Costa Rica: Market for Powdered, Evaporated And Condensed Milk 2024

Market Size for Powdered, Evaporated And Condensed Milk in Costa Rica

The Costa Rican market for powdered, evaporated and condensed milk surged to $X in 2022, with an increase of X% against the previous year. In general, consumption enjoyed a resilient increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Production of Powdered, Evaporated And Condensed Milk in Costa Rica

In value terms, powdered, evaporated and condensed milk production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of X%. Powdered, evaporated and condensed milk production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Powdered, Evaporated And Condensed Milk

Exports from Costa Rica

For the third year in a row, Costa Rica recorded decline in shipments abroad of powdered, evaporated and condensed milk, which decreased by X% to X tons in 2022. In general, exports showed a abrupt contraction. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, powdered, evaporated and condensed milk exports reduced rapidly to $X in 2022. Over the period under review, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Guatemala (X tons), El Salvador (X tons) and Nicaragua (X tons) were the main destinations of powdered, evaporated and condensed milk exports from Costa Rica, together accounting for X% of total exports. Honduras, Colombia and the Dominican Republic lagged somewhat behind, together accounting for a further X%.

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

In value terms, Guatemala ($X), El Salvador ($X) and Nicaragua ($X) appeared to be the largest markets for powdered, evaporated and condensed milk exported from Costa Rica worldwide, with a combined X% share of total exports.

Among the main countries of destination, Nicaragua, with a CAGR of X%, recorded the highest growth rate of the value of exports, 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 powdered, evaporated and condensed milk stood at $X per ton in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2020 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was El Salvador ($X per ton), while the average price for exports to Colombia ($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 Panama (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Powdered, Evaporated And Condensed Milk

Imports into Costa Rica

In 2022, the amount of powdered, evaporated and condensed milk imported into Costa Rica declined to X tons, with a decrease of X% compared with 2021. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, powdered, evaporated and condensed milk imports rose remarkably to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Chile (X tons), Mexico (X tons) and the Netherlands (X tons) were the main suppliers of powdered, evaporated and condensed milk imports to Costa Rica, together accounting for X% of total imports. The United States, Germany, Argentina and El Salvador lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Argentina (with a CAGR of X.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) constituted the largest supplier of powdered, evaporated and condensed milk to Costa Rica, comprising X% of total imports. The second position in the ranking was taken by Mexico ($X), with an X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Chile amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and the Netherlands (X% per year).

Import Prices by Country

The average import price for powdered, evaporated and condensed milk stood at $X per ton in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform