Updated Sep 25, 2022 10:36

Market for Fruit Or Nut Preserves in Portugal

Market Overview
The Portuguese fruit or nut preserves market stood at $ in , surging by % 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 +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $ in 2019; however, from to , consumption failed to regain momentum.

In value terms, fruit or nut preserves production expanded modestly to $ in estimated in export price. Over the period under review, the total production indicated a temperate increase from 2007 to : its value increased at an average annual rate of +% over the last fourteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production decreased by -% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of %. Fruit or nut preserves production peaked at $ in 2014; however, from 2015 to , production failed to regain momentum.


Consumption
In , consumption of jams, marmalades, fruit jellies, fruit or nut purees and pastes was finally on the rise to reach tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, the total consumption indicated a tangible increase from 2007 to : its volume increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, consumption reached the maximum volume at tons in 2018; however, from 2019 to , consumption remained at a lower figure.

The revenue of the fruit or nut preserves market in Portugal was estimated at $ in , remaining constant 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 +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $ in 2019; however, from to , consumption remained at a lower figure.


Market Forecast
Driven by increasing demand for fruit or nut preserves in Portugal, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Portugal remains a net importer of fruit or nut preserves; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.