Face Masks - Panama | Statista Market Forecast

In 2024, the revenue in the Face Masks market in Panama reached US$1.18m.
It is projected to grow annually at a rate of -0.96% (CAGR 2024-2029).
When compared globally, China generates the highest revenue with US$1bn in 2024.
Considering the total population, the per person revenue in Panama's Face Masks market amounts to US$0.26 in 2024.
By 2029, the volume in the Face Masks market is expected to reach 5.4m pieces units.
In 2025.0, the segment is expected to show a volume growth of -5.2%.
The average volume per person in the Face Masks market in Panama is projected to be 1.28pieces units in 2024.
Panama's face mask market has seen a surge in demand due to its mandatory use in public places.

Definition:

The Face Masks market includes surgical, disposable, and cloth masks as well as respirators (N95, FFPs, KN95, etc.).

Additional information:

The market comprises revenues, average revenue per capita, volume, average volume per capita, and price. Revenues are generated through both online and offline sales channels. For more information on the data displayed, use the info button right next to the boxes.

Surgical/Disposible Masks
Cloth Masks
Respirators such as N95, FFPs, KN95 etc

Gas Masks
Oxygen Masks
Face shields
Facial Masks

Just like products such as hand sanitizers and OTC medicines, face masks sales witnessed exponential growth during the peak years of the COVID-19 pandemic, 2020 and 2021, with manufacturers in industries such as Apparel, Oil and Gas, and Automobile turning to face masks production, in order to meet the demand. Over the next few years however, demand is set to reduce, amid the waning COVID-19 cases, increased vaccinations and removal of governmental norms.

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on Tissue & Hygiene Paper products that comprises of Toilet Paper, Paper Tissues, Household Paper, Feminine Hygiene, Baby diapers, Face masks and Incontinence segments that are produced for private end customers for both offline retail and online retail.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, market data from independent databases and third-party sources, historical developments, current trends, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending. 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 Tissue & Hygiene Paper market with 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. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).

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