Key regions: Canada, Philippines, China, Spain, India
The Spreads Market in Portugal is seeing slow growth due to factors such as changing consumer preferences, increasing health awareness, and convenience of online shopping. Sub-markets like Jams & Marmalades, Chocolate Spreads, and Peanut Butter also contribute to this trend.
Customer preferences: In Portugal, there has been a noticeable shift towards healthier and more natural spreads options, as consumers become more health-conscious and seek to reduce their sugar intake. This trend is also seen in the increasing popularity of natural sweeteners like honey and maple syrup. Additionally, there has been a growing demand for organic and locally sourced spreads, reflecting a preference for sustainable and ethically produced food products. This shift towards healthier and more sustainable options is driven by changing cultural attitudes and a desire for more transparent and ethical food choices.
Trends in the market: In Portugal, the Spreads & Sweeteners Market within The Food market is seeing a rise in demand for healthier and more natural options. Consumers are increasingly seeking out spreads and sweeteners made with natural ingredients, such as honey or stevia, and avoiding those with artificial additives. This trend is driven by a growing awareness of the negative health effects of processed foods and a desire for more sustainable and ethically-sourced products. As a result, companies in the market are investing in research and development to meet this demand and stay competitive. This trend is expected to continue, with potential implications for industry stakeholders including the need for product innovation and marketing strategies that emphasize the use of natural ingredients.
Local special circumstances: In Portugal, the Spreads & Sweeteners Market within The Food market is influenced by the country's rich culinary tradition and preference for natural ingredients. This has led to a demand for spreads and sweeteners made from locally sourced fruits and honey. Additionally, the government's strict regulations on food additives have resulted in a limited market for artificial sweeteners. The unique combination of cultural and regulatory factors has created a niche market for natural and organic spreads and sweeteners in Portugal, catering to health-conscious consumers.
Underlying macroeconomic factors: The Spreads Market in Portugal is heavily influenced by macroeconomic factors such as consumer spending, economic stability, and government policies. With a stable economy and increasing disposable income among consumers, there has been a growing demand for higher-quality and healthier spreads and sweeteners in the country. Additionally, favorable government policies promoting healthy eating habits and the rising trend of health-consciousness among consumers are expected to drive the growth of the Spreads Market in Portugal. The increasing prevalence of chronic diseases and the aging population in the country also contribute to the demand for healthier spreads and sweeteners, further boosting market growth.
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.
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