Key Market Indicators
Portuguese spirits sales are projected to hit nearly €120 million by 2028, up from approximately €105 million in 2023. This reflects an annual growth rate of 2.1%. Over the past decade, the market has seen an average yearly increase of 3.7%. In 2023, Portugal ranked 14th in the global spirits market, with Serbia surpassing it by reaching the same €105 million mark. France, Poland, and Italy secured the second, third, and fourth positions, respectively. On the production front, Portuguese spirits are expected to reach around €116 million by 2028, growing from €101 million in 2023. This represents a compound annual growth rate (CAGR) of 2.2%. Since 2013, the country's supply has grown at an average annual rate of 4.3%. In 2023, Portugal ranked 13th in production, with Greece overtaking it by achieving the €101 million mark. France, Italy, and Poland occupied the second, third, and fourth spots in this category. In terms of consumption, the Portuguese spirits market is forecasted to remain relatively stable, reaching approximately €210 million by 2028, barely moving from €210 million in 2023. This indicates zero growth year on year. Since the last decade, demand has decreased by 1.5% annually. Italy, Spain, and Germany were the second, third, and fourth largest consumers in this ranking.