Costa Rica: Market for Candies, Sweets, and Nonchocolate Confectionery 2024

Market Size for Candies, Sweets, and Nonchocolate Confectionery in Costa Rica

In 2022, the Costa Rican market for candies, sweets, and nonchocolate confectionery was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, recorded a pronounced slump. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Candies, Sweets, and Nonchocolate Confectionery in Costa Rica

In value terms, candy, sweets, and nonchocolate confectionery production declined modestly to $X in 2022 estimated in export price. Overall, the total production indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.2% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 35%. Candy, sweets, and nonchocolate confectionery production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports from Costa Rica

In 2022, overseas shipments of candies, sweets, and nonchocolate confectionery decreased by -19.4% to X tons for the first time since 2014, thus ending a seven-year rising trend. Over the period under review, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 30%. The exports peaked at X tons in 2021, and then fell markedly in the following year.

In value terms, candy, sweets, and nonchocolate confectionery exports reduced to $X in 2022. In general, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 44%. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

Guatemala (X tons), Honduras (X tons) and Nicaragua (X tons) were the main destinations of candy, sweets, and nonchocolate confectionery exports from Costa Rica, together comprising 56% of total exports. El Salvador, the United States, Mexico and the Dominican Republic lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +27.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for candy, sweets, and nonchocolate confectionery exported from Costa Rica were Guatemala ($X), Honduras ($X) and the United States ($X), together comprising 56% of total exports. Nicaragua, El Salvador, the Dominican Republic and Mexico lagged somewhat behind, together accounting for a further 37%.

Mexico, with a CAGR of +24.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for candies, sweets, and nonchocolate confectionery stood at $X per ton in 2022, increasing by 11% against the previous year. Overall, the export price, however, recorded a perceptible setback. The pace of growth was the most pronounced in 2021 when the average export price increased by 14%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Dominican Republic ($X per ton) and the United States ($X per ton), while the average price for exports to Mexico ($X per ton) and El Salvador ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+2.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports into Costa Rica

In 2022, overseas purchases of candies, sweets, and nonchocolate confectionery decreased by -18.4% to X tons, falling for the third year in a row after eight years of growth. Over the period under review, imports saw a pronounced curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 16%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, candy, sweets, and nonchocolate confectionery imports contracted to $X in 2022. In general, imports continue to indicate a mild downturn. The pace of growth appeared the most rapid in 2013 with an increase of 18% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Guatemala (X tons), Colombia (X tons) and Mexico (X tons) were the main suppliers of candy, sweets, and nonchocolate confectionery imports to Costa Rica, together comprising 59% of total imports.

From 2012 to 2022, the biggest increases were recorded for Colombia (with a CAGR of +2.8%), while purchases for the other leaders experienced a decline.

In value terms, the largest candy, sweets, and nonchocolate confectionery suppliers to Costa Rica were Colombia ($X), Guatemala ($X) and Mexico ($X), with a combined 56% share of total imports.

Colombia, with a CAGR of +5.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average import price for candies, sweets, and nonchocolate confectionery amounted to $X per ton, growing by 6.6% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by 13%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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 ($X per ton), while the price for Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform