Portugal: Dairy Spread Market 2024

Dairy Spread Market Size in Portugal

The Portuguese dairy spread market rose modestly to $X in 2022, with an increase of 4.1% against the previous year. Overall, consumption showed a perceptible setback. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Dairy Spread Production in Portugal

In value terms, dairy spread production reduced modestly to $X in 2022 estimated in export price. In general, production saw a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 10% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Dairy Spread Exports

Exports from Portugal

In 2022, approx. X tons of dairy spreads were exported from Portugal; rising by 51% compared with the previous year. Overall, exports enjoyed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 525% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, dairy spread exports skyrocketed to $X in 2022. In general, exports saw significant growth. The growth pace was the most rapid in 2021 when exports increased by 643% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the near future.

Exports by Country

Spain (X tons) was the main destination for dairy spread exports from Portugal, with a 74% share of total exports. Moreover, dairy spread exports to Spain exceeded the volume sent to the second major destination, Libya (X tons), fivefold. Angola (X tons) ranked third in terms of total exports with a 5.7% share.

From 2012 to 2022, the average annual growth rate of volume to Spain amounted to +143.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Libya (-0.1% per year) and Angola (+50.8% per year).

In value terms, Spain ($X) remains the key foreign market for dairy spreads exports from Portugal, comprising 64% of total exports. The second position in the ranking was taken by Libya ($X), with a 23% share of total exports. It was followed by Angola, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain amounted to +120.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Libya (-4.3% per year) and Angola (+49.8% per year).

Export Prices by Country

In 2022, the average dairy spread export price amounted to $X per ton, waning by -18.5% against the previous year. In general, the export price recorded a mild contraction. The most prominent rate of growth was recorded in 2017 an increase of 23% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then reduced sharply in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Libya ($X per ton), while the average price for exports to Spain ($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 France (+2.2%), while the prices for the other major destinations experienced a decline.

Dairy Spread Imports

Imports into Portugal

In 2022, approx. X tons of dairy spreads were imported into Portugal; falling by -8.2% compared with the previous year's figure. Overall, imports saw a noticeable slump. The pace of growth appeared the most rapid in 2013 when imports increased by 15%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, dairy spread imports amounted to $X in 2022. In general, imports continue to indicate a pronounced shrinkage. The growth pace was the most rapid in 2013 with an increase of 21% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Belgium (X tons) constituted the largest dairy spread supplier to Portugal, accounting for a 58% share of total imports. Moreover, dairy spread imports from Belgium exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. The third position in this ranking was taken by Spain (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium amounted to -5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-4.2% per year) and Spain (+0.5% per year).

In value terms, Belgium ($X) constituted the largest supplier of dairy spreads to Portugal, comprising 57% of total imports. The second position in the ranking was held by France ($X), with a 21% share of total imports. It was followed by Spain, with an 18% share.

From 2012 to 2022, the average annual growth rate of value from Belgium stood at -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-1.8% per year) and Spain (+2.9% per year).

Import Prices by Country

In 2022, the average dairy spread import price amounted to $X per ton, surging by 18% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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