Care Products market in Panama

The Panamanian Care Products eCommerce market is predicted to reach US$93.2 million by 2024 and accounts for 8.4% of the total eCommerce market in Panama. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 8.9%, resulting in a projected market volume of US$131.2 million by 2028. Within the Care Products market ECDB considers the following three sub-markets: Personal Care, Health Care, and Household Care.

Market development

eCommerce revenue development in the Decorative Cosmetics market in Panama

The Panamanian Decorative Cosmetics eCommerce market is predicted to reach US$9.8 million by 2024 and accounts for 18.8% of the Personal Care eCommerce market in Panama. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 3.9%, resulting in a projected market volume of US$11.4 million by 2028. The Decorative Cosmetics eCommerce market is a sub-market of the Personal Care market. Further categories within the Personal Care market are: Fragrances, Hygiene, Other Personal Care, and Shower & Bath.

eCommerce revenue development in the Decorative Cosmetics market in Panama

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Decorative Cosmetics market in Panama

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

201720182019202020212022202320242025202620272028
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)43.35.829.154.788.535.633.043.0
as of Personal Care (in %)2.32.42.32.52.82.52.52.52.52.62.62.6

Market definition

Definition of the Decorative Cosmetics market within the Care Products market

Market definition: Care Products > Personal Care > Decorative Cosmetics The category Decorative Cosmetics includes the online trade of lipsticks, make-up, eye cosmetics, and more. This category does not cover shower and bath products, hygiene products or fragrances and perfumes. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Lipsticks
  • Make-up
  • Eye cosmetics
  • Nail cosmetics

Out-of-scope

  • Shower and bath products
  • Hygiene products
  • Fragrances and perfumes

Market comparison

The Panamanian Decorative Cosmetics market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis