Processed Meat - Portugal

Portugal

Revenue in the Processed Meat market amounts to US$2.30bn in 2024. The market is expected to grow annually by 2.17% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$42bn in 2024).
In relation to total population figures, per person revenues of US$224.50 are generated in 2024.
In the Processed Meat market, volume is expected to amount to 340.60m kg by 2029. The Processed Meat market is expected to show a volume growth of 0.7% in 2025.
The average volume per person in the Processed Meat market is expected to amount to 32.2kg in 2024.

Key regions: India, China, United Kingdom, Spain, South Korea

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Analyst Opinion

The Processed Meat Market within the Meat Market in The Food market of Portugal has been seeing a slow growth rate, influenced by factors such as increasing health consciousness among consumers and the convenience of online meat products. The sub-markets of Ham & Bacon, Sausages, and Cold & Roast Meat Products further contribute to this trend. However, the market is still facing challenges in terms of consumer preferences and competition from alternative protein sources, hindering its potential for significant growth.

Customer preferences: As health and environmental concerns continue to gain traction, there has been a notable shift towards plant-based and alternative protein options in the Processed Meat Market of the Meat Market within The Food market. This trend is driven by a growing awareness of the negative impacts of traditional meat consumption, as well as the rise of flexitarian and vegan diets. Additionally, there has been an increase in demand for organic and ethically sourced processed meat products, as consumers prioritize transparency and sustainability in their food choices.

Trends in the market: In Portugal, the Processed Meat Market within The Food market is experiencing a shift towards healthier options, with consumers increasingly seeking out plant-based and organic alternatives. This trend is driven by growing concerns over health and sustainability, and is expected to continue in the coming years. As a result, industry stakeholders are investing in research and development to meet this demand, and are also facing pressure to improve transparency and reduce the environmental impact of their products. Additionally, the rise of e-commerce and online food delivery services is creating new opportunities for processed meat manufacturers to reach a wider consumer base.

Local special circumstances: In Portugal, the Processed Meat Market of the Meat Market within The Food market is heavily influenced by the country's strong cultural ties to traditional meat-based dishes. This results in a preference for locally sourced and artisanal processed meats, rather than imported products. Additionally, strict regulations on food safety and labeling have led to a high level of consumer trust in the quality and origin of processed meat products. These factors contribute to a unique market dynamic that sets Portugal apart from other countries in terms of its processed meat market.

Underlying macroeconomic factors: The Processed Meat Market of the Meat Market within The Food market in Portugal is impacted by various macroeconomic factors. Global economic trends, such as changing consumer preferences and increasing demand for convenient and processed food products, are driving the growth of the market. Furthermore, the national economic health of Portugal, with a stable GDP and low unemployment rates, provides a favorable environment for market growth. Fiscal policies, such as government subsidies and tax incentives for the food industry, also play a significant role in shaping market dynamics. Other relevant financial indicators, such as inflation rates and exchange rates, also impact the performance of the market. Overall, these factors contribute to the steady growth of the Processed Meat Market in Portugal.

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.