Snacks is set to see a significant rebound in 2022 as lifestyles will resume a greater degree of normality with the passing of the pandemic. A lifting of restrictions will enable consumers to return to normal activity outside the home, enabling them to indulge in snacks once more as these are widely available at low prices and seen as affordable treats.
Panama began 2021 under strict home seclusion measures, which were slowly relaxed over the months. This is because the vaccination campaign had not reached mass delivery until the second quarter of the year.
The working-class community in Panama typically consumes three meals per day, consisting of breakfast, lunch and dinner. Breakfast is usually fried and includes products such as eggs, tortillas (corn based), carimañola (a yuca- and meat-based pie), bread, empanadas and hojaldra (a flour-based fried bread).
Panama has a relatively high per capita GDP, although there is also a high level of income inequality. Rapid economic growth and stronger social safety nets helped reduce poverty before the pandemic, but there are still large concentrations of poverty along the Caribbean coast and in some rural areas, which threaten political stability.
Panama forms the longest and most slender section of the isthmus, which divides Central America from South America, and extends in an S-shape, some 700km from east to west, between Costa Rica and Colombia. The land is traversed by the Panama Canal, the all-important marine link that connects the Caribbean Sea (and thus the Atlantic Ocean) with the Pacific Ocean.
Snacks is expected to see a strong rebound in sales and consumption from 2022 onwards thanks to the resumption of most face-to-face activities. Snacks are often consumed outside the home and their easy portability, such as cookies or chips, makes them ideal for lunchboxes.
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This report originates from Passport, our Snacks research and analysis database.
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