Meat - Portugal

Portugal

Revenue in the Meat market amounts to €6,051.00m in 2024. The market is expected to grow annually by 3.35% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€253bn in 2024).
In relation to total population figures, per person revenues of €591.80 are generated in 2024.
In the Meat market, volume is expected to amount to 798.30m kg by 2029. The Meat market is expected to show a volume growth of 1.7% in 2025.
The average volume per person in the Meat market is expected to amount to 72.5kg in 2024.

Key regions: Russia, China, Spain, Canada, United Kingdom

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Analyst Opinion

The Meat Market in Portugal is seeing slow growth due to factors such as consumer preference for fresh and processed meat, health concerns around red meat, and the increasing popularity of meat substitutes. The market's negligible growth rate can also be attributed to the economic downturn and recent food safety scandals.

Customer preferences: As consumers become more health-conscious, there is a growing demand for sustainable and ethically-sourced meat products. This trend is driven by cultural values of supporting local farmers and reducing the environmental impact of meat production. Additionally, with the rise of flexitarian and plant-based diets, there is an increasing demand for alternative meat options such as plant-based meats and meat substitutes. These shifts in consumer preferences are also influenced by the changing demographics, with younger generations being more conscious about their food choices and the impact on the planet.

Trends in the market: In Portugal, the Meat Market within The Food market is experiencing a rise in demand for plant-based meat alternatives, driven by increasing health and environmental concerns. Additionally, there is a growing trend of online meat sales, as consumers seek convenient and contactless shopping options. These trends have significant implications for industry stakeholders, who must adapt to changing consumer preferences and invest in technology to cater to the growing demand for online purchases. This trajectory is likely to continue, as the market for sustainable and convenient food options continues to expand.

Local special circumstances: In Portugal, the Meat Market within The Food market is heavily influenced by the country's rich culinary tradition and strong preference for locally sourced, high-quality ingredients. This has led to a diverse range of meat products, such as cured meats and traditional sausages, that are highly valued by consumers. Additionally, strict regulations on meat production and labeling have resulted in a high level of consumer trust in the quality and safety of Portuguese meat products. This unique combination of cultural and regulatory factors has contributed to the strong and stable demand for meat in the Portuguese market.

Underlying macroeconomic factors: The Meat Market within The Food market in Portugal is heavily influenced by macroeconomic factors such as consumer purchasing power, government regulations, and trade policies. With a growing economy and relatively stable political climate, Portugal's meat market has seen consistent growth in recent years. However, fluctuations in global meat prices and the impact of trade agreements and tariffs on imports and exports can significantly impact market performance. Additionally, consumer trends towards healthier and more sustainable food options are shaping the demand for meat products in Portugal, with a growing preference for organic, grass-fed, and ethically-sourced meats.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.