Portugal: Lactose Market 2024

Lactose Market Size in Portugal

The Portuguese lactose market skyrocketed to $X in 2022, with an increase of 18% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +4.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Lactose consumption peaked in 2022 and is expected to retain growth in the near future.

Lactose Exports

Exports from Portugal

In 2022, lactose exports from Portugal soared to X tons, rising by 180% compared with the previous year. Over the period under review, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 1,326% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, lactose exports surged to $X in 2022. Overall, exports showed a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 3,519% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Algeria (X tons) was the main destination for lactose exports from Portugal, with a 69% share of total exports. Moreover, lactose exports to Algeria exceeded the volume sent to the second major destination, Spain (X tons), threefold. The third position in this ranking was taken by Angola (X tons), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Algeria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+67.4% per year) and Angola (-3.1% per year).

In value terms, Algeria ($X) emerged as the key foreign market for lactose and lactose syrup exports from Portugal, comprising 80% of total exports. The second position in the ranking was taken by Spain ($X), with a 9.9% share of total exports. It was followed by Cabo Verde, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value to Algeria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+71.4% per year) and Cabo Verde (+14.6% per year).

Export Prices by Country

In 2022, the average lactose export price amounted to $X per ton, with an increase of 52% against the previous year. In general, the export price, however, showed a slight setback. The most prominent rate of growth was recorded in 2013 when the average export price increased by 154% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Spain ($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 Canada (+101.5%), while the prices for the other major destinations experienced more modest paces of growth.

Lactose Imports

Imports into Portugal

For the third consecutive year, Portugal recorded growth in supplies from abroad of lactose and lactose syrup, which increased by 26% to X tons in 2022. Overall, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.9% against 2019 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 38%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, lactose imports soared to $X in 2022. In general, total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +53.6% against 2019 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 39%. Imports peaked at $X in 2014; afterwards, it flattened through to 2022.

Imports by Country

Spain (X tons), Denmark (X tons) and the Netherlands (X tons) were the main suppliers of lactose imports to Portugal, together accounting for 85% of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +23.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lactose suppliers to Portugal were the Netherlands ($X), Spain ($X) and Denmark ($X), with a combined 81% share of total imports.

Denmark, with a CAGR of +38.7%, recorded the highest growth rate of 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

In 2022, the average lactose import price amounted to $X per ton, reducing by -5.9% against the previous year. Overall, the import price continues to indicate a mild decrease. The pace of growth appeared the most rapid in 2019 when the average import price increased by 36% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 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 Denmark (+29.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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