Hot drinks sales achieved strong growth in 2024. The largest category coffee performed best although growth was stifled by category maturity and high levels of penetration.
From October 2023, with the aim of putting pressure on the government permit that would make it easier for a Canadian company to operate a copper mine, a general strike in Panama led to clashes between protesters and police forces, roadblocks and paralysis of economic sectors.
Coffee and tea are consumed regularly in Panama. In fact, it has become something of a tradition for coffee to be consumed at breakfast across most socioeconomic groups.
Panama revised its minimum wage on 10 January 2024, from USD326 per month to USDS340.00 per month for domestic workers (Region 1) and USD315.
The logistics system in Panama is fairly well developed for businesses with over 2,000km of road constructed during the last presidential period. As such, hot drinks benefits from extensive coverage across the country.
Panama is expected to continue showing one of the highest per capita incomes in the Central American region over the forecast period. A sustained strengthening of the middle class will favour stable growth in hot drinks.
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Hot Drinks
This report originates from Passport, our Hot Drinks research and analysis database.
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