Pasta - Panama | Statista Market Forecast

Pasta - Panama

Panama

Highlights

Revenue in the Pasta market amounts to US$124.40m in 2024. The market is expected to grow annually by 6.21% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$28bn in 2024).
In relation to total population figures, per person revenues of US$27.47 are generated in 2024.
In the Pasta market, volume is expected to amount to 62.66m kg by 2029. The Pasta market is expected to show a volume growth of 5.6% in 2025.0.
The average volume per person in the Pasta market is expected to amount to 11.4kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Pasta Market in Panama, part of the Bread & Cereal Products Market in The Food market, is experiencing minimal growth. This is due to various factors such as low consumer awareness, limited access to digital technologies, and a preference for traditional food options. As a result, the Pasta Market is facing challenges in achieving significant growth in the digital era.

Customer preferences: Consumers in Panama are increasingly turning to plant-based pasta options as a healthier and more sustainable alternative to traditional wheat-based pasta. This trend is driven by growing concerns over personal health and environmental sustainability. Additionally, there is a rising demand for gluten-free and organic pasta options, reflecting a growing interest in clean eating and natural ingredients. This shift towards healthier and more conscious food choices is also influenced by the country's rising middle class and their increasing purchasing power.

Trends in the market: In Panama, the Pasta Market of the Bread & Cereal Products Market within The Food market is experiencing a rise in demand for gluten-free and whole wheat options, as consumers become more health-conscious. This trend is expected to continue as consumers prioritize healthier food choices. Additionally, there is a growing trend of incorporating local and traditional ingredients into pasta, catering to the rising demand for authentic and sustainable products. These trends signal a shift in consumer preferences towards healthier and more sustainable food options in the country. As a result, industry stakeholders must adapt their product offerings and marketing strategies to meet these changing demands and stay competitive in the market.

Local special circumstances: In Panama, the Pasta Market is heavily influenced by the country's strong Italian heritage and its close proximity to Italy. This has led to a high demand for authentic Italian pasta products, with a focus on quality and traditional recipes. Additionally, the country's tropical climate and diverse geography contribute to the availability of locally sourced ingredients, such as seafood and tropical fruits, which are often incorporated into pasta dishes. The Panamanian government has also implemented regulations to ensure the quality and safety of imported pasta products, further shaping the dynamics of the market.

Underlying macroeconomic factors: The Pasta Market of the Bread & Cereal Products Market within The Food market in Panama is affected by macroeconomic factors such as consumer spending, inflation, and trade policies. The country's stable economic growth and rising disposable income have led to an increase in consumer spending on food products, including pasta. Additionally, Panama's strategic location and free trade agreements have facilitated the import and export of pasta, further driving market growth. However, fluctuations in commodity prices and the country's dependence on imported raw materials may impact the market's performance.

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.