Increasing demand, new competitors of all kinds and the manufacture of uncertified products are some of the changes that this business is bringing to the pandemic scenario in Costa Rica.
According to CentralAmericaData reports, in Costa Rica since January 5, 2020 the interactions on the Internet associated with cleaning products show a clear upturn.
Companies in the disposable plastic manufacturing sector have the capacity to replace all their production with environmentally friendly options, but the main obstacle is the limited capacity that customers must pay the surcharge for bioplastics.
In Costa Rica, some 31 companies indicated that they have the capacity to replace all their production with user-friendly options, the main limitations being the low capacity of customers to pay the surcharge for bioplastics and the restrictions on the functionality of the alternatives.
Because there are customers who demand gluten-free food, vegan food or dishes that adapt to the ketogenic diet, companies in Costa Rica can exploit new market niches.
The number of consumers who demand specialized food is rising in the Costa Rican market, so some restaurants have changed their menus to meet the demands of customers.
Last year, bottled water sales in Costa Rica were estimated at $89 million and they are expected to increase up to $106 million in 2023, a behavior explained by the downward trend in the consumption of carbonated beverages.
Although companies such as Florida Ice & Farm Co (Fifco) and Coca Cola Femsa have the opportunity to grow in the Costa Rican market, they will also face competition from new entrants such as Premium Brands.
The growing preference for freshly prepared foods meeting the demands of health-conscious consumers explains the niche market that is developing in Costa Rica.
Some of the companies which have found a niche market in the preparation of gourmet food specialized in the country, have emerged in response to the lack of time for people to cook and the need that several consumers have to meet the goals they define together with nutrition professionals.
For Costa Rican businessmen, the neighboring country is a very important market, since it is dedicated to logistics, trade and financial intermediation, and demands different types of goods produced by Costa Rica.
In 2018 Costa Rican exports to the Panamanian market totaled $606 million, which positioned Panama as the fourth most important destination for foreign sales, surpassed only by the United States, Holland and Belgium.
Explained by better promotional efforts, the proportion of Costa Rican SMEs that export to Asian, South American and Caribbean countries continues to grow.
According to the Foreign Trade Promotion Office (Procomer), last year 86% of companies that sold goods in South America were SMEs, in the case of Asia the proportion reached 81% and for the Caribbean it was 80%.
Gymnasiums and specialized nursing home services and supplies are some of the niche markets that private companies have started to explore in Costa Rica.
The market segment composed of older adults is becoming increasingly important for businesses, as longevity increases and there is a growing demand for services and specialized care.The market potential is reflected in the figures published by the National Institute of Statistics and Census (INEC), which state that x
In four years Costa Rica has doubled its exports of frozen fruit, going from sales of $36 million in 2011 to $71 million in 2015.
An article on Elfinancierocr.com reports that the reason for this growth , "... could be a reduction in the supply of these products by Asian businesses, according to the CEO of the company Frutera La Paz, Luisa Chacon."
The European Authority for Food Safety is reviewing in detail allergenic products and substances whose presence in food must be indicated on the label, according to European law.
From a press release by the Costa Rican Foreign Trade Promotion Office (PROCOMER):
The European Food Safety Authority (EFSA) has updated its scientific advice on food allergens. The scientific ruling of the Authority is reviewing in detail allergenic products and substances whose presence in food must be indicated on the label, according to European law. This includes cereals containing gluten, milk, eggs, nuts, peanuts, soy, fish, crustaceans, molluscs, celery, lupine, sesame, mustard and sulphites.
Companies in the coffee sector will go to Taiwan on November 14th to participate in the International Fair of Coffee, Tea and Wine.
For the third consecutive year, with the support of the Council for the Promotion of Foreign Trade of Taiwan companies in the sector will be taking part in the Taiwanese business fair.
In 2013 the export supply of the region in the international market was focused on integrated electronic circuits, coffee, bananas, sugarcane and medical devices.
From a report by the Secretariat of Central American Economic Integration (SIEC):
Diversification of exports is above the thresholds of the largest Latin American exporting economies.
The propensity for a healthier consumption has created opportunities for drinks that prevent diseases.
From an article by the Costa Rican Foreign Trade Promotion Office:
According to the consulting firm Innova Market Insights, within the main trends for 2014 in the market for juices and beverages, is reducing waste in production processes and a greater focus on consumer confidence. Regarding the latter, traceability has been an issue that has constantly been on the agenda of producers and has been used as an important element in promotion.
Unlike European and South American consumers, Asians show a greater willingness to pay more for organic products.
From an article by the Costa Rican Foreign Trade Promotion Office (PROCOMER):
The Spaniards are not willing to pay more for organic products, as is clear from the last Socialogue Report prepared by IPSOS in 24 countries worldwide.
On November 19th, eight Guatemalan companies will travel to the Asian nation with the aim of promoting the sale of Guatemalan coffee and tea.
Prensalibre.com reports: "This is the second mission from Guatemala that will go to Taiwan so far this year and in this activity Guatemala tea will also be offered".
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