Portugal: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Portugal

In 2022, the Portuguese butter and dairy spreads market increased by 291% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption recorded a remarkable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Butter And Dairy Spreads in Portugal

In value terms, butter and dairy spreads production reduced to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 35% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Butter And Dairy Spreads

Exports from Portugal

In 2022, butter and dairy spreads exports from Portugal fell sharply to X tons, shrinking by -49.4% against the previous year. Overall, exports saw a abrupt decrease. The pace of growth was the most pronounced in 2015 with an increase of 41% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, butter and dairy spreads exports contracted remarkably to $X in 2022. In general, exports saw a pronounced downturn. The pace of growth appeared the most rapid in 2017 with an increase of 40% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

France (X tons), Spain (X tons) and the Netherlands (X tons) were the main destinations of butter and dairy spreads exports from Portugal, with a combined 64% share of total exports. Morocco, Saudi Arabia, Angola, Cuba, Belgium and Germany lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cuba (with a CAGR of +72.1%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Netherlands ($X) and Spain ($X) were the largest markets for butter and dairy spreads exported from Portugal worldwide, with a combined 62% share of total exports. Saudi Arabia, Morocco, Angola, Cuba, Germany and Belgium lagged somewhat behind, together accounting for a further 30%.

Cuba, with a CAGR of +76.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average butter and dairy spreads export price amounted to $X per ton, growing by 33% against the previous year. In general, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads export price increased by +55.2% against 2020 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 62%. The export price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Butter And Dairy Spreads

Imports into Portugal

In 2022, overseas purchases of butter and dairy spreads increased by 4.9% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, continue to indicate a slight decline. The pace of growth was the most pronounced in 2013 when imports increased by 11%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, butter and dairy spreads imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Spain (X tons) constituted the largest butter and dairy spreads supplier to Portugal, accounting for a 48% share of total imports. Moreover, butter and dairy spreads imports from Spain exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The third position in this ranking was held by France (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Spain totaled -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-5.0% per year) and France (-6.6% per year).

In value terms, Spain ($X), Belgium ($X) and France ($X) were the largest butter and dairy spreads suppliers to Portugal, together accounting for 73% of total imports. Germany, Finland and the Netherlands lagged somewhat behind, together comprising a further 23%.

Finland, with a CAGR of +582.1%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average butter and dairy spreads import price stood at $X per ton in 2022, jumping by 21% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+34.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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