In 2024 cooking ingredients and meals performed well, despite several challenges, including drought in the Panama Canal, which caused an increase in transit times, reduced container productivity and led to product shortages and price hikes. As a result, many consumers began downtrading and reduced unnecessary expenditure.
Cooking ingredients and meals in 2024: The big picture
The performance of cooking ingredients and meals in 2024 continued to be shaped by consumer demand for convenience when cooking at home, especially with regard to products that are frequently used. While foodservice rebounded in the immediate aftermath of the pandemic, foodservice slowed slightly in 2024 as consumers reined in their spending, with many opting to cook at home once more.
Country background
Cooking ingredients and meals are mainly purchased through modern grocery retailers, which are enjoying an increase in share each year. In Panama, most food purchases are made by women, with the custom of stocking up for one or two weeks maximum.
Socioeconomic trends
According to the International Monetary Fund, Panama’s GDP grew 7.5% in 2023 but is expected to slow to 2.
Logistics/infrastructure
Panama’s infrastructure is among the best in Latin America, with a good network of roads, railroads and several international airports, although roads in rural areas remain poor. Between 2013 and 2018, a five-year investment plan worth USD13.
What next for cooking ingredients and meals?
Cooking ingredients and meals will remain essential products for consumers when preparing meals at home, a characteristic that will continue to support sales over the forecast period. However, value sales will be hampered by the increasing presence of private label products as consumers and businesses are expected to remain cautious about spending due to the potential uncertainty arising from the economic landscape.
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Overview:
Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals 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 Cooking Ingredients and Meals 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.
The Cooking Ingredients and Meals in Panama report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Cooking Ingredients and Meals in Panama?
- Which are the leading brands in Cooking Ingredients and Meals in Panama?
- How are products distributed in Cooking Ingredients and Meals in Panama?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Cooking Ingredients and Meals?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Panama?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Cooking Ingredients and Meals in Panama
Cooking ingredients and meals in 2024: The big picture
Country background
Socioeconomic trends
Logistics/infrastructure
What next for cooking ingredients and meals?
DISCLAIMER
2024 Developments
Prospects and Opportunities
Category Data
2024 Developments
Prospects and Opportunities
Category Data
2024 Developments
Prospects and Opportunities
Category Data
2024 Developments
Prospects and Opportunities
Category Data
The following categories and subcategories are included:
Cooking Ingredients and Meals
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- Olive Oil
- Corn Oil
- Palm Oil
- Rapeseed Oil
- Soy Oil
- Sunflower Oil
- Other Edible Oil
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- Dried Ready Meals
- Shelf Stable Ready Meals
- Chilled Ready Meals
- Frozen Ready Meals
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- Dry Soup
- Shelf Stable Soup
- Chilled Soup
- Frozen Soup
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- Chilled Pizza
- Frozen Pizza
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- Meal Kits
- Quick Recipe Kits
- Chilled Lunch Kits
- Prepared Salads
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- Liquid Stocks and Fonds
- Stock Cubes and Powders
- Gravy Cubes, Powders and Pots
- Monosodium Glutamate
- Herbs and Spices
- Tomato Pastes and Purées
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- Liquid Recipe Sauces (excl pasta sauces)
- Dry Recipe Sauces
- Pasta Sauces
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- Barbecue Sauces
- Fish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Sauces
- Chili Sauces
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- Dips
- Yeast-based Spreads
- Pickled Products
- Other Sauces and Condiments
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- Honey
- Chocolate Spreads
- Jams and Preserves
- Nut and Seed Based Spreads
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 report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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