Portugal: Retail Foods 2024

In 2023, Portuguese imports of agriculture, fish and forest products from the United States reached $294 million, two percent higher than previous year. High inflation and a sharp rise in the cost of living, including increased food prices, led to a reduction in purchasing power and a greater demand for basic products in 2023. This trend continues in 2024, with consumers looking for cheaper products while still concerned about the quality of the products they buy. This continues to fuel demand for private label products, increasingly seen as an option that offers good value for money. Consumers are also becoming more trusting of the quality of private label products.