Market Insights Consumer Beauty & Personal Care

Fragrances - Panama

Panama

The Fragrances market in Panama is projected to generate a revenue of US$62.71m in 2024.
According to the Compound Annual Growth Rate (CAGR) from 2024 to 2029, the market is expected to grow by 4.74% annually.
When compared globally, in the United States leads in revenue generation with US$8,862m in 2024.
On a per capita basis, each individual in Panama is expected to contribute US$13.85 to the Fragrances market in 2024.
Additionally, it is predicted that 53% of the sales in the Fragrances market by 2024 will come from Non-Luxury.
Panama's fragrance market is thriving, with a growing demand for locally-made, tropical-inspired scents that capture the country's unique natural beauty.

Key regions: Malaysia, Worldwide, United Arab Emirates, United Kingdom, Indonesia

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Data coverage:

The data encompasses B2C enterprises. 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 population, GDP per capita, and Human Development 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, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.