Costa Rica: Sugary Soft Drink Market 2024

Sugary Soft Drink Market Size in Costa Rica

The Costa Rican sugary soft drink market shrank modestly to $X in 2022, with a decrease of -2.1% against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Sugary Soft Drink Production in Costa Rica

In value terms, sugary soft drink production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 17% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Sugary Soft Drink Exports

Exports from Costa Rica

Sugary soft drink exports from Costa Rica fell to X litres in 2022, which is down by -9.8% against the year before. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +12.1% against 2020 indices. The growth pace was the most rapid in 2013 when exports increased by 108% against the previous year. As a result, the exports attained the peak of X litres. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, sugary soft drink exports declined to $X in 2022. Overall, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +13.9% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by 109%. Over the period under review, the exports hit record highs at $X in 2021, and then reduced in the following year.

Exports by Country

Panama (X litres) was the main destination for sugary soft drink exports from Costa Rica, with a 68% share of total exports. Moreover, sugary soft drink exports to Panama exceeded the volume sent to the second major destination, Nicaragua (X litres), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Panama stood at +14.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-1.7% per year) and Guatemala (+12.8% per year).

In value terms, Panama ($X), Nicaragua ($X) and Guatemala ($X) were the largest markets for sugary soft drink exported from Costa Rica worldwide, with a combined 99% share of total exports.

Among the main countries of destination, Panama, with a CAGR of +11.8%, recorded the highest rates of growth with regard to 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 sugary soft drink export price amounted to $X per litre, approximately equating the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2015 an increase of 9.2% against the previous year. The export price peaked at $X per litre in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($X per litre), while the average price for exports to Panama ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+6.7%), while the prices for the other major destinations experienced a decline.

Sugary Soft Drink Imports

Imports into Costa Rica

Sugary soft drink imports into Costa Rica dropped to X litres in 2022, shrinking by -6.6% compared with the previous year. In general, imports continue to indicate a perceptible decrease. The growth pace was the most rapid in 2014 with an increase of 32% against the previous year. As a result, imports reached the peak of X litres. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, sugary soft drink imports declined to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 61% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nicaragua (X litres), the United States (X litres) and Colombia (X litres) were the main suppliers of sugary soft drink imports to Costa Rica, together accounting for 91% of total imports. The UK and Guatemala lagged somewhat behind, together comprising a further 3.4%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +154.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), Nicaragua ($X) and the UK ($X) appeared to be the largest sugary soft drink suppliers to Costa Rica, together accounting for 89% of total imports.

The UK, with a CAGR of +123.7%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sugary soft drink import price stood at $X per litre in 2022, which is down by -6.9% against the previous year. Overall, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sugary soft drink import price increased by +15.0% against 2015 indices. The most prominent rate of growth was recorded in 2015 when the average import price increased by 31% against the previous year. Over the period under review, average import prices reached the maximum at $X per litre in 2021, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per litre), while the price for Colombia ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform