Non-Alcoholic Drinks - Panama

The Non-Alcoholic Drinks market in Panama is experiencing significant growth and development. Customer preferences in Panama are shifting towards healthier beverage options, which has led to an increase in demand for non-alcoholic drinks. Consumers are becoming more health-conscious and are actively seeking out beverages that are low in sugar, calories, and artificial ingredients. This trend is in line with global consumer preferences, as people are becoming more aware of the negative health effects of sugary drinks and are opting for healthier alternatives. In addition to health concerns, convenience is also an important factor driving the growth of the non-alcoholic drinks market in Panama. Busy lifestyles and the need for on-the-go options have led to an increase in demand for ready-to-drink beverages. Consumers are looking for convenient and portable options that can be easily consumed while commuting or during work hours. This trend is also reflected on a global scale, as consumers increasingly prioritize convenience in their purchasing decisions. One of the key trends in the non-alcoholic drinks market in Panama is the rise of functional beverages. Functional beverages are drinks that provide additional health benefits beyond basic hydration. These beverages often contain added vitamins, minerals, or other functional ingredients that target specific consumer needs, such as energy, digestion, or immune support. Functional beverages have gained popularity in Panama as consumers are looking for drinks that not only taste good but also provide added health benefits. Another trend in the market is the growing popularity of natural and organic beverages. Consumers in Panama are increasingly seeking out products that are made with natural ingredients and are free from artificial additives. This trend is driven by a desire for healthier and more sustainable options. The demand for natural and organic beverages is not unique to Panama, as consumers worldwide are showing a preference for products that are perceived as more natural and environmentally friendly. Local special circumstances in Panama also contribute to the development of the non-alcoholic drinks market. The country's tropical climate and tourism industry create a high demand for refreshing and hydrating beverages. Panama is known for its beautiful beaches and outdoor activities, making it an attractive destination for tourists. This creates an opportunity for non-alcoholic beverage companies to cater to the needs of both locals and tourists by offering a variety of refreshing and hydrating options. Underlying macroeconomic factors such as a growing middle class and increasing disposable income also play a role in the development of the non-alcoholic drinks market in Panama. As the economy continues to grow, more people have the means to spend on discretionary items such as beverages. This has led to an increase in demand for non-alcoholic drinks, as consumers have more purchasing power to explore different options and try new products. Overall, the Non-Alcoholic Drinks market in Panama is experiencing growth and development driven by changing customer preferences, global trends towards healthier and more convenient options, local special circumstances, and underlying macroeconomic factors. As consumers continue to prioritize health and convenience, the market is expected to further expand in the coming years.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

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 (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level 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 Non-Alcoholic Drinks 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.