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Fresh Fruits - Panama

Panama
  • Revenue in the Fresh Fruits market amounts to US$818.70m in 2024. The market is expected to grow annually by 5.21% (CAGR 2024-2029).
  • In global comparison, most revenue is generated India (US$116bn in 2024).
  • In relation to total population figures, per person revenues of US$180.80 are generated in 2024.
  • In the Fresh Fruits market, volume is expected to amount to 260.90m kg by 2029. The Fresh Fruits market is expected to show a volume growth of 3.8% in 2025.0.
  • The average volume per person in the Fresh Fruits market is expected to amount to 49.5kg in 2024.

Definition:

The Fresh Fruits market covers all types of fresh fruit that haven't been canned, frozen, dehydrated, or preserved in any way. This market is divided into five submarkets: apples & pears, bananas, berries & grapes, citrus fruits, and other fresh fruits such as peaches, mangos, pineapples, plums, and kiwis.

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.

In-Scope

  • Apples & pears
  • Bananas
  • Berries & grapes
  • Citrus fruits
  • Stone and exotic fruits

Out-Of-Scope

  • Processed, dried and frozen fruits
  • Nuts
  • Mix cut fruit boxes
  • Out-of-home consumption

Revenue

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

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Sep 2024

Source: Statista Market Insights

Volume

Most recent update: Sep 2024

Source: Statista Market Insights

Most recent update: Sep 2024

Source: Statista Market Insights

Price

Most recent update: Sep 2024

Source: Statista Market Insights

Sales Channels

Most recent update: Nov 2024

Source: Statista Market Insights

Global Comparison

Most recent update: Sep 2024

Source: Statista Market Insights

Analyst Opinion

The Fresh Fruits Market in Panama is witnessing minimal growth, influenced by factors such as fluctuating climate conditions, changing consumer preferences, and competition from imported fruits. However, ongoing health trends continue to sustain interest in fresh produce.

Customer preferences:
Consumers in Panama are increasingly prioritizing health and wellness, driving a shift towards organic and locally sourced fresh fruits. This trend is influenced by a growing awareness of nutritional benefits and sustainable practices, particularly among younger demographics. Additionally, urbanization and busy lifestyles are prompting a demand for convenient, ready-to-eat fruit options. Cultural preferences for traditional fruits are evolving, creating opportunities for innovative fruit blends and exotic varieties that cater to diverse palates, reflecting a dynamic food culture.

Trends in the market:
In Panama, the Fresh Fruits Market is experiencing a surge in demand for organic and locally sourced produce, driven by increasing consumer awareness of health and wellness. This shift is particularly evident among younger generations seeking nutritious options and sustainable practices. Concurrently, urban lifestyles are fostering a preference for convenient, ready-to-eat fruit products. Additionally, evolving cultural tastes are opening doors for innovative fruit blends and exotic varieties, reflecting a vibrant food culture. Industry stakeholders must adapt to these trends, focusing on product diversification and sustainable sourcing to capitalize on emerging consumer preferences.

Local special circumstances:
In Panama, the Fresh Fruits Market is uniquely influenced by its tropical climate, which allows for year-round cultivation of diverse fruit varieties, including bananas, pineapples, and papayas. This geographical advantage supports both local consumption and export potential. Culturally, the Panamanian diet emphasizes fresh produce, fostering a strong demand for organic options. Additionally, regulatory initiatives promoting sustainable agricultural practices are encouraging farmers to adopt eco-friendly methods, further enhancing market dynamics. These local factors position the market for growth and innovation.

Underlying macroeconomic factors:
The Fresh Fruits Market in Panama is significantly shaped by macroeconomic factors such as global demand trends, trade policies, and national economic stability. As global interest in tropical fruits rises, Panama's export potential grows, bolstered by favorable trade agreements that facilitate access to international markets. Nationally, economic health indicators, including GDP growth and inflation rates, influence consumer spending power and demand for fresh produce. Fiscal policies promoting agricultural development and sustainability further enhance market prospects. Additionally, the rising middle class in Panama is driving an increased preference for organic and locally sourced fruits, contributing to a dynamic and evolving market landscape.

Methodology

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.

Key Market Indicators

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

Most recent update: Sep 2024

Source: Statista Market Insights

Explore more high-quality data on related topic

Fresh fruit in retail - statistics & facts

The fresh produce department is often counted as being one of the main determinants among consumers when selecting a grocery store. In 2022, the fruit and vegetable market in the U.S. was valued at over 5.8 billion U.S. dollars. In the same year, the sales of fresh fruit made up 45 percent of produce sales in the U.S., making it one of the most lucrative fresh food categories. In order to help drive sales, producers frequently launch in-store marketing campaigns. Ideas range from promoting the healthy benefits of fruit, to offering convenient, value-added snack-size options.
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