Panama: Eye Make-Up Preparations Market 2024

Eye Make-Up Preparations Market Size in Panama

The Panamanian eye make-up preparations market soared to $X in 2022, with an increase of 43% against the previous year. Overall, consumption continues to indicate strong growth. Over the period under review, the market attained the maximum level in 2022 and is likely to see steady growth in years to come.

Eye Make-Up Preparations Production in Panama

In value terms, eye make-up preparations production skyrocketed to $X in 2022 estimated in export price. Overall, production continues to indicate strong growth. The pace of growth was the most pronounced in 2020 when the production volume increased by 5,941%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Eye Make-Up Preparations Exports

Exports from Panama

In 2022, approx. X tons of eye make-up preparations were exported from Panama; falling by -4.9% compared with the year before. Overall, exports showed a sharp reduction. The most prominent rate of growth was recorded in 2020 with an increase of 1,922%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, eye make-up preparations exports reduced to $X in 2022. Over the period under review, exports saw a sharp slump. The growth pace was the most rapid in 2020 with an increase of 1,675% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for eye make-up preparations exports from Panama, with a 35% share of total exports. Moreover, eye make-up preparations exports to the United States exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. Costa Rica (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+24.2% per year) and Costa Rica (-19.1% per year).

In value terms, the United States ($X) remains the key foreign market for eye make-up preparations exports from Panama, comprising 40% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 15% share of total exports. It was followed by Colombia, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at -18.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-1.1% per year) and Colombia (-34.5% per year).

Export Prices by Country

In 2022, the average eye make-up preparations export price amounted to $X per ton, falling by -5.3% against the previous year. In general, the export price continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2016 an increase of 12% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Eye Make-Up Preparations Imports

Imports into Panama

After two years of decline, purchases abroad of eye make-up preparations increased by 47% to X tons in 2022. Over the period under review, imports, however, recorded a abrupt decrease. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, eye make-up preparations imports skyrocketed to $X in 2022. In general, imports, however, recorded a deep slump. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Free Zones (X tons) constituted the largest eye make-up preparations supplier to Panama, accounting for a 46% share of total imports. Moreover, eye make-up preparations imports from Free Zones exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was held by China (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Free Zones amounted to +76.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-8.7% per year) and China (-20.5% per year).

In value terms, the largest eye make-up preparations suppliers to Panama were Free Zones ($X), the United States ($X) and Colombia ($X), with a combined 62% share of total imports.

Among the main suppliers, Free Zones, with a CAGR of +47.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average eye make-up preparations import price amounted to $X per ton, dropping by -4.3% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 54%. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform