Care Products market in Panama

The Panamanian Care Products eCommerce market is predicted to reach US$93.2 million by 2024 and accounts for 8.4% of the total eCommerce market in Panama. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 8.9%, resulting in a projected market volume of US$131.2 million by 2028. Within the Care Products market ECDB considers the following three sub-markets: Personal Care, Health Care, and Household Care.

Market development

eCommerce revenue development in the Food Supplements market in Panama

The Panamanian Food Supplements eCommerce market is predicted to reach US$3.6 million by 2024 and accounts for 55.8% of the Nutrition eCommerce market in Panama. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 7.7%, resulting in a projected market volume of US$4.8 million by 2028. The Food Supplements eCommerce market is a sub-market of the Nutrition market. Further categories within the Nutrition market are: Health Teas, Other Nutrition, and Protein Drinks & Bars.

eCommerce revenue development in the Food Supplements market in Panama

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Food Supplements market in Panama

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)88.089.941.880.437.310.167.176.9

Online share

eCommerce online share of the total Food Supplements market in Panama

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Panamanian Food Supplements retail market, the online share is 5.6% and will increase by an average of 9.6% to 8.0% by 2028.

eCommerce online share of the total Food Supplements market in Panama

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)3.9%92.1%97.9%32.2%36.9%32.9%83.8%5.9%

Market definition

Definition of the Food Supplements market within the Care Products market

Market definition: Care Products > Health Care > Nutrition > Food Supplements The category Food Supplements includes the online trade of food supplies, protein drinks and bars and health teas. This category does not cover food and beverages and nutrition counseling. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Vitamins and minerals
  • Herbal and botanical supplements
  • Omega-3 fatty acids
  • Probiotics and digestive health
  • Weight management supplements

Out-of-scope

  • Protein drinks and bars

Market comparison

The Panamanian Food Supplements market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis