Portugal: Frozen Potato Market 2024

Frozen Potato Market Size in Portugal

In 2021, after two years of decline, there was significant growth in the Portuguese frozen potato market, when its value increased by 23% to $X. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Frozen Potato Exports

Exports from Portugal

In 2021, approx. X tons of frozen potatoes were exported from Portugal; shrinking by -33.5% on the previous year's figure. In general, exports, however, showed a modest expansion. The pace of growth was the most pronounced in 2019 when exports increased by 144% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, frozen potato exports reduced remarkably to $X in 2021. Overall, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 154%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The UK (X tons) was the main destination for frozen potato exports from Portugal, accounting for a 40% share of total exports. Moreover, frozen potato exports to the UK exceeded the volume sent to the second major destination, Angola (X tons), threefold. Spain (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to the UK amounted to +197.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (+0.3% per year) and Spain (-16.2% per year).

In value terms, the UK ($X) remains the key foreign market for frozen potatoes exports from Portugal, comprising 42% of total exports. The second position in the ranking was taken by Angola ($X), with a 12% share of total exports. It was followed by Belgium, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK amounted to +170.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (+0.3% per year) and Belgium (+90.9% per year).

Export Prices by Country

The average frozen potato export price stood at $X per ton in 2021, surging by 6.8% against the previous year. In general, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +9.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen potato export price increased by +28.7% against 2014 indices. The most prominent rate of growth was recorded in 2013 an increase of 33%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see gradual growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cabo Verde (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Potato Imports

Imports into Portugal

In 2021, purchases abroad of frozen potatoes was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, frozen potato imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Belgium (X tons), France (X tons) and the Netherlands (X tons) were the main suppliers of frozen potato imports to Portugal, with a combined 85% share of total imports. These countries were followed by Spain, which accounted for a further 14%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +6.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), France ($X) and the Netherlands ($X) constituted the largest frozen potato suppliers to Portugal, together comprising 83% of total imports. These countries were followed by Spain, which accounted for a further 16%.

Spain, with a CAGR of +7.4%, recorded the highest growth rate of the value of imports, in terms of 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 frozen potato import price stood at $X per ton in 2021, with an increase of 1.6% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 18%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and Spain ($X per ton), while the price for Belgium ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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