Bread - Panama | Statista Market Forecast

Bread - Panama

Panama

Highlights

Revenue in the Bread market amounts to US$499.70m in 2024. The market is expected to grow annually by 6.06% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$80bn in 2024).
In relation to total population figures, per person revenues of US$110.30 are generated in 2024.
In the Bread market, volume is expected to amount to 243.50m kg by 2029. The Bread market is expected to show a volume growth of 5.5% in 2025.0.
The average volume per person in the Bread market is expected to amount to 44.5kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Bread Market in Panama has seen minimal growth due to factors such as changing consumer preferences, economic instability, and increasing competition. Despite this, the market remains steady with rising health awareness and convenient online shopping options driving sales.

Customer preferences: As health and wellness continue to be key concerns for consumers in Panama, there is a growing demand for healthier bread options. This has led to a rise in gluten-free, whole grain, and organic bread varieties. Additionally, there is a trend towards locally-sourced and artisanal breads, as consumers place a greater emphasis on supporting local businesses and sustainable food production. This shift towards healthier and locally-made bread options reflects a wider global trend towards more conscious and mindful food choices.

Trends in the market: In Panama, the Bread Market of the Bread & Cereal Products Market within The Food market is seeing a rise in demand for organic and whole grain breads, as consumers become more health-conscious. This trend is expected to continue, with an increasing number of bakeries offering healthier options to cater to this growing demand. This has implications for industry stakeholders, as they may need to adjust their production and marketing strategies to meet the changing preferences of consumers. Additionally, there is a growing trend towards artisanal and specialty breads, as consumers seek unique and high-quality products. This presents an opportunity for smaller bakeries to differentiate themselves and compete with larger brands.

Local special circumstances: In Panama, the Bread Market is heavily influenced by the country's geographical location and climate. Being a tropical country, Panama has a high demand for bread as it is a staple in many local dishes. This demand is further driven by the country's rich cultural heritage, where bread is a traditional food item. Additionally, the Panamanian government has implemented regulations to support the local production and consumption of bread, creating a unique market dynamic. These factors contribute to the growth and stability of the Bread Market in Panama.

Underlying macroeconomic factors: The Bread Market of the Bread & Cereal Products Market within The Food market is largely impacted by macroeconomic factors such as consumer spending power, availability of raw materials, and government policies on food imports and exports. Countries with stable economic conditions and a high demand for bread and cereal products are likely to experience steady growth in this market. On the other hand, regions with economic instability and a decline in consumer purchasing power may see a slow growth rate in the bread market. Additionally, changing dietary preferences and health concerns among consumers are also influencing the demand for healthier and more diverse bread options.

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.