Key regions: United Kingdom, Russia, Philippines, United States, Spain
The Soups market in Portugal is facing negligible growth due to factors such as low consumer demand, limited product innovation, and stiff competition from other convenience food options. Despite this, the market is expected to experience modest growth in the coming years due to the convenience and ease offered by these products to busy consumers.
Customer preferences: In Portugal, there has been a growing trend towards convenience and time-saving solutions in The Food market, particularly in the soups market of the convenience food market. This is driven by a shift towards busier lifestyles and the desire for quick and easy meal options. Additionally, there has been an increasing demand for healthier options, with consumers seeking out soups with fresh, natural ingredients and lower sodium levels. This trend is in line with the overall shift towards healthier eating habits and a greater focus on wellness and nutrition.
Trends in the market: In Portugal, the Soups Market within the Convenience Food Market is experiencing an increase in demand for healthier and more sustainable options. This trend is driven by consumers' growing awareness of the health benefits of plant-based and organic soups. Furthermore, there is a rise in demand for convenient and ready-to-eat soups, as busy lifestyles and the rise of single-person households create a need for quick and easy meal solutions. This trend is expected to continue, with industry stakeholders focusing on developing innovative and eco-friendly packaging solutions to cater to these consumer demands.
Local special circumstances: In Portugal, the Soups Market of the Convenience Food Market within The Food market is influenced by the country's strong culinary traditions, with a focus on fresh, local ingredients. This has led to a demand for healthy and high-quality soups, with a variety of regional flavors. Additionally, the country's busy urban lifestyle has driven the popularity of convenient and ready-to-eat soups, while its growing health consciousness has led to the rise of organic and low-sodium options. Moreover, Portugal's strict food regulations ensure the safety and quality of soups in the market, further boosting consumer confidence.
Underlying macroeconomic factors: The Soups Market of the Convenience Food Market within The Food market in Portugal is greatly impacted by macroeconomic factors. The overall economic health of the country, including GDP growth, inflation rates, and consumer confidence, can greatly influence consumer spending on convenience food products such as soups. Additionally, fiscal policies, such as taxes and subsidies, can affect the production costs and prices of soups, ultimately impacting market performance. Furthermore, global economic trends, such as changes in trade policies and currency exchange rates, can also impact the competitiveness and profitability of the soups market in Portugal. Overall, a favorable macroeconomic environment with stable economic conditions and supportive fiscal policies can drive growth in the soups market, while unfavorable conditions may hinder market performance.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
