Executive Summary

Nov 2019
PROSPECTS
Functional oils benefit from health and wellness focus

More functional products continue to gain momentum based on ongoing health and wellness trends, with both olive oil and coconut oil gaining further penetration across a broader base of local middle-income consumers, particularly millennials. More affordable value products coming from Asian countries (such as the Philippines and Sri Lanka) continued to bring coconut oil unit prices down, benefiting broader levels of penetration, while affecting the performance of smaller-scale local producers, which have higher operational costs.

Denomination of origin and health claims continue to boost edible oils

Multiple types of vegetable oil products, ranging from soy, canola, sunflower, oil palm to corn, continue to make efforts to improve their perception as healthy alternatives among local middle-income consumers, using traditional omega 3 content, cholesterol free, no transfats and all-natural claims in order to incentivise demand. Pricing competition and point-of-sale availability continued to gain momentum, particularly as modern retailers’ direct imports continue to bring unit prices down, making it hard to maintain consumer preference for branded products based on top-of-mind awareness.

Added-value imports with good prospects

Further opportunities are anticipated for affordable added-value imported products over the forecast period. This has already been seen in the case of certified organic olive and coconut oils, with warehouse retailer PriceSmart continuing to take the lead with these types of value proposals.

COMPETITIVE LANDSCAPE
Cía Numar SA, Coopeagropal RL, Inolasa and Wal-Mart account for three quarters of edible oil sales

Local and regional players such as Cía Numar SA, Coopeagropal RL and Inolasa continued to lead edible oils in Costa Rica, benefiting from vertically integrated business models with a local and regional presence. This allows them to make economies of scale savings based on their own palm oil plantations and processing and distribution operations.

Supermarkets’ imports help increase added-value offering in edible oils

Supermarkets’ direct imports continued to open up new opportunities for added-value products as seen with the PriceSmart organic lines Carrington Farms (coconut oil) and Terra Creta (Olive oil). It is a similar scenario with Automercado’s olive oil line Carbonell, which has different types of segmentation levels based on olive types and organic options.

Further development of organic and functional products expected

New development opportunities are foreseen for affordable added-value products, functional edible oil mixes and organic products over the forecast period. Organic certification and multiple types of functional health claims in oils are expected to continue driving middle- and upper-income consumer preferences over the next five years.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Edible Oils 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 Edible Oils industry in Costa Rica, our research will save you time and money while empowering you to make informed, profitable decisions.

The Edible Oils 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 Edible Oils 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?
  • Gain competitive intelligence about market leaders
  • 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

Packaged Food market research database.

Edible Oils in Costa Rica - Category analysis

HEADLINES

PROSPECTS

Functional oils benefit from health and wellness focus
Denomination of origin and health claims continue to boost edible oils
Added-value imports with good prospects

COMPETITIVE LANDSCAPE

Cía Numar SA, Coopeagropal RL, Inolasa and Wal-Mart account for three quarters of edible oil sales
Supermarkets’ imports help increase added-value offering in edible oils
Further development of organic and functional products expected

CATEGORY DATA

Table 1 Sales of Edible Oils by Category: Volume 2014-2019
Table 2 Sales of Edible Oils by Category: Value 2014-2019
Table 3 Sales of Edible Oils by Category: % Volume Growth 2014-2019
Table 4 Sales of Edible Oils by Category: % Value Growth 2014-2019
Table 5 NBO Company Shares of Edible Oils: % Value 2015-2019
Table 6 LBN Brand Shares of Edible Oils: % Value 2016-2019
Table 7 Distribution of Edible Oils by Format: % Value 2014-2019
Table 8 Forecast Sales of Edible Oils by Category: Volume 2019-2024
Table 9 Forecast Sales of Edible Oils by Category: Value 2019-2024
Table 10 Forecast Sales of Edible Oils by Category: % Volume Growth 2019-2024
Table 11 Forecast Sales of Edible Oils by Category: % Value Growth 2019-2024

Packaged Food in Costa Rica - Industry Overview

EXECUTIVE SUMMARY

Increasing segmentation and new value-added products
Functional ingredients and new value-for-money products set the pace
New added-value products and Wal-Mart’s Great Value range gain presence
Modern grocery retailers keep gaining ground
Convenient, affordable and healthier options to help drive growth

FOODSERVICE

Sales to Foodservice
Further consolidation based on additional economy-of-scale savings
Mayca expanding its new self-service model
Technological innovations and new distribution centres set to further consolidate foodservice sales

CATEGORY DATA

Table 12 Foodservice Sales of Packaged Food by Category: Volume 2014-2019
Table 13 Foodservice Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 14 Forecast Foodservice Sales of Packaged Food by Category: Volume 2019-2024
Table 15 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2019-2024

MARKET DATA

Table 16 Sales of Packaged Food by Category: Volume 2014-2019
Table 17 Sales of Packaged Food by Category: Value 2014-2019
Table 18 Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 19 Sales of Packaged Food by Category: % Value Growth 2014-2019
Table 20 GBO Company Shares of Packaged Food: % Value 2015-2019
Table 21 NBO Company Shares of Packaged Food: % Value 2015-2019
Table 22 LBN Brand Shares of Packaged Food: % Value 2016-2019
Table 23 Penetration of Private Label by Category: % Value 2014-2019
Table 24 Distribution of Packaged Food by Format: % Value 2014-2019
Table 25 Distribution of Packaged Food by Format and Category: % Value 2019
Table 26 Forecast Sales of Packaged Food by Category: Volume 2019-2024
Table 27 Forecast Sales of Packaged Food by Category: Value 2019-2024
Table 28 Forecast Sales of Packaged Food by Category: % Volume Growth 2019-2024
Table 29 Forecast Sales of Packaged Food by Category: % Value Growth 2019-2024

DEFINITIONS

SOURCES

Summary 1 Research Sources