Panama: Potato Chips Market 2025

Potato Chips Market Size in Panama

In 2022, the Panamanian potato chips market increased by 0.7% to $X, rising for the second consecutive year after three years of decline. Overall, consumption continues to indicate a noticeable increase. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Potato Chips Production in Panama

In value terms, potato chips production stood at $X in 2022 estimated in export price. In general, production recorded a slight expansion. The pace of growth was the most pronounced in 2015 with an increase of 57% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Potato Chips Exports

Exports from Panama

In 2022, shipments abroad of potato chips increased by 567% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, saw a drastic downturn. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, potato chips exports skyrocketed to $X in 2022. Over the period under review, exports, however, faced a precipitous decrease. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Cuba (X tons), Paraguay (X tons) and Peru (X tons) were the main destinations of potato chips exports from Panama, together comprising 70% of total exports. Jamaica, Guatemala, Suriname, Aruba, Colombia and Uruguay lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of +17.3%), while the other leaders experienced a decline.

In value terms, Cuba ($X), Peru ($X) and Paraguay ($X) constituted the largest markets for potato chips exported from Panama worldwide, together accounting for 69% of total exports. Jamaica, Guatemala, Colombia, Aruba, Suriname and Uruguay lagged somewhat behind, together accounting for a further 22%.

Guatemala, with a CAGR of +11.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average potato chips export price stood at $X per ton in 2022, reducing by -43.1% against the previous year. Overall, the export price continues to indicate a perceptible descent. The pace of growth appeared the most rapid in 2021 when the average export price increased by 87% against the previous year. As a result, the export price reached the peak level of $X per ton, and then shrank significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Suriname ($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 Colombia (-0.9%), while the prices for the other major destinations experienced a decline.

Potato Chips Imports

Imports into Panama

In 2022, the amount of potato chips imported into Panama rose to X tons, with an increase of 1.8% on the previous year's figure. Over the period under review, imports saw significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 1,676% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, potato chips imports totaled $X in 2022. Overall, imports showed a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 1,500%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest potato chips supplier to Panama, accounting for a 54% share of total imports. Moreover, potato chips imports from the United States exceeded the figures recorded by the second-largest supplier, Guatemala (X tons), sevenfold. Colombia (X tons) ranked third in terms of total imports with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +40.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (+24.5% per year) and Colombia (+47.2% per year).

In value terms, the United States ($X) constituted the largest supplier of potato chips to Panama, comprising 49% of total imports. The second position in the ranking was held by Guatemala ($X), with an 8.3% share of total imports. It was followed by Colombia, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +43.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (+31.7% per year) and Colombia (+50.1% per year).

Import Prices by Country

The average potato chips import price stood at $X per ton in 2022, growing by 11% against the previous year. Over the last decade, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2015 when the average import price increased by 36% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

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 Guatemala ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform