Fish & Seafood - Costa Rica

Costa Rica

Highlights

Revenue in the Fish & Seafood market amounts to US$671.10m in 2024. The market is expected to grow annually by 5.77% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$97bn in 2024).
In relation to total population figures, per person revenues of US$127.90 are generated in 2024.
In the Fish & Seafood market, volume is expected to amount to 41.41m kg by 2029. The Fish & Seafood market is expected to show a volume growth of 4.6% in 2025.0.
The average volume per person in the Fish & Seafood market is expected to amount to 6.9kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fish & Seafood Market in Costa Rica has seen minimal growth due to factors such as low consumer health awareness and limited adoption of digital technologies. Online health services may not be as convenient for this market, as it heavily relies on traditional methods of selling and distribution. The sub-markets of Fresh Fish, Fresh Seafood and Processed Fish & Seafood are impacted by the slow growth rate, as consumers prioritize affordability over convenience in this region.

Customer preferences: Consumers in Costa Rica are increasingly turning towards sustainable and ethically-sourced seafood options, as awareness of the environmental impact of overfishing grows. This trend is also influenced by the country's strong fishing culture and traditional reliance on seafood as a staple food. As a result, there has been a rise in demand for certified sustainable seafood products and a push for stricter regulations on commercial fishing practices. Additionally, there is a growing interest in locally-sourced seafood, as consumers prioritize supporting small-scale fishermen and reducing the carbon footprint of imported seafood.

Trends in the market: In Costa Rica, the Fish & Seafood Market is experiencing a rising demand for sustainably-sourced and locally-caught seafood. This trend is driven by a growing awareness of the environmental impact of overfishing and a desire for fresher, healthier options. Industry stakeholders are responding by investing in sustainable fishing practices and promoting traceability and transparency in their supply chains. This trend is significant as it not only addresses environmental concerns, but also caters to consumer preferences for ethically-sourced and healthier seafood options. Potential implications include increased competition for sustainable seafood sources and a need for innovative solutions to meet consumer demands.

Local special circumstances: In Costa Rica, the Fish & Seafood Market is heavily influenced by the country's unique geographical location as a coastal nation. The abundant access to a variety of fish and seafood species from the Pacific and Caribbean oceans drives the market. Additionally, Costa Rica's sustainable fishing practices and focus on eco-tourism have created a demand for ethically sourced and environmentally friendly seafood products. These factors contribute to the dynamic growth of the Fish & Seafood Market in Costa Rica, setting it apart from other markets in The Food market industry.

Underlying macroeconomic factors: The Fish & Seafood Market within The Food market in Costa Rica is significantly impacted by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The country's strong focus on sustainable fishing practices has led to a surge in demand for eco-friendly seafood products, boosting market growth. Additionally, the government's investments in infrastructure and efforts to promote the country as a major seafood exporter have further propelled market growth. However, challenges such as rising production costs and dependence on imports for certain seafood products may hinder market growth.

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.