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Top Growth opportunities: Meat in Portugal

Top Growth opportunities: Meat in Portugal

Summary

Portugal is a mid-sized European meat market worth US$6.3 Billion. With a CAGR of 5.2% forecast in the five years to 2021, Portugal’s meat market is recovering steadily from the European sovereign debt crisis following strong export performance and a recovery in domestic demand. High unemployment and mass emigration threaten to restrict this recovery, along with high levels of corporate and household debt. The current low interest environment is also impeding the ability of Portuguese banks to increase liquidity and lend to viable businesses, limiting domestic NPD opportunities in the meat market.

The meat market in Portugal suffered heavily between 2011 and 2016, as the European sovereign debt crisis and corresponding EU-IMF bailout forced the government to implement spending cuts and tax increases. This resulted in a decline in meat market value during the same period. Despite this, a recovery is underway, and the meat market is forecast to experience strong growth in the five years to 2021.

In Portugal, all meat categories experienced contractions in value terms between 2011 and 2016, except the Ambient Meat category which registered sluggish growth at a CAGR of 0.05% during the same period. However, value growth is projected to rise rapidly in the next five years and all Meat categories are expected to register strong growth during 2016-2021. Chilled Raw Packaged Meat (Whole Cuts) and Fresh Meat (Counter), the two largest categories in value terms in 2016, are forecast to register strong growth during the same period, with CAGRs of 5.3% and 5.1%, respectively. This is a reversal of the negative growth experienced during 2011-2016.

In Portugal in 2016, Hypermarkets and Supermarkets accounted for almost 51% of meat consumption value, expanding their share of overall value by 2.4pp. This shows the prominence of the channel in the Portuguese market, and underlines its success in continuing to attract consumers in a difficult business environment. Food & Drink Specialists in meat often sell high-priced items such as gourmet and premium meat products, which help it to account for more than 32% of the money spent on meat in the country. A difficult business climate has restricted overall value growth – the lowest of all channels – and value share development.

Convenience Stores attract 13.7% of consumer spending on meat, despite having a higher price tag. This is because consumers are increasingly willing to pay more for convenience. Cash & Carries allow consumers to buy in bulk and save money on everyday food products such as meat and frozen goods.

The report Top Growth opportunities: Meat in Portugal, provides recommended actions and detailed analysis of how to target the best growth opportunities for meat producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of Meat markets in Portugal.

In particular, this report insight into -

  • Key consumer demographic groups driving consumption within the Portugese market. Improve your consumer targeting by understand who’s driving the market, what they want, and why.
  • A study of market value and volumes over 2011–2016 for Portugal, supplemented with category, brand and packaging analysis that shows the current state of the market, and how it will evolve over the 2016-2021 period.
  • White space analysis, to pinpoint attractive spaces in the market and the key actions to take
  • Insight into the implications behind the data, and analysis of how the consumer needs will evolve in the short-to-medium term future.
  • Examples of international and Portugal-specific product innovation targeting key consumer needs.
Companies mentioned in this report: Iglo, Capitao Iglo, Roler, Nobre, Nomad Foods, Campicarn, Nutriaves, Avibom, Carne Alentejana, Lusiaves, Principe, Aoste Stickado, Asda, Taste Inc., Le Gaulois, Broceliande, Outlanddish, Kubdu Gourmet, Bigard,Goldhill Organics, Linnamae, Can Cook, Meat District Jerky Co., Pingo Doce, Recheio, Intermarche Super, SPAR, Continente Modelo, Continente Hipermercados, Jumbo (Auchan), Minipreco, Lidl, ALDI, Makro, Continente Bom Dia.

Scope
  • Portugal will recover from decline to see strong growth, fueled by a recovering economy, and will present a strong opportunity as consumers have increased spending power
  • Portugal's Meat market contracted in value terms in the five years to 2016, but is forecast to demonstrate strong growth in the five years to 2021.
  • Ambient Meat, Chilled Raw Packaged Meat (Whole Cuts) and Cooked Meats (Counter) will see the fastest US$ value growth between 2016 and 2021.
  • Food & Drinks Specialists and Convenience Stores together account for almost the same retail landscape value share as Hypermarkets and Supermarkets. Portuguese consumers seek not only value and choice, but convenience also.
  • The top 10 meat brands in Portugal control over a fifth of market value. Private label brands are growing well in the Portuguese meat sector, although the dominance of the top brands in value terms means they are still somewhat marginal.
Reasons to buy
  • This report brings together consumer analysis and market data to provide actionable insight into the behavior of Portugal's Meat consumers.
  • This is based on GlobalData's unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the Meat sector.
  • Category, brand, and packaging dynamics are also examined.
  • This allows product and marketing strategies to be better aligned with the leading trends in the market.


  • Introducing a top growth market for meat
    • Top opportunity markets
    • GlobalData Consumer's opportunity scoring methodology
    • Top 10 global growth opportunities scores
    • Top global issues
    • Assessment against global strategic issues
    • GlobalData's strategic issues map
    • Predicted future issues for the Global Meat sector
    • Meat reward and risk assessment
    • Opportunity score - Portugal Overview
    • Consumer Meat spending trends - peer group comparisons
    • Political, Economic, Social and Technological: Analysis
    • Enablers and inhibitors of growth
    • Portugal - rewards and opportunities for growth
    • Summary of the Meat market in Portugal
  • Market insight - identifying the opportunities to move into
    • Market growth by category
    • Value growth of the Portuguese meat market by category
    • Contribution to change by value
      • Table Category values (US$ millions)
    • Volume growth of Portugal's meat market by category
    • Contribution to change by volume
      • Table Category volumes (million Kg)
    • Level of premiumization by category
    • Category analysis - key drivers of change in meat
  • Retail and distribution insight - key channels and retailers driving growth
    • Meat retail channel share - Portugal
    • Key Retail Channel trends
    • Routes to market - retail overview
    • Routes to market - key retailers
    • Drivers of change in the meat sector
  • Company and brand insight - the competitive landscape defined
    • Meat category fragmentation
    • Company and brand strength
    • Private label penetration
    • Brand Share by leading supplier for total Meat
    • International and domestic brand analysis
      • Table Top 5 international Meat brands
      • Table Top 5 domestic Meat brands
    • Company and brand strength
  • Consumer insight - who, what, when, where and why
    • Strategic issues map - pitfalls and opportunities
    • Key consumer drivers for meat
    • Key consumers trends in Portuguese Meat
    • Consumer groups - Key consumer targets
      • Table 2016 Consumption volume shares by consumer group
    • Key Health & Wellness trends
    • Consumer trends summary
  • Product and packaging insights -
    • Key Product Insights in meat
    • Trends and strategic issues - other notable product trends
    • Product & Packaging insights - Key product innovation case studies
    • Key product innovation case study: Taste Inc. - Ready to Eat Chargrilled Chicken Fillet
    • Key Packaging Insights
    • Trends and strategic issues - packaging material trends
    • Trends and strategic issues - packaging closure
    • Product launch key takeouts
  • White spaces and innovation opportunities - space to move into
    • Highest growth segments to target when entering the Portuguese meat market
    • Consumer spaces to target when entering the Portuguese meat market
    • Segment focus - opportunities
    • Product launch key takeouts
    • Recommendations for new ways to enter the meat market in Portugal
  • Appendix
    • Category Definitions: Loose & Unpackaged sales of fresh and cooked meat are tracked
    • Category Definitions: Ambient Meat
    • Category Definitions: Frozen Meat
    • Category Definitions: Chilled Raw Packaged Meat - Whole Cuts
    • Category Definitions: Chilled Raw Packaged Meat - Processed
    • Category Definitions: Cooked Meats - Counter
    • Category Definitions: Cooked Meats - Packaged
    • Category Definitions: Fresh Meat (Counter)
    • Channel Definitions
    • Product Attribute Definitions: Food Minus
    • Product Attribute Definitions: Functional & Fortified
    • Product Attribute Definitions: Naturally Healthy (NH)
    • Product Attribute Definitions: Food Intolerance (FI)
    • Accreditation Definitions
    • Consumer Benefit Definitions: Performance
    • Consumer Benefit Definitions: Health Management
    • Consumer Benefit Definitions: Weight & Shape Management
    • Consumer Benefit Definitions: Beauty From Within
    • Consumer Benefit Definitions: General Wellbeing
    • Consumer Packaged Goods Retail Data
    • Health & Wellness data is built using detailed store audits in combination with market volumes from GlobalData's market data research

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