Grocery market in Panama

The Panamanian Grocery eCommerce market is predicted to reach US$68.5 million by 2024 and accounts for 5.8% 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 16.4%, resulting in a projected market volume of US$125.6 million by 2028. Within the Grocery market ECDB considers the following two sub-markets: Food and Beverages.

Market development

eCommerce revenue development in the Frozen Food market in Panama

The Panamanian Frozen Food eCommerce market is predicted to reach US$5.1 million by 2024 and accounts for 12.0% of the Food 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 16.1%, resulting in a projected market volume of US$9.2 million by 2028. The Frozen Food eCommerce market is a sub-market of the Food market. Further categories within the Food market are: Baked Goods, Food Cupboard, Fresh Food, and Meal Kits.

eCommerce revenue development in the Frozen Food market in Panama

in million US$

eCommerce revenue growth in the Frozen Food market in Panama

in %

Net eCommerce revenue split by sub-category

in %
20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)70.69.563.512.890.812.576.37.3

Online share

eCommerce online share of the total Frozen Food market in Panama

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Panamanian Frozen Food retail market, the online share is 3.8% and will increase by an average of 11.7% to 5.8% by 2028.

eCommerce online share of the total Frozen Food market in Panama

in %
20202021202220232024202520262027
Online share (in %)6.5%30.7%99.1%8.0%17.9%15.7%75.6%45.2%

Market definition

Definition of the Frozen Food market within the Grocery market

Market definition: Grocery > Food > Frozen Food The category Frozen Food includes the online trade of ice cream, frozen pizza, frozen ready meals, and more. This category does not cover chilled food. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Ice Cream
  • Frozen pizza
  • Frozen ready meals
  • Frozen vegetables

Out-of-scope

  • Chilled food