Food - Costa Rica

Costa Rica

Revenue in the Food market amounts to US$8.96bn in 2024. The market is expected to grow annually by 5.93% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$2.01bn in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$1,707.00 are generated in 2024.
In the Food market, 2.5% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 2,463.00m kg by 2029. The Food market is expected to show a volume growth of 3.5% in 2025.
The average volume per person in the Food market is expected to amount to 409.10kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Food market in Costa Rica is experiencing minimal growth, influenced by factors such as consumer health awareness, convenience of online services, and the growing adoption of digital technologies. The market is composed of sub-markets such as Dairy Products & Eggs, Meat, Fish & Seafood, Fruits & Nuts, Vegetables, Bread & Cereal Products, Oils & Fats, Sauces & Spices, Convenience Food, Spreads & Sweeteners, Confectionery & Snacks, Baby Food, Pet Food, Processed Vegetables, Fruit & Potatoes, and Pasta & Rice, which contribute to its overall performance.

Customer preferences: As Costa Rica's population becomes more health-conscious, there has been a noticeable increase in demand for organic and locally-sourced food products. This trend is driven by a growing awareness of the benefits of sustainable and healthy eating, as well as a desire to support local farmers and businesses. Additionally, the rise of social media and influencer culture has also influenced consumer preferences, with a growing interest in trying new and exotic food trends from around the world. This has led to a diversification of The Food market in Costa Rica, with a wider variety of international cuisines becoming more readily available.

Trends in the market: In Costa Rica, The Food market industry is seeing a shift towards healthier and more sustainable food options. This trend is being driven by consumer demand for ethically sourced and environmentally friendly products. As a result, there has been a rise in the availability of organic and locally sourced foods in supermarkets and restaurants. This trend is expected to continue as consumers become more conscious of their food choices and their impact on the environment. For industry stakeholders, this presents an opportunity to tap into the growing demand for sustainable food products and differentiate themselves in the market. It also highlights the need for businesses to incorporate sustainability into their operations to remain competitive in the long run.

Local special circumstances: In Costa Rica, The Food market is heavily influenced by the country's rich agricultural industry and diverse food culture. The fertile land and tropical climate allow for a wide variety of fruits and vegetables to be grown, making the country self-sufficient in food production. Additionally, Costa Rican cuisine is a fusion of Spanish, indigenous, and Afro-Caribbean influences, creating a unique food culture that attracts tourists and drives local demand. The government also plays a role in regulating the market, promoting sustainable farming practices and supporting local producers.

Underlying macroeconomic factors: The Food market in Costa Rica is heavily impacted by macroeconomic factors such as the country's economic growth, government policies, and global economic trends. Costa Rica's strong economic growth and stable political climate have created a favorable environment for The Food market, leading to increased demand and investment in the sector. Additionally, the country's focus on sustainable agriculture and organic farming has gained attention in the global market, further driving growth. However, fluctuations in global commodity prices and trade policies can also affect The Food market in Costa Rica, highlighting the importance of monitoring macroeconomic factors in this industry.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.