Beauty & Personal Care - Panama

Panama

The Beauty & Personal Care market in Panama is projected to generate revenues of US$528.10m in 2024.
It is anticipated to witness a steady annual growth rate of 4.53% (CAGR 2024-2029).
The Personal Care segment holds the largest share in the market, with a volume of US$240.60m in 2024.
When compared globally, in the United States leads in revenue generation, reaching US$100bn in 2024.
Considering the population, per person revenues of US$116.60 are expected in 2024.
Online sales are projected to contribute 21.8% of the total market revenue by 2024.
Panama's Beauty & Personal Care market is experiencing a surge in demand for natural skincare products due to the country's rich biodiversity and eco-conscious consumer preferences.

Key regions: United States, Worldwide, India, Indonesia, Canada

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Analyst Opinion

The Beauty & Personal Care market is thriving and one of the fastest growing consumer markets, driven in particular by the Cosmetics and Skin Care segments. The main reason for this strong growth is the generational shift with young consumers entering the market. At the same time, this change is reinforced by social media, internationality, and eCommerce, which have a lasting effect on buying behavior when it comes to beauty products. Trends from all over the world are spreading and changing the daily beauty and care routine.