Hot drinks sales achieved strong growth in 2023. While the largest category coffee performed best, growth was not as strong as had been expected.
Panama’s economy grew at an impressive rate in 2022, experiencing the fastest growth in the region. While 2023 is poised to see another year of strong growth, it is expected to be slower than 2022.
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 has a relatively high per capita GDP, with purchasing power parity in line with that of Chile, which is among the highest in the region. The middle class is estimated at 22% of all households, while 20% of households live below the national poverty line.
The logistics system in Panama is fairly well developed for businesses with over 2,000 km of road constructed during the last presidential period. As such, hot drinks benefits from extensive coverage across the country.
The long-term outlook for the hot drinks industry remains strong – in most households, these products are staples. In addition, further growth of the on-trade channel is expected, which will help coffee in particular.
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Understand the latest market trends and future growth opportunities for the Hot Drinks industry in Panama with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Hot Drinks
This report originates from Passport, our Hot Drinks research and analysis database.
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