Executive Summary

Aug 2017
TRENDS

In spite of being considered a very mature category with little room for additional innovation, in 2017 there was a rising entry of new value proposals within butter and margarine, including higher-end imported brands such as the Danish Lurpak and the American Crystal Farms, developing more interest amongst a widening base of middle- and higher-income consumers, whilst the local Dos Pinos focused on attending the needs of lower-income buyers with more economic line extensions, using the popularity of its Coronado brand to maintain its strong dominance in butter sales. This was very similar to what we saw in margarine performance where imported brands such as Parkay and Blue Bonnet kept gaining shelf space at modern grocery retailers (which as in the case of Walmart also acts as a direct importer of the brand), whilst other added-value imported alternatives also keep being launched at higher-end local supermarket chains such as Automercado.

COMPETITIVE LANDSCAPE

In 2017, Cía Numar maintained its strong leadership in butter and margarine in Costa Rica with a 64% retail value share. This regional manufacturer continued to benefit from its developed economy-of-scale savings and vertically integrated business model which ranges from palm plantations to the marketing and distribution of multiple categories, allowing it to position its brand Numar as the top-of-mind reference within the margarine and spreads offer, reaching consumers from all socioeconomic segments though very competitive unit prices and broad availability. Ranking second, RL Cooperativa de Productos de Leche Dos Pinos remained the main reference within local butter sales (accounting for a 19% value share), taking advantage of its economy-of-scale savings and consolidated brand position throughout all dairy categories and ice cream.

PROSPECTS

Butter and margarine is expected to record a 3% value CAGR at constant 2017 prices over the forecast period, slower than the corresponding 4% constant value CAGR achieved during the review period. This scenario can be explained by a combination of mature growth rates in volume terms and the rising orientation towards priced-based competition, as in spite of the emergence of added-value products –especially those with improved health and functional claims – will only be capable of reaching higher-income consumers, having a marginal effect on the overall category’s value performance by 2022.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Butter and Margarine industry in Costa Rica with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Butter and Margarine industry in Costa Rica, our research will save you time and money while empowering you to make informed, profitable decisions.

The Butter and Margarine in Costa Rica market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Butter and Margarine in Costa Rica?
  • What are the major brands in Costa Rica?
  • Are consumers in emerging markets moving from unpackaged to packaged oils and fats?
  • What are the sales prospects for “healthy” cooking oils?
  • Will retail sales suffer as economic prospects improve and consumers move back to eating out rather than cooking at home?
Why buy this report?
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  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our:

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Butter and Margarine in Costa Rica - Company Profiles