronounced in 2018 with an increase of 44%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Argentina (X tons), Colombia (X tons) and Ecuador (X tons) were the main suppliers of bone glue and gelatin imports to Costa Rica, together accounting for 57% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Argentina (with a CAGR of +49.9%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest bone glue and gelatin suppliers to Costa Rica were Argentina ($X), Colombia ($X) and Brazil ($X), with a combined 43% share of total imports.

Among the main suppliers, Argentina, with a CAGR of +47.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average bone glue and gelatin import price stood at $X per ton in 2022, flattening at the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2015 an increase of 13% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform