Portugal: Canned Food Market 2024

Canned Food Market Size in Portugal

In 2021, the Portuguese canned food market decreased by -11.8% to $X, falling for the second year in a row after six years of growth. The market value increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Canned food consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Canned Food Production in Portugal

In value terms, canned food production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 14%. Canned food production peaked at $X in 2020, and then reduced in the following year.

Canned Food Exports

Exports from Portugal

In 2021, exports of canned food from Portugal stood at X tons, growing by 2.9% against 2020 figures. The total export volume increased at an average annual rate of +5.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 20% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, canned food exports expanded markedly to $X in 2021. The total export value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 30% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Spain (X tons), the UK (X tons) and France (X tons) were the main destinations of canned food exports from Portugal, with a combined 42% share of total exports. Russia, the United States, Italy, Germany, Angola, Sweden, Belgium, Poland, Saudi Arabia and Canada lagged somewhat behind, together comprising a further 40%.

From 2012 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden (with a CAGR of +53.3%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), France ($X) and the UK ($X) were the largest markets for canned food exported from Portugal worldwide, together accounting for 41% of total exports. These countries were followed by Russia, Angola, the United States, Sweden, Italy, Germany, Poland, Belgium, Saudi Arabia and Canada, which together accounted for a further 36%.

In terms of the main countries of destination, Sweden, with a CAGR of +73.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average canned food export price stood at $X per ton in 2020, rising by 8.6% against the previous year. Over the period under review, the export price, however, recorded a perceptible downturn. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2020, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Sweden ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Food Imports

Imports into Portugal

Canned food imports into Portugal expanded significantly to X tons in 2021, with an increase of 5.6% compared with 2020 figures. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 17% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, canned food imports rose notably to $X in 2021. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when imports increased by 14% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2020, Spain (X tons) constituted the largest canned food supplier to Portugal, with a 69% share of total imports. Moreover, canned food imports from Spain exceeded the figures recorded by the second-largest supplier, France (X tons), sevenfold. The third position in this ranking was held by Germany (X tons), with a 7.6% share.

From 2012 to 2020, the average annual growth rate of volume from Spain totaled +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-2.8% per year) and Germany (+1.1% per year).

In value terms, Spain ($X) constituted the largest supplier of canned food to Portugal, comprising 63% of total imports. The second position in the ranking was taken by Germany ($X), with a 10% share of total imports. It was followed by France, with a 10% share.

From 2012 to 2020, the average annual growth rate of value from Spain totaled +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.2% per year) and France (-4.2% per year).

Import Prices by Country

In 2020, the average canned food import price amounted to $X per ton, with an increase of 2.2% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 15% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2020, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Thailand (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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