Panama: Refrigerated Show-Cases Market 2024

Refrigerated Show-Cases Market Size in Panama

The Panamanian refrigerated show-cases market contracted slightly to $X in 2022, falling by -3.2% against the previous year. Over the period under review, consumption continues to indicate a strong increase. Refrigerated show-cases consumption peaked at $X in 2021, and then shrank in the following year.

Refrigerated Show-Cases Production in Panama

In value terms, refrigerated show-cases production stood at $X in 2022 estimated in export price. Over the period under review, production saw a resilient increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 179%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Refrigerated Show-Cases Exports

Exports from Panama

In 2022, overseas shipments of refrigerated show-caseses were finally on the rise to reach X units after three years of decline. Over the period under review, exports posted a temperate increase. The most prominent rate of growth was recorded in 2018 with an increase of 583%. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, refrigerated show-cases exports soared to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 895%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guyana (X units) was the main destination for refrigerated show-cases exports from Panama, accounting for a 62% share of total exports. Moreover, refrigerated show-cases exports to Guyana exceeded the volume sent to the second major destination, the Dominican Republic (X units), threefold. Belize (X units) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Guyana amounted to +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+79.0% per year) and Belize (+46.9% per year).

In value terms, the largest markets for refrigerated show-cases exported from Panama were Belize ($X), the Dominican Republic ($X) and Grenada ($X), together comprising 51% of total exports. Guyana, Barbados, Suriname and Jamaica lagged somewhat behind, together comprising a further 29%.

Barbados, with a CAGR of +158.2%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average refrigerated show-cases export price amounted to $X per unit, increasing by 11% against the previous year. Over the period under review, the export price, however, saw a mild descent. The pace of growth appeared the most rapid in 2018 when the average export price increased by 46%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belize ($X per unit), while the average price for exports to Guyana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Barbados (+52.4%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerated Show-Cases Imports

Imports into Panama

In 2022, approx. X units of refrigerated show-caseses were imported into Panama; with a decrease of -6.7% compared with the previous year's figure. Over the period under review, imports, however, posted a significant increase. The pace of growth appeared the most rapid in 2017 when imports increased by 1,248% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, refrigerated show-cases imports contracted to $X in 2022. Overall, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by 1,081%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

The United States (X units), Mexico (X units) and Italy (X units) were the main suppliers of refrigerated show-cases imports to Panama, with a combined 57% share of total imports. China, Guatemala, Free Zones, Argentina and Denmark lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for Free Zones (with a CAGR of +139.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Mexico ($X) and Italy ($X) constituted the largest refrigerated show-cases suppliers to Panama, with a combined 57% share of total imports. China, Guatemala, Free Zones, Argentina and Denmark lagged somewhat behind, together accounting for a further 34%.

Among the main suppliers, Free Zones, with a CAGR of +171.4%, 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 refrigerated show-cases import price amounted to $X per unit, remaining constant against the previous year. Over the period under review, the import price saw a mild decline. The pace of growth was the most pronounced in 2021 an increase of 5.5% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Argentina ($X per unit) and Guatemala ($X per unit), while the price for Denmark ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform