Wine remains dynamic in the domestic market, sustained by two main factors: the large tourist demand and a rising interest in wine from Portugal. Strong investment in wine quality and wine certification, consumers’ increased knowledge and openness to pay more for better and differentiated wine have resulted in value growth exceeding volume growth.
Portugal has a low tradition of consuming sparkling wine as this drink is almost exclusively associated with celebratory moments. A different approach, with vineyards specifically allocated to produce sparkling wine and the investment that has been made by main producers in recent years, is resulting in a global increase in the quality of sparkling wine in Portugal.
Despite still high per capita consumption, which is considerably influenced by tourist demand, national consumers are drinking higher-quality wines than in the past, but less frequently, diminishing actual volume sales growth. Increased competition from alternative beverages, health concerns and an ageing population are likely to negatively impact the future evolution of wine volume sales.
In recent years, wine has gained a new and fashionable image, attracting several new small producers. This is putting additional pressure on prices, with the off-trade channel benefiting from the winegrower’s need to sell its produce, further encouraging the current intense promotional activity.
Still red wine continues to represent most of still light grape wine sales. Nonetheless its share is declining as producers of still white wine and still rosé wine reinforce their offering in the market and increase the attractiveness of these drinks.
Intense promotional activity from leading off-trade retailers strongly diminishes producers’ margins. Therefore producers are focusing their sales efforts on searching for markets outside of Portugal and trying to develop their position in the on-trade.
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This industry report originates from Passport, our Alcoholic Drinks market research database.