Spirits registered a decline in volume sales for the second year running, mainly due to supply issues of Costa Rica’s most popular spirit, guaro (see below). However, premium spirits performed well in 2021, with Tequila (and mezcal) being the strongest performers.
Shortages of inward shipping containers led to a shortage of key materials for productions of local spirits including gauro. There were major delays with shipments from Asia, but routes from Mexico, USA and Europe were also affected.
There continued to be plenty of dynamism in 2021, with new extensions of imported brands, including innovative flavours. Innovations are typically targeted at mature, affluent millennial consumers, capable of affording the price premium for new experiences.
Spirits will register moderate volume growth over the forecast period. The return of tourists should benefit the sector, as duty free sales in airport and tourist areas are an important source of sales, particularly for local spirits.
The creation of brand- and spirits-related online content is expected to accelerate and open new retailing possibilities for spirits over the forecast period. E-commerce remained a niche for spirit sales during 2021, but is set to grow strongly.
There is also an opportunity for spirits to launch spirit-based RTDs, as this a growing segment in Costa Rica. Fanal already seized this opportunity and launched a guaro-based tropical flavoured RTD during the review period that has proved very popular.
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Understand the latest market trends and future growth opportunities for the Spirits industry in Costa Rica with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregation of whisk(e)y, brandy and Cognac, white spirits, rum, tequila, liqueurs and other spirits.See All of Our Definitions
This report originates from Passport, our Spirits research and analysis database.
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