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.
During 2024, manufacturers focused on increasing consumer experience at home with innovation moving towards indulgent flavour and restaurant-like products.
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).
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.
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.
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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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.
Staple Foods
NOTE: Couscous, polenta and quinoa are excluded from staple foods.
See all of our definitionsThis report originates from Passport, our Staple Foods research and analysis database.
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