Costa Rica: Footwear Treatments Market 2025

Footwear Treatments Market Size in Costa Rica

The Costa Rican footwear treatments market contracted remarkably to $X in 2022, declining by -19.2% 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). Over the period under review, consumption recorded a pronounced downturn. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Footwear Treatments Exports

Exports from Costa Rica

In 2022, approx. X tons of polishes and creams for footwear or leather were exported from Costa Rica; growing by 59% on the previous year. Overall, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 894% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, footwear treatments exports soared to $X in 2022. In general, exports recorded a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of 1,279%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Honduras (X tons), Panama (X tons) and Guatemala (X tons) were the main destinations of footwear treatments exports from Costa Rica, with a combined 90% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of +59.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Honduras ($X) remains the key foreign market for polishes and creams for footwear or leather exports from Costa Rica, comprising 46% of total exports. The second position in the ranking was taken by Guatemala ($X), with a 23% share of total exports. It was followed by Panama, with a 20% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Honduras totaled +66.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+20.5% per year) and Panama (+30.7% per year).

Export Prices by Country

In 2022, the average footwear treatments export price amounted to $X per ton, rising by 11% against the previous year. Over the last decade, it increased at an average annual rate of +3.9%. The most prominent rate of growth was recorded in 2013 an increase of 39%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Guatemala ($X per ton) and Honduras ($X per ton), while the average price for exports to Panama ($X per ton) and Nicaragua ($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 El Salvador (+20.6%), while the prices for the other major destinations experienced more modest paces of growth.

Footwear Treatments Imports

Imports into Costa Rica

In 2022, the amount of polishes and creams for footwear or leather imported into Costa Rica fell to X tons, shrinking by -10.3% compared with the year before. Overall, imports showed a slight curtailment. The growth pace was the most rapid in 2013 when imports increased by 57% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, footwear treatments imports shrank to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 93%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Colombia (X tons), Honduras (X tons) and Mexico (X tons) were the main suppliers of footwear treatments imports to Costa Rica, together comprising 81% of total imports.

From 2012 to 2022, the biggest increases were recorded for Honduras (with a CAGR of +24.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Honduras ($X) constituted the largest supplier of polishes and creams for footwear or leather to Costa Rica, comprising 48% of total imports. The second position in the ranking was taken by Colombia ($X), with a 22% share of total imports. It was followed by the United States, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Honduras totaled +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-6.2% per year) and the United States (+4.6% per year).

Import Prices by Country

In 2022, the average footwear treatments import price amounted to $X per ton, growing by 3.8% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average import price increased by 22%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Peru ($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 (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform