Juices - Portugal

The Juices market in Portugal has been experiencing significant growth in recent years.

Customer preferences: Portuguese consumers have shown a growing preference for healthier beverage options, including juices. With increasing awareness about the importance of a balanced diet and the benefits of consuming natural and nutritious products, more people are turning to juices as a way to incorporate vitamins and minerals into their daily routine. Additionally, the convenience factor of packaged juices has also contributed to their popularity, as they can be easily consumed on-the-go.

Trends in the market: One of the key trends in the Portuguese Juices market is the shift towards organic and natural products. Consumers are increasingly seeking out juices that are made from fresh fruits without any artificial additives or preservatives. This trend is driven by a desire for healthier and more sustainable options, as well as a growing concern for the environment. Another trend in the market is the demand for innovative flavors and combinations. Portuguese consumers are becoming more adventurous in their taste preferences and are open to trying new and unique juice flavors. This trend is being fueled by the introduction of exotic fruits and the blending of different fruits to create interesting flavor profiles.

Local special circumstances: Portugal's favorable climate allows for the cultivation of a wide variety of fruits, including oranges, lemons, and berries. This abundance of fresh produce contributes to the availability of high-quality juices in the market. Furthermore, the country's rich agricultural heritage and tradition of fruit cultivation have helped establish a strong foundation for the juice industry.

Underlying macroeconomic factors: The growing economy in Portugal has resulted in increased disposable income for consumers, enabling them to spend more on premium and healthier products such as juices. Additionally, the tourism industry in Portugal has been booming in recent years, attracting visitors from all over the world. This influx of tourists has created a demand for local products, including juices, contributing to the growth of the market. In conclusion, the Juices market in Portugal is experiencing growth due to changing customer preferences towards healthier options, the demand for organic and natural products, and the availability of a wide variety of fruits in the country. The growing economy and thriving tourism industry also play a significant role in driving the market forward.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

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 (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level 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 Non-Alcoholic Drinks 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.