Costa Rica: Market for Gingerbread, Sweet Biscuits and Waffles 2024

Market Size for Gingerbread, Sweet Biscuits and Waffles in Costa Rica

The Costa Rican market for gingerbread, sweet biscuits and waffles totaled $X in 2022, with an increase of 3.6% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Gingerbread, sweet biscuit and waffle consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Gingerbread, Sweet Biscuits and Waffles in Costa Rica

In value terms, gingerbread, sweet biscuit and waffle production reached $X in 2022 estimated in export price. Overall, production continues to indicate mild growth. The most prominent rate of growth was recorded in 2020 with an increase of 20% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Gingerbread, Sweet Biscuits and Waffles

Exports from Costa Rica

Gingerbread, sweet biscuit and waffle exports from Costa Rica totaled X tons in 2022, picking up by 5.4% against the year before. The total export volume increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 13% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, gingerbread, sweet biscuit and waffle exports contracted modestly to $X in 2022. The total export value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 12% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then declined in the following year.

Exports by Country

Guatemala (X tons), Nicaragua (X tons) and El Salvador (X tons) were the main destinations of gingerbread, sweet biscuit and waffle exports from Costa Rica, with a combined 67% share of total exports. Honduras, the United States, Panama and Colombia lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Colombia (with a CAGR of +37.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for gingerbread, sweet biscuit and waffle exported from Costa Rica were Guatemala ($X), Honduras ($X) and El Salvador ($X), with a combined 64% share of total exports. Nicaragua, the United States, Panama and Colombia lagged somewhat behind, together accounting for a further 32%.

In terms of the main countries of destination, Colombia, with a CAGR of +27.8%, 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

In 2022, the average export price for gingerbread, sweet biscuits and waffles amounted to $X per ton, declining by -6.9% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 15%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Nicaragua ($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 (+2.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Gingerbread, Sweet Biscuits and Waffles

Imports into Costa Rica

After two years of decline, supplies from abroad of gingerbread, sweet biscuits and waffles increased by 3.1% to X tons in 2022. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2019 when imports increased by 9.6%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, gingerbread, sweet biscuit and waffle imports reduced slightly to $X in 2022. The total import value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 13% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Guatemala (X tons) constituted the largest gingerbread, sweet biscuit and waffle supplier to Costa Rica, with a 34% share of total imports. Moreover, gingerbread, sweet biscuit and waffle imports from Guatemala exceeded the figures recorded by the second-largest supplier, Peru (X tons), twofold. Mexico (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Guatemala totaled +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+13.0% per year) and Mexico (-2.5% per year).

In value terms, Guatemala ($X) constituted the largest supplier of gingerbread, sweet biscuits and waffles to Costa Rica, comprising 28% of total imports. The second position in the ranking was taken by Mexico ($X), with a 13% share of total imports. It was followed by the United States, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Guatemala totaled +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-1.5% per year) and the United States (+1.3% per year).

Import Prices by Country

In 2022, the average import price for gingerbread, sweet biscuits and waffles amounted to $X per ton, declining by -7.1% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 16% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Nicaragua ($X per ton), while the price for India ($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 (+35.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform