Sales of baked goods show declines in Portugal in 2020, mainly due to negative impacts from COVID-19. However, not all sub-categories have been equally affected.
Rather than being negatively impacted by COVID-19 per se, dessert mixes has been declining for several consecutive years and actually sees a less-steep decline in 2020. The slight uptick is attributed to the fact that, whilst consumers have been home-baking their own desserts from scratch, more time spent at home also means a higher prevalence of snacking occasions, thus consumers have also been reaching out to dessert mixes as well as creating their own.
Panrico - Produtos Alimentares Lda maintains its company lead in baked goods, by a small margin, in 2020. However, the category is highly fragmented and the player’s Donuts and Bollycao brands come in at sixth and seventh place in brand terms, with private label brands topping this list: Sonae Modelo Continente Hipermercados SA’s Continente brand comes in first place, followed by Pingo Doce from Pingo Doce - Distribuição Alimentar SA in second place.
COVID-19 has strengthened the position of locally produced products, as safety and hygiene become of stronger priority for consumers. For example, as seen with Pão de Cereais do Alentejo (bread produced with Alentejo cereals), an initiative started in 2017 by Portuguese Association of Cereal Producers (ANPOC), bringing the national producers, researchers and major retailers together to offer a 100% Portuguese bread.
COVID-19 has also increased the demand for natural and healthy products overall, which is expected to grow even further over the forecast period. Players are meeting this demand, for example as seen with Bimbo Lda and Panrico - Produtos Alimentares Lda launching new bread varieties addressing consumers’ increasing demand for more natural and healthy products in 2020.
A new wave of bakery stores has proliferated all over Portugal, in major cities, competing with mass retail and driving down unpackaged bread sales in hypermarkets and supermarkets. Padaria da Esquina (Corner Bakery) opened a third store in a noble area of Lisbon, with a shop and esplanade, towards the end of 2019.
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This report originates from Passport, our Baked Goods research and analysis database.
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