Food - Portugal

Portugal

Revenue in the Food market amounts to €29.40bn in 2024. The market is expected to grow annually by 3.32% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of €6.05bn in 2024.
In global comparison, most revenue is generated in China (€1,487bn in 2024).
In relation to total population figures, per person revenues of €2,876.00 are generated in 2024.
In the Food market, 0.9% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 8,457.00m kg by 2029. The Food market is expected to show a volume growth of 1.3% in 2025.
The average volume per person in the Food market is expected to amount to 773.10kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Food market in Portugal is facing slow growth, with various factors impacting this trend. These include changing consumer preferences, increasing competition within sub-markets, and fluctuating commodity prices. Additionally, the rise of convenience food options and the growing demand for healthy, sustainable food choices are also shaping the market. Despite these challenges, the market is expected to continue growing, driven by innovations in product offerings and a growing focus on online sales channels.

Customer preferences: In Portugal, there has been a noticeable increase in consumer preference for locally sourced, organic and sustainable food products. This trend is driven by a growing awareness of the impact of food production on the environment and a desire for healthier, more natural options. Additionally, there has been a rise in demand for plant-based and vegetarian/vegan options, reflecting a shift towards more conscious and ethical consumption choices. These preferences are also influenced by the increasing availability of information and education on sustainable and ethical food practices.

Trends in the market: In Portugal, The Food market industry is experiencing a surge in demand for organic and locally sourced products. This trend is driven by a growing emphasis on sustainability and health-consciousness among consumers. With an increasing number of organic farms and markets, the trajectory of this trend is expected to continue upward. This has significant implications for industry stakeholders, as they need to adapt to changing consumer preferences and invest in sustainable practices. Additionally, the rise of e-commerce in The Food market is providing new opportunities for businesses to reach a wider customer base and cater to the growing demand for online shopping options.

Local special circumstances: In Portugal, The Food market is heavily influenced by the country's strong agricultural sector and rich culinary heritage. The local market is dominated by small-scale producers and traditional family-owned businesses, resulting in a diverse range of high-quality food products. Additionally, Portugal's geographical location and close ties to other European countries have led to the adoption of various international food trends, making it a unique and dynamic market. Furthermore, the country's strict food regulations ensure food safety and quality, contributing to the market's reliability and credibility.

Underlying macroeconomic factors: The Food market in Portugal is greatly impacted by macroeconomic factors, such as the country's economic health, fiscal policies, and global economic trends. Portugal's strong economic growth and stable fiscal policies have contributed to the growth of The Food market. Additionally, the country's investments in agriculture and food processing industries have also played a significant role in the market's success. Furthermore, favorable regulatory environments and the government's support for small and medium-sized enterprises have fostered a favorable business environment for The Food market in Portugal. The country's increasing demand for high-quality and innovative food products, coupled with the growing trend of healthy eating, has further driven the market's growth.

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.