Other Oils & Fats - Costa Rica | Statista Market Forecast

Revenue in the Other Oils & Fats market amounts to US$79.42m in 2024. The market is expected to grow annually by 6.42% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$2bn in 2024).
In relation to total population figures, per person revenues of US$15.14 are generated in 2024.
In the Other Oils & Fats market, volume is expected to amount to 13.95m kg by 2029. The Other Oils & Fats market is expected to show a volume growth of 3.4% in 2025.0.
The average volume per person in the Other Oils & Fats market is expected to amount to 2.3kg in 2024.

Definition:

The Other Oils & Fats market covers lard and other edible animal fats, such as fat from cattle, buffaloes, sheep, goats, poultry, fats and fish oils.

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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Lard
Other animal fats
Duck and chicken fats
Fish oils, liver fish oils, fish fats

Butter
Margarine
Vegetable oils
Olive oils
Out-of-home consumption

The Other Oils & Fats Market in Costa Rica is experiencing minimal growth, influenced by factors such as market saturation, limited innovation in product offerings, and changing consumer preferences towards healthier alternatives and sustainable sourcing.

Customer preferences: In Costa Rica, there is a noticeable shift towards plant-based oils and fats as consumers become more health-conscious and environmentally aware. This trend is fueled by a younger demographic prioritizing sustainability and wellness, leading to increased demand for organic and non-GMO products. Additionally, traditional cooking practices are evolving, with many households embracing healthier cooking methods, such as air frying and steaming, which further drives interest in lighter oils. Consequently, brands are adapting their offerings to align with these changing preferences, focusing on transparency and ethical sourcing.

Trends in the market: In Costa Rica, the Other Oils & Fats market is experiencing a significant shift towards plant-based alternatives, driven by consumer demand for healthier and more sustainable options. As more individuals adopt vegan and vegetarian diets, there is a rising interest in oils derived from nuts, seeds, and avocados. Additionally, the popularity of local, artisanal producers is growing, as consumers seek authentic and ethically sourced products. This trend is prompting established brands to reformulate their products and enhance transparency in sourcing. Industry stakeholders must adapt to these evolving preferences to remain competitive and cater to a more conscientious consumer base.

Local special circumstances: In Costa Rica, the Other Oils & Fats market is influenced by the country's rich biodiversity and agricultural practices, which promote the cultivation of unique oil sources like palm, coconut, and various nuts. The cultural emphasis on sustainability and local sourcing aligns with a growing consumer preference for organic and ethically produced oils. Furthermore, government regulations encouraging eco-friendly farming practices bolster the market for plant-based alternatives. As health awareness rises, these local dynamics are reshaping product offerings and consumer engagement in the oils and fats sector.

Underlying macroeconomic factors: The Other Oils & Fats market in Costa Rica is significantly influenced by macroeconomic factors such as global commodity prices, trade agreements, and domestic economic stability. The country's reliance on agricultural exports means fluctuations in the global market can directly impact local oil production costs and pricing strategies. Additionally, national economic health, characterized by GDP growth and inflation rates, affects consumer purchasing power and demand for premium oils. Fiscal policies promoting sustainable agriculture and investment in local farming initiatives further enhance market potential, aligning with global sustainability trends and increasing consumer interest in ethically sourced products.

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.