The spirits category in Costa Rica is slated to register modest growth over the forecast period; however, it will take time for market conditions to normalise. While 2023 saw a strong slowdown in terms of inflation, with many items experiencing deflation by the end of the year, higher prices have proven to be sticky and have remained considerably above pre-pandemic levels.
Until market conditions normalise and salaries are adjusted to the more expensive environment that now characterises the country, sales of premium spirits will be impacted. Higher-priced drinks, especially whisky and rum, have already experienced strong volume decline as many consumers have reduced their spending or switched to cheaper alternatives.
English gin has been performing very well in Costa Rica and this is expected to continue throughout the forecast period. Imported gin brands are increasingly popular and fashionable among more affluent consumers in the country, and a variety of imported options are now available across a range of price points, appealing to a broader consumer base.
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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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Spirits
This is the aggregation of whisk(e)y, brandy and Cognac, white spirits, rum, tequila, liqueurs and other spirits.
See All of Our DefinitionsThis report originates from Passport, our Spirits research and analysis database.
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