Costa Rica: Vanilla Market 2025

Vanilla Market Size in Costa Rica

After three years of growth, the Costa Rican vanilla market decreased by -17.1% to $X in 2022. In general, consumption, however, saw a significant increase. Over the period under review, the market attained the peak level at $X in 2021, and then fell notably in the following year.

Vanilla Exports

Exports from Costa Rica

In 2022, the amount of vanilla exported from Costa Rica surged to X tons, with an increase of 16% on 2021. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 39,900%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, vanilla exports rose modestly to $X in 2022. In general, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 3,231% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

El Salvador (X tons) was the main destination for vanilla exports from Costa Rica, accounting for a 66% share of total exports. Moreover, vanilla exports to El Salvador exceeded the volume sent to the second major destination, Nicaragua (X kg), threefold. The third position in this ranking was held by the United States (X kg), with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume to El Salvador amounted to +103.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (+85.1% per year) and the United States (+56.7% per year).

In value terms, the largest markets for vanilla exported from Costa Rica were the Netherlands ($X), El Salvador ($X) and Nicaragua ($X), together accounting for 76% of total exports.

In terms of the main countries of destination, the Netherlands, with a CAGR of +85.6%, 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 vanilla export price amounted to $X per ton, shrinking by -10.2% against the previous year. In general, the export price faced a deep setback. The growth pace was the most rapid in 2016 an increase of 129% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat 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 the Netherlands ($X per ton), while the average price for exports to Nicaragua ($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 Belgium (+276.2%), while the prices for the other major destinations experienced more modest paces of growth.

Vanilla Imports

Imports into Costa Rica

In 2022, after five years of growth, there was significant decline in supplies from abroad of vanilla, when their volume decreased by -5% to X tons. In general, imports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 2,780%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, vanilla imports totaled $X in 2022. Overall, imports, however, recorded significant growth. The pace of growth appeared the most rapid in 2016 when imports increased by 2,543% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) was the main vanilla supplier to Costa Rica, with a approx. 99.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +63.6%.

In value terms, the United States ($X) constituted the largest supplier of vanilla to Costa Rica, comprising 98% of total imports. The second position in the ranking was held by France ($X), with a 2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +79.3%.

Import Prices by Country

In 2022, the average vanilla import price amounted to $X per ton, growing by 5.7% against the previous year. In general, the import price recorded a remarkable increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 2,628% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +9.7% per year.

Source: IndexBox Platform