Bottled Water - Costa Rica

Costa Rica

Highlights

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Bottled Water market amounts to US$676.50m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$258.10m in 2024.
Revenue, combined amounts to US$934.60m in 2024.
The revenue, at home is expected to grow annually by 3.35% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated China (US$63bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$128.90 are generated in 2024.
In the Bottled Water market, volume, at home is expected to amount to 435.40m L by 2024.
Volume, out-of-home is expected to amount to 57.85m L in 2024.
Volume, combined is expected to amount to 493.30m L in 2024.
The Bottled Water market is expected to show a volume growth, at home of 0.9% in 2025.0.
The average volume per person, at home in the Bottled Water market is expected to amount to 82.99L in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Bottled Water market in Costa Rica has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Costa Rican consumers are increasingly opting for bottled water as their preferred choice of beverage. This can be attributed to several factors. Firstly, there is a growing concern about the quality of tap water, with many consumers perceiving bottled water to be safer and more reliable. Additionally, the convenience and portability of bottled water make it an attractive option for on-the-go consumption. Furthermore, health-conscious consumers are choosing bottled water as a healthier alternative to sugary drinks.

Trends in the market: One of the key trends in the bottled water market in Costa Rica is the increasing demand for premium and functional bottled water. Consumers are willing to pay a premium for bottled water that offers additional benefits such as enhanced flavors, electrolytes, or vitamins. This trend is driven by a desire for healthier and more functional beverages. Additionally, there is a growing trend towards sustainability and eco-friendly packaging in the bottled water market. Consumers are becoming more conscious of the environmental impact of single-use plastic bottles and are seeking alternatives such as biodegradable or recyclable packaging.

Local special circumstances: Costa Rica's tropical climate and tourism industry contribute to the growth of the bottled water market. The country's warm weather and high humidity levels make bottled water a necessity for both locals and tourists. Additionally, the tourism industry drives the demand for bottled water as tourists often prefer to drink bottled water to avoid any potential health risks associated with unfamiliar tap water. The popularity of eco-tourism in Costa Rica also contributes to the demand for sustainable and eco-friendly bottled water options.

Underlying macroeconomic factors: Costa Rica's stable economy and rising disposable incomes have played a significant role in the growth of the bottled water market. As the country's middle class expands, consumers have more purchasing power and are willing to spend on premium and healthier beverages. Additionally, the government's efforts to improve access to clean drinking water in rural areas have not been fully successful, leading to an increased reliance on bottled water. In conclusion, the Bottled Water market in Costa Rica is experiencing growth due to changing customer preferences, including concerns about tap water quality and a desire for healthier options. The market is also influenced by local special circumstances such as the country's tropical climate, tourism industry, and the popularity of eco-tourism. Furthermore, underlying macroeconomic factors such as a stable economy and rising disposable incomes contribute to the growth of the market. Overall, these factors indicate a positive outlook for the bottled water market in Costa Rica.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

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 (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level 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 Non-Alcoholic Drinks 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.