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 Make-up market in Panama

The Panamanian Make-up eCommerce market is predicted to reach US$2.3 million by 2024 and accounts for 23.6% of the Decorative Cosmetics 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 5.2%, resulting in a projected market volume of US$2.8 million by 2028. The Make-up eCommerce market is a sub-market of the Decorative Cosmetics market. Further categories within the Decorative Cosmetics market are: Eye Cosmetics, Lipsticks, Nail Cosmetics, and Other Decorative Cosmetics.

eCommerce revenue development in the Make-up 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 Make-up 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

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)82.467.680.298.211.333.154.224.5

Market definition

Definition of the Make-up market within the Care Products market

Market definition: Care Products > Personal Care > Decorative Cosmetics > Make-up The category Make-up includes the online trade of make-up (e.g. foundations, concealers, face powders, blushes, bronzers, eyebrow products). This category does not cover make-up brushes and theater make-up. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Make-up (e.g. foundations, concealers, face powders, blushes, bronzers, eyebrow products)

Out-of-scope

  • Make-up brushes
  • Theater make-up

Market comparison

The Panamanian Make-up market in a global comparison

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

in %

Source: ECDB analysis