Supply chain challenges and higher global cellulose raw material prices led to higher average retail prices for tissue and hygiene products in 2023. Despite inflation, the reopening of society favoured products that offer convenience as lifestyles became increasingly hectic once more, while the declining birth rate led to moderate growth in nappies/diapers/pants.
The tourism industry witnessed an increase in tourism in 2023, with the number of visitors representing the most visitors in the history of tourism to Panama. Away-from-home sales recovered and exceeded 2019 levels, supported by tourist hotels as well as the reopening of restaurants and shopping centres.
According to Euromonitor International, 22% of the population in Panama are living under the national poverty line, with this impacting one million people in a country with a population of just over four million. Moreover, the wealthiest 10% of the population account for just under 40% of the national income, a staggering contrast to the 40% earned by the poorest socioeconomic groups, which is nearly 13 times less.
In 2022, Panama's GDP experienced growth at 11%. However, the IMF projects a more moderate growth of 5.
Panama remains one of the most vital global logistics hubs, primarily attributed to the significance of the Panama Canal, which has facilitated the development of a highly efficient maritime and land infrastructure. A multitude of key logistics operators have established offices, warehouses, or distribution centres within the country.
Panama is expected to continue showing one of the highest per capita incomes in the Central American region. A sustained strengthening of the middle class favours stable growth in the volume sales of tissue and hygiene products.
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Tissue and Hygiene
This is the aggregation of retail and away-from home tissue and disposable hygiene products as well as Rx/reimbursement adult incontinence.
See All of Our DefinitionsThis report originates from Passport, our Tissue and Hygiene research and analysis database.
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