Costa Rica: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Costa Rica

The Costa Rican prepared baking powder market rose significantly to $X in 2022, growing by 13% against the previous year. In general, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 -10.1% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Prepared Baking Powder Production in Costa Rica

In value terms, prepared baking powder production rose sharply to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 56% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Prepared Baking Powder Exports

Exports from Costa Rica

In 2022, exports of prepared baking powders from Costa Rica expanded notably to X tons, surging by 6.5% on 2021 figures. Over the period under review, exports, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 250% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, prepared baking powder exports reduced slightly to $X in 2022. Overall, exports, however, faced a abrupt slump. The most prominent rate of growth was recorded in 2017 with an increase of 82% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guatemala (X tons), Colombia (X tons) and Honduras (X tons) were the main destinations of prepared baking powder exports from Costa Rica, with a combined 85% share of total exports.

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 -12.2%), while the other leaders experienced a decline.

In value terms, Honduras ($X) remains the key foreign market for prepared baking powders exports from Costa Rica, comprising 64% of total exports. The second position in the ranking was taken by Colombia ($X), with a 16% share of total exports. It was followed by Guatemala, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Honduras totaled +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-19.6% per year) and Guatemala (-20.0% per year).

Export Prices by Country

The average prepared baking powder export price stood at $X per ton in 2022, which is down by -8.4% against the previous year. Overall, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, prepared baking powder export price increased by +106.5% against 2018 indices. The growth pace was the most rapid in 2019 an increase of 88%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Panama ($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 Honduras (+22.1%), while the prices for the other major destinations experienced mixed trend patterns.

Prepared Baking Powder Imports

Imports into Costa Rica

Prepared baking powder imports into Costa Rica soared to X tons in 2022, increasing by 22% against the previous year's figure. The total import volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 54% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, prepared baking powder imports totaled $X in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -22.1% against 2018 indices. The growth pace was the most rapid in 2016 with an increase of 38%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Mexico (X tons), Guatemala (X tons) and El Salvador (X tons) were the main suppliers of prepared baking powder imports to Costa Rica, together comprising 87% of total imports.

From 2012 to 2022, the biggest increases were recorded for El Salvador (with a CAGR of +43.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest prepared baking powder suppliers to Costa Rica were Mexico ($X), Guatemala ($X) and the United States ($X), with a combined 84% share of total imports. El Salvador and Chile lagged somewhat behind, together accounting for a further 16%.

In terms of the main suppliers, El Salvador, with a CAGR of +31.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average prepared baking powder import price stood at $X per ton in 2022, dropping by -8.4% against the previous year. In general, import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, prepared baking powder import price increased by +6.8% against 2020 indices. The pace of growth appeared the most rapid in 2016 an increase of 38% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($X per ton), while the price for El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform