Costa Rica

While there is still economic uncertainty, inflationary pressure eases significantly in 2023, even falling into deflation territory for part of the year. This is seen particularly in edible oils, where prices fall after the highs experienced in 2022,…

In 2023, increased socialising and the return to post-pandemic habits support the growth of several OTC categories. However, high inflation and a fluctuating exchange rate continue to create uncertainty. Inflation in Costa Rica was 8.27% in 2022, the…

Persistent inflationary pressures in the country have affected the concentrates category, especially powder concentrates that also saw an increase in the cost of raw materials over the review period. Players largely absorbed these higher production…

The commodities country overview provides comprehensive data on production, consumption and price trends on key commodities markets. The commodities overview in Costa Rica covers production and consumption trends in agricultural commodities, energy…

Longwear products continued to gain popularity across colour cosmetics in Costa Rica in 2023. The resumption of pre-pandemic routines was a key driver of demand, in that appreciation for the convenience of longer-lasting formulas increased as…

In 2023, coffee prices began to normalise in the country, with much slower inflation taking hold from July 2023. Consequently, most consumers began to return to previous consumption patterns, creating a favourable impact on retail volume growth in…

Cigars in Costa Rica recorded another solid performance in retail volume growth terms in 2023. Together with a rapid reduction in domestic inflation, which bolstered purchasing power among the population, the category’s strong showing reflected a…

Despite a significant reduction in domestic inflation, average unit prices for cigarettes in Costa Rica continued to rise in 2023. Indeed, official sources indicate the consumer price index (CPI) for these products increased at a faster rate than in…

Cider/perry continued to be a small product area in terms of value and volume in Costa Rica in 2023. Despite the economic conditions affecting the country, including high inflation in 2022 and most of 2023, cider/perry is in line with strengthening…

Chocolate confectionery in Costa Rica has enjoyed robust growth during the review period. In 2024, it is expected to register healthy current value and volume growth, as a positive economic picture bolsters growth. Chocolate confectionery seen as an…

Current value sales are expected to increase, along with a slight increase in volume sales. While there is still economic uncertainty, as a result of rising inflation, the growth in inflation is expected to ease. That being said, consumers are…

Carbonates saw a surprisingly strong sales performance over the review period, in both the off- and on-trade channels, with volume growth remaining positive for the second consecutive year. Consumers have continued to purchase carbonates as unit…

Current value sales are expected to increase, along with an overall healthy increase in volume sales. While there is still economic uncertainty, as a result of rising inflation, the growth in inflation is expected to ease. That being said, consumers…

This report assesses the business environment in Costa Rica, focusing on the regulatory environment, stability of the financial system, FDI intake, labour market flexibility and skillset, trade openness, mobility infrastructure, ICT adoption and…

Kids' cereals have long been a popular choice among parents, as they offer a convenient and enjoyable breakfast option for their children. In 2023, innovation from established brands is driving consumer interest, such as General Mill’s Trix Bunnies…

Bottled water was fortunate not see the high unit price increases experienced by other soft drinks categories in recent years, leading to steady consumer demand and robust growth in volume terms. Both the off- and on-trade channels enjoyed growth in…

Value sales for bleach continued to slow, and consumers increasingly favoured less toxic home care products. Bleach has been cast in a negative light in terms of environmental and also health impacts. As such, consumers are looking to reduce bleach…

According to official data, beer in Costa Rica recorded a CPI increase in excess of 16% in 2022, which was a sharp increase within the drinks industry. Coupled with the persistent inflationary pressures affecting the economy, consumers were forced to…

Beauty and personal care in Costa Rica recorded a slowdown in total current value sales growth in 2023, but saw total volume sales rebound at an impressive pace following a marginal decline in 2022. These results reflected a rapid reduction in…

During the early stages of the pandemic, bath and shower manufacturers in Costa Rica scrambled to develop new antibacterial varieties and update packaging designs to highlight the germ-killing capabilities of established products. This trend was…