Alcoholic Drinks - Panama | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Alcoholic Drinks market amounts to US$784.8m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$318.6m in 2024.
Revenue, combined amounts to US$1.1bn in 2024.
The revenue, at home is expected to grow annually by 0.86% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated China (US$208bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$173.30 are generated in 2024.
In the Alcoholic Drinks market, volume, at home is expected to amount to 246.8m L by 2024.
Volume, out-of-home is expected to amount to 46.7m L in 2024.
Volume, combined is expected to amount to 293.5m L in 2024.
The Alcoholic Drinks market is expected to show a volume growth, at home of -2.2% in 2025.0.
The average volume per person, at home in the Alcoholic Drinks market is expected to amount to 54.51L in 2024.

Definition:

The Alcoholic Drinks market includes all alcoholic beverages that are produced by fermentation or distillation.

Structure:

The Alcoholic Drinks market is divided into 5 markets:

The Beer market encompasses fermented beverages based on malt. The Beer market is further divided into the markets Alcoholic Beer and Non-Alcoholic Beer.
The Spirits market encompasses alcoholic beverages that are produced through the distillation of wine, fermented fruits, or grains. It contains the Whisky, Vodka, Rum, Gin, Brandy, Soju, Tequila, and Liqueurs & Other Spirits markets.
The Wine market encompasses all fermented juices made from grapes. The Wine market is further divided into Still Wine (Red Wine, White Wine, and Rosé Wine), Sparkling Wine, and Fortified Wine.
The Cider, Perry & Rice Wine market encompass all wines made from fruits other than grapes, grains, or other plants.
The Hard Seltzer market encompasses alcoholic beverages made with carbonated water, alcohol, and often fruit flavoring.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Anheuser-Busch InBev (e.g., Corona, Bud Light, and Michelob), Diageo (e.g., Johnnie Walker, Guinness, and Tanqueray), Heineken, and Molson Coors.

Alcoholic & Non-Alcoholic Beer
Wine
Spirits
Cider, Perry and Rice Wines
Hard Seltzer

Non-Alcoholic Beverages derived from Wine or Spirits

The Alcoholic Drinks market in Panama is experiencing significant growth and development.

Customer preferences: Panamanian consumers have shown a growing interest in premium and craft alcoholic beverages. They are increasingly seeking unique and high-quality products that offer a different taste experience. This shift in consumer preferences is driven by a desire for more sophisticated and refined drinking options. Additionally, there is a growing trend towards healthier lifestyles, leading to an increased demand for low-alcohol and alcohol-free alternatives.

Trends in the market: One of the key trends in the Alcoholic Drinks market in Panama is the rise of local craft breweries and distilleries. These small-scale producers are gaining popularity among consumers who value the authenticity and craftsmanship of their products. Craft beers, in particular, have seen a surge in demand, with a wide variety of flavors and styles now available in the market. This trend is also reflected in the growing number of specialized bars and restaurants that offer a wide selection of craft beverages. Another trend in the market is the increasing popularity of imported alcoholic drinks. Panamanian consumers are becoming more adventurous in their drinking choices and are willing to explore products from different countries. This trend is driven by a desire for new and exciting flavors, as well as a growing interest in international trends and cultures.

Local special circumstances: Panama's strategic location as a major trading hub has contributed to the availability of a wide range of alcoholic drinks in the market. The country's proximity to both North and South America allows for easy access to a diverse selection of products. Additionally, the presence of a large expatriate community and a thriving tourism industry further drives the demand for imported alcoholic beverages.

Underlying macroeconomic factors: Panama's strong economic growth and increasing disposable incomes have played a significant role in the development of the Alcoholic Drinks market. As the country's middle class expands, consumers have more purchasing power to spend on discretionary items such as alcoholic beverages. Additionally, the growing tourism industry has attracted a large number of international visitors who contribute to the demand for alcoholic drinks. In conclusion, the Alcoholic Drinks market in Panama is experiencing growth and development driven by changing customer preferences, including a demand for premium and craft beverages, as well as a growing interest in imported products. The presence of local craft breweries and distilleries, as well as Panama's strategic location and strong economy, further contribute to the market's expansion.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The alcoholic beverage market is recovering after several years of downturn. Larger forces like the COVID-19 pandemic, the Russian invasion of Ukraine and the ensuing inflation have either been resolved or accepted as part of the current market environment. Regional conditions vary as consumers in some areas of the world are changing their alcohol preferences while other regions are continuing to feel the effects of less discretionary spending from consumers.