“The Portuguese spirits market reached a value of $751 million in 2003, having grown with a compound annual growth rate (CAGR) of –2.2% in the 1999-2003 periods. This growth was weaker than that of the European market itself, leading to the Portuguese market’s share decreasing by 0.1 percentage points between 1999 and 2003, accounting for 1% of the European market by the end of this period.” (‘Spirits Industry Profile:Portugal’, 2004) The main product that is produced in the spirits sector in Portugal pertains to whisky which accounted for over 75 percent of the market. Overall as the entire spirit sector is decreasing in terms of its value in the market as well as its volume. However Vodka was one spirit which indicated a rise in both its market value as well as in its consumption. This was the only segment which did not have a negative growth in thePortugalspirits industry. It is predicted however that by “By 2008 the market is forecast to reach a value of $673 million, a CAGR of –
2.2% in the 2003-2008 period, lower than that predicted for the European market” (‘Spirits Industry Profile:Portugal’, 2004)
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