Market Report, "Baked Goods in Portugal", published

The popularity of packaged/industrial baked goods increased in Portugal in 2014. The main reason for the move towards packaged/industrial baked goods was convenience. These products are easier to store than their unpackaged/artisanal equivalents. Moreover, despite their higher prices, packaged/industrial baked goods offer consumers the opportunity to save as they can be preserved longer and therefore allow consumers to avoid waste. In a still difficult economic context this was an important factor.

Competitive Landscape

Panrico - Produtos Alimentares remained the leading branded company in baked goods in Portugal in 2014 with a value share of 6%, which represented a marginal increase compared to 2013. The company’s success can be attributed to its strong presence in the packaged/industrial bread category, in which it has developed a considerable experience over many years and a high level of consumer loyalty. Furthermore, the company’s success can also be partially attributed to strong brands, such as Panrico and Bollycao. Nevertheless, the company faced financial difficulties in Spain, its home market. At the end of the review period it had €700 million of debt and had to stop paying its employees for a while. The company began a restructuring process, yet if it does not recover in Spain, this could affect its performance in the Portuguese market.

Full Report Details at
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Industry Prospects

Baked goods is expected to remain the largest category within bakery in Portugal over the forecast period in terms of retail volume and value sales at constant 2014 prices, as bread is a staple product. It is expected to continue to be purchased by Portuguese consumers on a regular basis regardless of the economic situation in the country. Sales are expected to perform better than over the review period, decreasing by 1% in volume terms whilst remaining stable in constant value terms. While the economy in Portugal is expected to improve, this will be limited and consumers will remain cautious in their consumption. The majority of Portuguese consumers will continue to adhere to the austere spending habits they developed during the economic recession, even as the Portuguese economy improves, leading many of them to purchase less bread than they did previously.

Report Overview

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