The sugar tax, introduced in 2017, had a significant impact on the performance of fortified/functional beverages in 2018, due to the characteristics of some of these products, which traditionally incorporate high amounts of added sugar. For instance, energy drinks, sports drinks and FF juice drinks have been the most impacted categories.
FF sports drinks is expected to maintain a good performance throughout the forecast period. Its added functionality, namely energy boosting and hydrating characteristics, is expected to be in high demand particularly among regular sports practitioners.
New product developments in FF beverages have been contradictory. On the one hand, there has been a decline in investment in some categories, such as FF bottled water, that had previously seemed promising, while FF energy drinks, the largest category, remains a strong focus of innovation.
The competitive landscape of FF beverages is characterised by global companies represented by their respective global superbrands, such as leading brand Red Bull. A few domestic companies and brands are entering and embracing the leading positions, possibly due to the required investment to develop new products for an audience that remains niche.
Sunlover has been a case study in the Portuguese market. Despite its value sales, the brand is a global pioneer in nutricosmetic beverages, with regular product launches.
Private label lost traction in this category throughout the review period. The increase in household purchasing power, leading to more spending on private consumption and promotions among leading producers, made private label products less attractive.
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Overview: Discover the latest market trends and uncover sources of future market growth for the Fortified/Functional Beverages industry in Portugal with research from Euromonitor's team of in-country analysts.
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The Fortified/Functional Beverages in Portugal market research report includes:
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