Portugal Food Spending Shift: Growing Demand For More Convenience Foods

摘要

1. Food spending growth will ease over the 2019-2023 period, compared to the 2014-2018 with the maturity of Portugal’s foodsector and continued economic pressure both factors.2. Spending on meat will continue to dominate Portugal’s consumer food spend, with meat a key component of traditionalPortuguese dishes as well as a major input into convenience foods. Poultry already dominates meat in terms of volumesconsumed, but it is a cheaper meat regularly available domestically and the base for a number of traditional dishes. Its stronggrowth outlook is, we believe due to increased demand for convenience food.3. We project dairy’s share of food spending to increase significantly out to 2023, as Portuguese diets become more diversified.4. Fish and fish product’s share of total food spending is declining out to 2023, with declining sardine stocks, economic factors andshifting consumer preferences away from traditional diets all factors.