Costa Rica: Vinegar Market 2024

Vinegar Market Size in Costa Rica

The Costa Rican vinegar market reached $X in 2023, with an increase of X% against the previous year. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Vinegar Production in Costa Rica

In value terms, vinegar production soared to $X in 2023 estimated in export price. Over the period under review, production continues to indicate tangible growth. The growth pace was the most rapid in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Vinegar Exports

Exports from Costa Rica

In 2023, after five years of growth, there was significant decline in shipments abroad of vinegar, when their volume decreased by X% to X tons. Over the period under review, exports, however, saw significant growth. The growth pace was the most rapid in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2022, and then shrank remarkably in the following year.

In value terms, vinegar exports dropped significantly to $X in 2023. In general, exports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2016 when exports increased by X%. The exports peaked at $X in 2022, and then contracted notably in the following year.

Exports by Country

Nicaragua (X tons) was the main destination for vinegar exports from Costa Rica, with a X% share of total exports. Moreover, vinegar exports to Nicaragua exceeded the volume sent to the second major destination, Guatemala (X tons), twofold. Honduras (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Nicaragua amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and Honduras (X% per year).

In value terms, Nicaragua ($X) remains the key foreign market for vinegar exports from Costa Rica, comprising X% of total exports. The second position in the ranking was held by Guatemala ($X), with a X% share of total exports. It was followed by Honduras, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Nicaragua totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and Honduras (X% per year).

Export Prices by Country

The average vinegar export price stood at $X per ton in 2023, surging by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2023, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2023, amid the top suppliers, the highest price was recorded for prices to Guatemala ($X per ton) and El Salvador ($X per ton), while the average price for exports to Nicaragua ($X per ton) and Honduras ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vinegar Imports

Imports into Costa Rica

After two years of growth, purchases abroad of vinegar decreased by X% to X tons in 2023. Over the period under review, total imports indicated a prominent expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2016 when imports increased by X%. Imports peaked at X tons in 2022, and then contracted in the following year.

In value terms, vinegar imports contracted to $X in 2023. In general, imports, however, recorded strong growth. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2022, and then fell in the following year.

Imports by Country

Panama (X tons), the United States (X tons) and Italy (X tons) were the main suppliers of vinegar imports to Costa Rica, together accounting for X% of total imports. These countries were followed by Mexico, which accounted for a further X%.

From 2012 to 2023, the biggest increases were recorded for Mexico (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of vinegar to Costa Rica, comprising X% of total imports. The second position in the ranking was taken by Panama ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (X% per year) and Italy (X% per year).

Import Prices by Country

In 2023, the average vinegar import price amounted to $X per ton, with a decrease of X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2020 an increase of X%. The import price peaked at $X per ton in 2022, and then fell modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Panama ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Panama (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform