Margarine - Costa Rica | Statista Market Forecast

Revenue in the Margarine market amounts to US$95.97m in 2024. The market is expected to grow annually by 5.72% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$5bn in 2024).
In relation to total population figures, per person revenues of US$18.29 are generated in 2024.
In the Margarine market, volume is expected to amount to 28.19m kg by 2029. The Margarine market is expected to show a volume growth of 3.5% in 2025.0.
The average volume per person in the Margarine market is expected to amount to 4.71kg in 2024.

Definition:

Margarine is a butter substitute made from vegetable oils and contains a minimum of 80% fat. Margarine is typically less expensive and has less saturated fat than butter.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), 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.

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Regular margarine
Light or reduced-fat margarine
Soft margarine
Non-hydrogenated margarine
Cholesterol-free margarine
Vanaspati

Butter
Vegetable oils
Animal fats (e.g. lard)
Peanut butter
Out-of-home consumption

The Margarine Market within the Oils & Fats segment in Costa Rica is experiencing minimal growth. This stagnation is influenced by shifting consumer preferences towards healthier alternatives, coupled with economic factors affecting purchasing power and product innovation.

Customer preferences: Consumers in Costa Rica are gravitating towards plant-based and organic alternatives, reflecting a broader trend of health consciousness and environmental sustainability. This shift is particularly pronounced among younger demographics who prioritize clean labels and natural ingredients. Additionally, cultural influences are leading to an increased interest in traditional fats, such as avocado and coconut oil, as healthier options. As lifestyle factors evolve, convenience and multifunctionality in food products are becoming essential, prompting innovation in the margarine sector to adapt to these preferences.

Trends in the market: In Costa Rica, the Margarine Market within the Oils & Fats sector is experiencing a notable shift towards plant-based alternatives, driven by heightened consumer awareness regarding health and sustainability. Younger consumers are particularly inclined to seek out products with clean labels and natural ingredients, propelling brands to innovate their offerings. Additionally, traditional fats, such as avocado and coconut oil, are gaining popularity as healthier choices. This trend signifies a broader movement towards multifunctional food products, compelling industry stakeholders to adapt their strategies to meet evolving consumer preferences and enhance product accessibility.

Local special circumstances: In Costa Rica, the Margarine Market within the Oils & Fats sector is uniquely influenced by the country's rich agricultural heritage and the growing emphasis on sustainability. The abundance of local crops, such as palm oil and various tropical fruits, encourages the development of regionally sourced products. Moreover, Costa Rican culinary traditions emphasize fresh, natural ingredients, fostering a cultural preference for healthier food options. Additionally, government regulations promoting organic farming and sustainable practices further drive the demand for plant-based margarine alternatives, shaping a distinctive market landscape.

Underlying macroeconomic factors: The Margarine Market in Costa Rica is significantly influenced by macroeconomic factors such as the country's economic stability, trade policies, and consumer spending patterns. As Costa Rica enjoys steady economic growth, disposable incomes are rising, leading to increased demand for premium margarine products that align with health-conscious trends. Furthermore, trade agreements facilitate the import of high-quality raw materials, enhancing product diversity. Government incentives for sustainable agriculture promote innovation in plant-based margarine, reflecting a shift towards eco-friendly consumption. Additionally, global trends towards healthier eating and plant-based diets bolster local production, driving competitive dynamics in the oils and fats sector.

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.