Alcoholic beer market in Panama

Earlier Report Observations

The Panamanian alcoholic beer market entered the period with a structure dominated by two major breweries, Cervecería Nacional and Cervecería Barú-Panamá. Market dynamics were shaped by a diversification towards premium imported brands and the early consolidation of a local craft segment, with the first craft brewery Istmo gaining popularity. While production volume was high at 303.6 million liters in 2018, it declined the following year even as imports rose significantly to 65.5 million liters, a shift supported by growing consumer demand for variety and quality. The craft segment continued its expansion, with 28 Panamanian breweries reported by 2019.

The COVID-19 pandemic in 2020 led to a severe market contraction, with volume dropping to 252.5 million liters as closures of bars and restaurants disrupted on-premise sales. Production fell to 191.5 million liters, though the industry showed resilience by adapting to increased at-home consumption. The market recovered sharply in 2021, with production jumping 34.5% to 257.5 million liters, a rebound aligned with reported growth in total alcoholic beverage production of 35.2% for the year, fueled by Panama's high per capita beer consumption and strong competition between national and imported brands.

Following the rebound, production stabilized around 256-263 million liters in 2022-2023. The trend towards premium and craft beers persisted, driven by younger urban consumers. In 2023, alcoholic beverage production increased by 2.4%, with beer representing 93.6% of the total, and the craft segment solidified with 28 operating breweries. However, total market volume fell to 303.3 million liters in 2023, influenced by a sharp drop in imported volumes, even as festive seasons provided a temporary boost to sales and production.

Production alcoholic beer in Panama

In kind, 2017-2020, M l

Top producers of alcoholic beer, 2017-2020

World map of production of alcoholic beer, 2017-2020

Panama's alcoholic beer production volume declined for the third consecutive year. In 2020, Panama produced 191.5 million liters of alcoholic beer, representing a sharp decrease of 30.2% compared to the previous year. Between 2017 and 2020, production decreased by 38.4%, equating to an annualized rate of 14.9%.

Annual dynamics of production in Panama in kind, 2017-2020, M l

In value, 2017-2020, M $ US

Panama's alcoholic beer production declined for the third consecutive year. In 2020, the output of alcoholic beer was valued at 186.1 million US dollars in Panama, down by 33.3% compared to 2019. Between 2017 and 2020, production decreased by 39.4%, equating to an annualized rate of 15.4%.

Annual dynamics of production in Panama in value, 2017-2020, M $ US

Exports alcoholic beer from Panama

Exports in kind, K l

In 2020, alcoholic beer exports from Panama totaled 6 847 thousand liters, constituting a modest decline of 9.7% compared to the previous year. Over the period from 2017 to 2020, exports increased by 16.5%, with a compound annual growth rate (CAGR) of 5.2%. The minimum value was recorded in 2018 at 5 685 thousand liters, while the maximum value was recorded in 2019 at 7 584 thousand liters. The largest increase occurred in 2019, with a growth of 33.4%.

Annual dynamics of product's exports from Panama in kind, 2017-2020, K l

From 2017 to 2020, exports in kind of alcoholic beer from Panama were not heavily concentrated. Chile accounted for 23.0% of exports in kind, Uruguay for 8.0%, and Cuba for 6.1%, with these three countries together capturing only 37.0% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Panama in kind, 2017-2020

Exports in value, K $ US

Panama exported 6 656 thousand US dollars worth of alcoholic beer in 2020, which is 13.6% less compared to 2019. Between 2017 and 2020, exports increased by 14.7%, equating to an annualized rate of 4.7%. The minimum value was recorded in 2018 at 5 603 thousand US dollars, while the maximum value was recorded in 2019 at 7 707 thousand US dollars. The largest increase occurred in 2019, with a growth of 37.5%.

Annual dynamics of product's exports from Panama in value, 2017-2020, K $ US

From 2017 to 2020, exports in value terms of alcoholic beer from Panama were widely dispersed across partner countries. Chile accounted for 23.0% of exports in value terms, Uruguay for 8.0%, and Cuba for 6.0%, with these three countries together representing only 37.1% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Panama in value, 2017-2020

Imports alcoholic beer to Panama

Imports in kind, K l

Cross-border shipments of alcoholic beer to Panama increased for the third consecutive year. In 2020, Panama imported 67 882 thousand liters of alcoholic beer, marking a moderate increase of 3.6% compared to 2019. Between 2017 and 2020, imports increased by 140.3%, equating to an annualized rate of 33.9%.

Annual dynamics of product's imports to Panama in kind, 2017-2020, K l

Throughout 2017 to 2020, the United States, Mexico, and Guatemala remained the main markets for imports in kind of alcoholic beer to Panama. The United States accounted for 40.3% of imports in kind, Mexico for 26.0%, and Guatemala for 13.5%, with these three countries jointly taking 79.7% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Panama in kind, 2017-2020

Imports in value, K $ US

After a two-year gain, Panama's alcoholic beer imports declined. In 2020, imports amounted to 58 997 thousand US dollars, constituting a drop of 2.1% compared to the previous year. Over the period from 2017 to 2020, imports increased by 103.8%, with a compound annual growth rate (CAGR) of 26.8%. The maximum value was recorded in 2019 at 60 239 thousand US dollars, and the largest increase occurred in 2019, with a growth of 46.4%.

Annual dynamics of product's imports to Panama in value, 2017-2020, K $ US

From 2017 to 2020, three main markets—the United States, Mexico, and Guatemala—together absorbed 80.7% of total imports in value terms of alcoholic beer to Panama.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Panama in value, 2017-2020