Cooking ingredients and meals in 2024: The big picture
Cooking ingredients and meals in Portugal registered robust growth over 2024, with retail volume sales picking up year-on-year. With inflation falling, purchasing power is gradually improving with the foodservice channel benefitting from a stronger propensity to eat out.
Key trends in 2024
Consumers are eating out more often as inflation and interest rates begin to fall, providing a more optimistic perspective for the foodservice category. Tourism is also supporting the category in the post-pandemic era.
Competitive landscape
Private label maintains a solid position in cooking ingredients and meals as Portuguese consumers consider them to offer good value for money by offering innovative presentations at a decent price. Retailers are at the forefront of innovation giving special emphasis to their lines at the point of sale.
Channel developments
Mercadona continues with its expansion plans and is having a key impact on the retail landscape in Portugal. It had some 50 stores in May 2024 and hopes to reach 60 stores by the end of the year.
What next for cooking ingredients and meals?
The steady recovery in consumer purchasing power is expected to boost consumption of cooking ingredients and meals over the forecast period. This prediction is based on the slowdown in inflation, the rise in wages above prices, and further reduction in interest rates.
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Overview:
Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Portugal with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Cooking Ingredients and Meals industry in Portugal, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Cooking Ingredients and Meals in Portugal report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Cooking Ingredients and Meals in Portugal?
- Which are the leading brands in Cooking Ingredients and Meals in Portugal?
- How are products distributed in Cooking Ingredients and Meals in Portugal?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Cooking Ingredients and Meals?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Portugal?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Cooking Ingredients and Meals in Portugal
Cooking ingredients and meals in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for cooking ingredients and meals?
DISCLAIMER
Edible Oils in Portugal
KEY DATA FINDINGS
Olive oil prices soar as shortages continue to plague the category
Other edible oils seek to capitalise on the high price of olive oil
Olive oil scarcity leads to counterfeiting and opportunism
Innovation linked to quality and sustainability
Low production and limited stocks of olive oil will keep the pressure on price
Olive oil usage set to rise in foodservice
Meals and Soups in Portugal
KEY DATA FINDINGS
New consumption occasions and portfolio diversification offers growth opportunities for brands
Soup consumption is increasing as it contributes to a healthier diet and can help shoppers economise
Retailers focus on ready meals to boost average spend and purchase frequency
Players to meet growing demand for healthier options
Retailers are expected to invest further in ready meals category
Rising purchasing power to positively impact retail and foodservice channels
Sauces, Dips and Condiments in Portugal
KEY DATA FINDINGS
Positive performance for sauces, dips and condiments
Health concerns drive product developments
Herbs and spices offer new flavour experiences
Table 38 will remain integral to consumer needs
Healthier offerings offer growth potential
Private label to increase its presence
Sweet Spreads in Portugal
KEY DATA FINDINGS
Brands tackle food waste and sustainability
Health concerns expand the range of sugar-free jams with high fruit content
Promotions are used to engage with consumers
Rising demand for higher quality honey
Brands and private label compete closely in jams and preserves
Optimism for sweet spreads in foodservice
The following categories and subcategories are included:
Cooking Ingredients and Meals
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- Olive Oil
- Corn Oil
- Palm Oil
- Rapeseed Oil
- Soy Oil
- Sunflower Oil
- Other Edible Oil
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- Dried Ready Meals
- Shelf Stable Ready Meals
- Chilled Ready Meals
- Frozen Ready Meals
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- Dry Soup
- Shelf Stable Soup
- Chilled Soup
- Frozen Soup
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- Chilled Pizza
- Frozen Pizza
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- Meal Kits
- Quick Recipe Kits
- Chilled Lunch Kits
- Prepared Salads
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- Liquid Stocks and Fonds
- Stock Cubes and Powders
- Gravy Cubes, Powders and Pots
- Monosodium Glutamate
- Herbs and Spices
- Tomato Pastes and Purées
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- Liquid Recipe Sauces (excl pasta sauces)
- Dry Recipe Sauces
- Pasta Sauces
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- Barbecue Sauces
- Fish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Sauces
- Chili Sauces
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- Dips
- Yeast-based Spreads
- Pickled Products
- Other Sauces and Condiments
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- Honey
- Chocolate Spreads
- Jams and Preserves
- Nut and Seed Based Spreads
Why buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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