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 Nutrition market in Panama

The Panamanian Nutrition eCommerce market is predicted to reach US$6.4 million by 2024 and accounts for 25.0% of the Health 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 9.5%, resulting in a projected market volume of US$9.2 million by 2028. The Nutrition eCommerce market is a sub-market of the Health Care market. Further categories within the Health Care market are: Eye Care, Medical Products, Other Health Care, and Pharmaceuticals.

eCommerce revenue development in the Nutrition 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 Nutrition 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 %)46.271.585.226.480.225.814.86.4
as of Health Care (in %)2.62.72.62.62.62.72.72.72.72.72.62.6

Online share

eCommerce online share of the total Nutrition 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 Nutrition retail market, the online share is 5.6% and will increase by an average of 10.5% to 8.3% by 2028.

eCommerce online share of the total Nutrition market in Panama

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)59.6%20.5%30.9%20.3%53.1%40.4%43.6%78.9%

Market definition

Definition of the Nutrition market within the Care Products market

Market definition: Care Products > Health Care > Nutrition The category Nutrition includes the online trade of food supplies, protein drinks and bars and health teas. This category does not cover food and beverages and nutrition counseling. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Food supplies
  • Protein drinks and bars
  • Health teas

Out-of-scope

  • Food and beverages
  • Nutrition counseling

Market comparison

The Panamanian Nutrition market in a global comparison

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

in %

Source: ECDB analysis