Key Market Indicators
The baked goods market is projected to decline significantly, dropping to approximately €591 million by 2028 from around €1.32 billion in 2023. This indicates a sharp decrease at an average annual rate of 12.8%. Over the past year, the market experienced a 7% reduction. Among European countries, Italy, the United Kingdom, and France are ranked second, third, and fourth, respectively, in this sector. In contrast, the Portuguese bread import market is set to see growth. By 2028, imports are expected to reach roughly $535 million, up from $483 million in 2023, reflecting a compound annual growth rate (CAGR) of 1.6%. Since 1993, demand for imported bread in Portugal has increased at an annual rate of 1.6%. Similarly, Portuguese bread exports are on the rise. Projections indicate that exports will hit around $388 million by 2028, increasing from approximately $340 million in 2023. This represents an average annual growth rate of 2.1%. Since 1993, Portugal's bread supply for export has grown by 2.3% per year.
