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 Health Teas market in Panama

The Panamanian Health Teas eCommerce market is predicted to reach US$0.5 million by 2024 and accounts for 7.3% 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 8.1%, resulting in a projected market volume of US$0.6 million by 2028. The Health Teas eCommerce market is a sub-market of the Nutrition market. Further categories within the Nutrition market are: Food Supplements, Other Nutrition, and Protein Drinks & Bars.

eCommerce revenue development in the Health Teas 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 Health Teas 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 %)72.960.267.17.468.477.874.168.8

Online share

eCommerce online share of the total Health Teas 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 Health Teas retail market, the online share is 5.7% and will increase by an average of 11.0% to 8.7% by 2028.

eCommerce online share of the total Health Teas market in Panama

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)47.8%42.0%46.9%29.4%7.2%51.9%63.1%16.6%

Market definition

Definition of the Health Teas market within the Care Products market

Market definition: Care Products > Health Care > Nutrition > Health Teas The category Health Teas includes the online trade of health teas (e.g. bladder tea, kidney tea). This category does not cover tea (e.g. fruit tea, camomile tea, black tea). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Health Teas (e.g. bladder tea, kidney tea)

Out-of-scope

  • Tea (e.g. fruit tea, camomile tea, black tea)

Market comparison

The Panamanian Health Teas market in a global comparison

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

in %

Source: ECDB analysis