Report Update Jan 1, 2025

Panama - Perfumes and Toilet Waters - Market Analysis, Forecast, Size, Trends and Insights

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Panama: Perfume Market 2025

Perfume Market Size in Panama

The Panamanian perfume market surged to $X in 2022, increasing by 16% against the previous year. In general, consumption recorded a remarkable increase. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Perfume Production in Panama

In value terms, perfume production surged to $X in 2022 estimated in export price. Over the period under review, production saw a significant expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 110% against the previous year. Perfume production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Perfume Exports

Exports from Panama

In 2022, perfume exports from Panama declined rapidly to X tons, dropping by -72.5% against 2021. In general, exports recorded a dramatic downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 17% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, perfume exports declined remarkably to $X in 2022. Overall, exports continue to indicate a sharp shrinkage. The smallest decline of -1.7% was in 2017. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Free Zones (X tons) was the main destination for perfume exports from Panama, with a 96% share of total exports. Moreover, perfume exports to Free Zones exceeded the volume sent to the second major destination, Costa Rica (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Free Zones totaled +57.7%.

In value terms, Free Zones ($X) remains the key foreign market for perfumes and toilet waters exports from Panama, comprising 95% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 4.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Free Zones totaled +55.7%.

Export Prices by Country

The average perfume export price stood at $X per ton in 2022, standing approx. at the previous year. Overall, the export price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2018 an increase of 9.4%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Free Zones totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (-1.2%), while the prices for the other major destinations experienced a decline.

Perfume Imports

Imports into Panama

Perfume imports into Panama reduced to X tons in 2022, with a decrease of -11.3% on the previous year's figure. Over the period under review, imports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2014 when imports increased by 0.2% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, perfume imports surged to $X in 2022. Overall, imports saw a precipitous descent. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Free Zones (X tons) constituted the largest perfume supplier to Panama, with a 45% share of total imports. Moreover, perfume imports from Free Zones exceeded the figures recorded by the second-largest supplier, Colombia (X tons), fourfold. The third position in this ranking was taken by China (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Free Zones totaled +26.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+24.8% per year) and China (-17.6% per year).

In value terms, the largest perfume suppliers to Panama were France ($X), Free Zones ($X) and Spain ($X), together comprising 71% of total imports. The United States, Colombia, Italy, Mexico and China lagged somewhat behind, together comprising a further 27%.

In terms of the main suppliers, Mexico, with a CAGR of +42.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average perfume import price amounted to $X per ton, growing by 35% against the previous year. Over the period under review, the import price, however, showed a abrupt decline. The import price peaked 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 Italy (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

This report provides an in-depth analysis of the perfume market in Panama. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20421150 - Perfumes
Prodcom 20421170 - Toilet waters

Country coverage:

Panama

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Panama
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2024
22. Production, In Value Terms, 2012–2024
23. Imports, In Physical Terms, 2012–2024
24. Imports, In Value Terms, 2012–2024
25. Imports, In Physical Terms, By Country, 2024
26. Imports, In Physical Terms, By Country, 2012–2024
27. Imports, In Value Terms, By Country, 2012–2024
28. Import Prices, By Country Of Origin, 2012–2024
29. Exports, In Physical Terms, 2012–2024
30. Exports, In Value Terms, 2012–2024
31. Exports, In Physical Terms, By Country, 2024
32. Exports, In Physical Terms, By Country, 2012–2024
33. Exports, In Value Terms, By Country, 2012–2024
34. Export Prices, By Country Of Destination, 2012–2024