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  3. Beauty & Personal Care
  4. Skin Care

Face Skin Care - Panama

Panama
  • In Panama, the revenue generated in the Face market in 2024 amounts to US$87.94m.
  • It is projected that this market will experience an annual growth rate of 4.80% from 2024 to 2029 (CAGR 2024-2029).
  • When comparing the revenue generated globally, Japan leads the pack with US$18bn in 2024.
  • In terms of per capita revenue, each person in Panama is estimated to generate US$19.42 in 2024.
  • Panamanian consumers are increasingly seeking out natural and organic face products, reflecting a growing interest in sustainable and environmentally-friendly beauty options.

Definition:

The Face Skin Care covers cosmetic products designed for care and protection of the face covering face and eye creams, face scrubs, masks and lip balms. Excluded are decorative cosmetics, body lotions, professional products and services.

Additional Information:

The market comprises revenue and average revenue per capita. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). For more information on the displayed data, click the info button on the right side of each box.

In-Scope

  • Face cream
  • Eye cream
  • Face scrub
  • Lip balms

Out-Of-Scope

  • Decorative cosmetics
  • Body lotions
  • Sun protection
  • Baby care
  • Professional products & services

Revenue

Notes: Data was converted from local currencies using average exchange rates of the respective year.

Most recent update: Nov 2024

Source: Statista Market Insights

Most recent update: Nov 2024

Source: Statista Market Insights

Key Players

Most recent update: Mar 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Nov 2024

Source: Statista Market Insights

Methodology

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.

Key Market Indicators

Notes: Based on data from IMF, World Bank, UN and Eurostat

Most recent update: Sep 2024

Source: Statista Market Insights

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