Costa Rica: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Costa Rica

In 2022, the Costa Rican frozen crustaceans market decreased by X% to $X, falling for the second year in a row after nine years of growth. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Frozen Crustaceans Production in Costa Rica

In value terms, frozen crustaceans production expanded markedly to $X in 2022 estimated in export price. In general, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Frozen Crustaceans Exports

Exports from Costa Rica

In 2022, the amount of frozen crustaceans exported from Costa Rica expanded slightly to X tons, picking up by X% on the previous year. Overall, exports, however, saw a noticeable downturn. The pace of growth was the most pronounced in 2013 when exports increased by X%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, frozen crustaceans exports expanded markedly to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Belgium (X tons) was the main destination for frozen crustaceans exports from Costa Rica, accounting for a X% share of total exports. Moreover, frozen crustaceans exports to Belgium exceeded the volume sent to the second major destination, Spain (X tons), threefold. The UK (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Belgium stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and the UK (X% per year).

In value terms, Belgium ($X) remains the key foreign market for frozen crustaceans exports from Costa Rica, comprising X% of total exports. The second position in the ranking was taken by Spain ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Belgium amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and the UK (X% per year).

Export Prices by Country

In 2022, the average frozen crustaceans export price amounted to $X per ton, with an increase of 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 was the most pronounced in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; afterwards, it flattened through to 2022.

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

Frozen Crustaceans Imports

Imports into Costa Rica

In 2022, supplies from abroad of frozen crustaceans decreased by X% to X tons, falling for the third year in a row after two years of growth. Overall, imports, however, recorded a perceptible increase. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. 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, frozen crustaceans imports dropped to $X in 2022. Over the period under review, imports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Nicaragua (X tons), Honduras (X tons) and Ecuador (X tons) were the main suppliers of frozen crustaceans imports to Costa Rica, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Nicaragua ($X), Honduras ($X) and Ecuador ($X) appeared to be the largest frozen crustaceans suppliers to Costa Rica, together comprising X% of total imports.

Among the main suppliers, Honduras, with a CAGR of X%, 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

In 2022, the average frozen crustaceans import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price enjoyed a strong expansion. The pace of growth appeared the most rapid in 2014 an increase of X%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ecuador ($X per ton), while the price for Honduras ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform