Demand for hot drinks has been changing due to evolving consumer needs. The industry and its consumers are increasing the attention paid to sustainability and ethical production, leading to innovation.
Hot drinks is gaining momentum in Portugal, as are other fmcg. On the domestic front, the positive macroeconomic environment, with decreasing unemployment and increased private consumption are leading consumers to spend more on their purchases, thus fostering the value growth in retail, as well as contributing to the increase in out-of-home consumption.
Portugal’s openness in recent years is playing a key role in changing consumption habits in the country, influenced by both the inflows of tourists with different consumption habits and by the introduction of new habits to domestic consumers increasingly used to travel and exposure to different cultures. A shift is particularly seen amongst consumers of the millennial generation; they favour the introduction of new products and flavours and are more open to novelty, contributes to build value for the industry.
Nestlé Portugal and local company Novadelta – Comércio e Indústria de Cafés dominated hot drinks with a combined retail value share of more than 50% in 2018. Although global hot drinks powerhouses are present in the marketplace, plenty of local players hold significant shares.
Sustainability and ethical consumption have been at the core of the Portuguese hot drinks market, particularly in coffee, with the maturity of the pods category in the country contributing to put these concerns in the centre of the industry. There has been a sequence of new product launches with specific certifications, most commonly UTZ, but also Rainforest Alliance, Fair Trade and others, with brands launching special products to market these certifications.
In Portugal hot drinks is expected to see moderately accelerated volume growth during the forecast period, compared to the historic period, whilst value sales are expected to see moderate growth, particularly due to the maturing of the market, considering the impact of innovation and new ways of consuming hot drinks that occurred during the review period. The major factors affecting hot drinks are an ageing population with increasing health concerns and changes in consumption habits, contributing to the moderate to stagnant prospects for the forecast period.
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This industry report originates from Passport, our Hot Drinks market research database.