Retail volume sales of staple foods rose in 2024 although performances varied across categories, depending on the level of price increases and whether the category was subject to extended government price controls to maintain affordability and consumption. Price sensitive consumers began switching from expensive meat to cheaper protein sources such as shelf tuna, while baked goods achieved only moderate retail volume growth, despite the popularity and low prices of unpacked bread in Panama.
Staple foods in 2024: The big picture
During 2024, manufacturers focused on increasing consumer experience at home with innovation moving towards indulgent flavour and restaurant-like products.
Country background
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).
Socioeconomic trends
During 2023, Panama’s GDP grew 7% and is expected to grow 3% in 2024 according to the IMF. Growth slowed due to the closure of Minera Panama, a large copper mine subsidiary of the Canadian First Quantum Minerals (FQM), after strong protests.
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. After a five-year investment plan worth USD13.
What next for staple foods?
Over the forecast period, all the main categories of staple foods are expected to experience solid growth. However, one of the slowest growth rates will be in rice, pasta and noodles, due to its currently large penetration.
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Overview:
Understand the latest market trends and future growth opportunities for the Staple Foods 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 Staple Foods 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 Staple Foods 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 Staple Foods in Panama?
- Which are the leading brands in Staple Foods in Panama?
- How are products distributed in Staple Foods 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 Staple Foods?
- 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?
Staple Foods in Panama
Staple foods in 2024: The big picture
Country background
Socioeconomic trends
Logistics/infrastructure
What next for staple foods?
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
2024 Developments
Prospects and Opportunities
Category Data
The following categories and subcategories are included:
Staple Foods
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- Packaged Flat Bread
- Unpackaged Flat Bread
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- Packaged Leavened Bread
- Unpackaged Leavened Bread
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- Packaged Cakes
- Unpackaged Cakes
- Dessert Mixes
- Frozen Baked Goods
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- Packaged Pastries
- Unpackaged Pastries
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- Sweet Pies and Tarts
- Frozen Cakes, Sweet Pies and Tarts
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- Hot Cereals
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- Children's Breakfast Cereals
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- Flakes
- Muesli and Granola
- Other RTE Cereals
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- Shelf Stable Beans
- Shelf Stable Fruit
- Shelf Stable Tomatoes
- Shelf Stable Vegetables
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- Frozen Fruit
- Frozen Processed Potatoes
- Frozen Processed Vegetables
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- Shelf Stable Processed Red Meat
- Shelf Stable Processed Poultry
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- Chilled Processed Red Meat
- Chilled Processed Poultry
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- Frozen Processed Red Meat
- Frozen Processed Poultry
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- Shelf Stable Seafood
- Chilled Processed Seafood
- Frozen Processed Seafood
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- Chilled Meat and Seafood Substitutes
- Frozen Meat and Seafood Substitutes
- Shelf Stable Meat and Seafood Substitutes
- Tofu and Derivatives
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- Chilled Noodles
- Frozen Noodles
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- Instant Noodle Cups
- Instant Noodle Pouches
- Plain Noodles
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- Chilled Pasta
- Dried Pasta
- Rice
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Staple Foods
NOTE: Couscous, polenta and quinoa are excluded from staple foods.
See all of our definitionsWhy buy this report?
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- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Staple Foods research and analysis database.
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