Baby Food - Panama | Statista Market Forecast

Revenue in the Baby Food market amounts to US$144.00m in 2024. The market is expected to grow annually by 5.11% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$20bn in 2024).
In relation to total population figures, per person revenues of US$31.80 are generated in 2024.
In the Baby Food market, volume is expected to amount to 10.94m kg by 2029. The Baby Food market is expected to show a volume growth of 3.7% in 2025.0.
The average volume per person in the Baby Food market is expected to amount to 2.0kg in 2024.

Definition:

The Baby Food market covers specially formulated foods that are intended for infants and small children, most notably in the form of homogenized food preparations. In this market, both supplementary foods (e.g., fruit- and vegetable-based baby food) and infant formula are included.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

Homogenized and dietary food preparations for infant feeding
Infant formula
Baby rice cereals and flour for baby meals

Baby care products
Baby beverages
Out-of-home consumption

The Baby Food Market in Panama is experiencing minimal growth due to factors such as increased competition from homemade baby food, limited disposable income, and low birth rates. Despite this, the market is still driven by rising health awareness and convenience of online shopping for baby food products. The sub-markets of Baby Milk & Infant Formula, Baby Cereals & Other Dried Baby Food, Prepared Baby Food, and Baby Snacks & Others all contribute to the overall growth of the market.

Customer preferences: As Panama experiences a rise in urbanization and working parents, there is a growing demand for convenient and healthy baby food options. This has led to an increase in the market for organic, natural, and locally sourced baby food products. Additionally, there is a trend towards eco-friendly and sustainable packaging in the baby food industry, as consumers become more environmentally conscious. This shift towards healthier and sustainable options is driven by a desire for better nutrition and a greener lifestyle.

Trends in the market: In Panama, the Baby Food Market within The Food market is experiencing a rise in demand for organic and natural baby food products. This trend is driven by an increasing awareness among parents about the importance of healthy and sustainable food options for their children. Additionally, there is a growing preference for convenience and time-saving options, leading to a rise in demand for ready-to-eat and on-the-go baby food products. These trends are expected to continue, presenting opportunities for industry stakeholders to expand their product offerings and cater to the changing needs of consumers.

Local special circumstances: In Panama, the Baby Food Market is heavily influenced by the country's strong agricultural sector, which provides a steady supply of high-quality fruits and vegetables for baby food production. Additionally, the cultural preference for natural and organic food products has led to a rise in demand for locally sourced and minimally processed baby food. Furthermore, the strict regulatory standards for food safety and labeling have created a competitive market with a focus on transparency and quality. These factors contribute to the unique dynamics of the Baby Food Market in Panama, differentiating it from other markets.

Underlying macroeconomic factors: The Baby Food Market in Panama is greatly impacted by macroeconomic factors such as consumer spending, economic stability, and government policies. The country's strong economic growth and rising disposable income have led to an increase in demand for high-quality and convenient baby food products. Moreover, favorable government policies such as tax incentives and subsidies for food manufacturers have encouraged investment in the market. Additionally, the increasing awareness about the importance of proper nutrition for infants and young children has also contributed to the growth of the Baby Food Market in Panama.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

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, and consumer price 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 Food 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. The market is updated twice a year.

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