Costa Rica - Whey - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCosta Rica: Whey Market 2024
Whey Market Size in Costa Rica
The Costa Rican whey market expanded notably to $X in 2022, increasing by 11% 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). The market value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.
Whey Exports
Exports from Costa Rica
In 2022, shipments abroad of whey decreased by -23% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, posted tangible growth. The most prominent rate of growth was recorded in 2020 with an increase of 875% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then fell markedly in the following year.
In value terms, whey exports fell notably to $X in 2022. Over the period under review, exports, however, showed a slight increase. The most prominent rate of growth was recorded in 2020 with an increase of 784% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.
Exports by Country
Guatemala (X tons) was the main destination for whey exports from Costa Rica, with a 71% share of total exports. Moreover, whey exports to Guatemala exceeded the volume sent to the second major destination, Nicaragua (X tons), threefold.
From 2012 to 2022, the average annual growth rate of volume to Guatemala stood at +48.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-9.1% per year) and Panama (+74.7% per year).
In value terms, Guatemala ($X) remains the key foreign market for whey exports from Costa Rica, comprising 78% of total exports. The second position in the ranking was held by Nicaragua ($X), with a 16% share of total exports.
From 2012 to 2022, the average annual growth rate of value to Guatemala totaled +42.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (-15.3% per year) and Panama (+54.0% per year).
Export Prices by Country
In 2022, the average whey export price amounted to $X per ton, dropping by -7.6% against the previous year. Over the period under review, the export price saw a noticeable reduction. The pace of growth appeared the most rapid in 2019 when the average export price increased by 48% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($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 Guatemala (-3.9%), while the prices for the other major destinations experienced a decline.
Whey Imports
Imports into Costa Rica
In 2022, whey imports into Costa Rica soared to X tons, increasing by 22% on the previous year. Over the period under review, total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.7% 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 -15.3% against 2020 indices. The growth pace was the most rapid in 2015 when imports increased by 34%. Over the period under review, imports reached the peak figure at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.
In value terms, whey imports stood at $X in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 22% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.
Imports by Country
In 2022, the United States (X tons) constituted the largest whey supplier to Costa Rica, with a 60% share of total imports. Moreover, whey imports from the United States exceeded the figures recorded by the second-largest supplier, Chile (X tons), fivefold. The third position in this ranking was held by Canada (X tons), with a 7.5% share.
From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+28.4% per year) and Canada (+5.0% per year).
In value terms, the United States ($X) constituted the largest supplier of whey to Costa Rica, comprising 66% of total imports. The second position in the ranking was held by Chile ($X), with an 8.8% share of total imports. It was followed by Canada, with a 5.9% share.
From 2012 to 2022, the average annual growth rate of value from the United States amounted to +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+24.0% per year) and Canada (-1.2% per year).
Import Prices by Country
The average whey import price stood at $X per ton in 2022, declining by -13% against the previous year. Over the period under review, the import price saw a pronounced decrease. The growth pace was the most rapid in 2021 an increase of 28%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+39.8%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
This report provides an in-depth analysis of the whey market in Costa Rica. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 890 - Whey, Condensed
- FCL 900 - Dry Whey
Country coverage:
- Costa Rica
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Costa Rica
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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