Snacks is set to see healthy growth in retail volume sales in 2023. Despite difficult economic conditions and rising prices, demand for snacks will remain healthy with falling unemployment acting in support.
According to industry sources, the container segment is set to see weaker earnings due to the stabilisation of freight rates. This will also culminate from risks such as the possibility of a tougher-than-expected recession, pandemic-related lockdowns in China, and pressures from the war in Ukraine.
The working-class community in Panama typically consumes three meals per day, consisting of breakfast, lunch and dinner. Breakfast is usually fried and includes products such as eggs, tortillas (corn based), carimañola (a yuca- and meat-based pie), bread, empanadas and hojaldra (a flour-based fried bread).
According to the IMF, Panama’s GDP grew 11% in 2022, and is expected to grow by 4.4% in 2023, which will make it the fastest growing economy in Latin America.
Panama forms the longest and most slender section of the isthmus, which divides Central America from South America, and extends in an S-shape, some 700km from east to west, between Costa Rica and Colombia. The land is traversed by the Panama Canal, the all-important marine link that connects the Caribbean Sea (and thus the Atlantic Ocean) with the Pacific Ocean.
Raw materials and fuel price increases are expected to continue until global supply issues are resolved or improve. Thus, consumption levels are expected to moderate in the early years of the forecast period in response to the erosion of disposable incomes.
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Understand the latest market trends and future growth opportunities for the Snacks industry in Panama with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Snacks industry in Panama, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Snacks
This report originates from Passport, our Snacks research and analysis database.
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