The wine market in the Portugal has been going rather steady as compared t the Spirits market,. The local industry in the region has been responsible for much of the contribution to the market however the market still has been able to respond with only a 0.2 percent increase in the volume of production in 2003 as compared to 2002. Moreover thePortugalregion is responsible for about 3.3 percent of the wine market in the European Wine Industry. Aside from that the “The Portuguese wine market grew by 1.9% in 2003 to reach a value of $3,412 million.” (‘Wine Industry Profile:Portugal’, 2004) and “The largest sector in the market is the still wine segment, which accounted for 91.9% of the market in value terms.” (‘Wine Industry Profile:Portugal’, 2004)
“The Portuguese beer market has experienced steady growth over the 1999-2003 period. In 2003, the market was worth $1.46 billion, an increase of 9.0% since 1999, having grown with a compound annual growth rate (CAGR) of 2.2% for the period. This growth is slightly weaker than the European market itself. Over the next five years the Portuguese beer market is expected to continue with a steady growth. In 2008 the market value is expected to have risen to $1.72 billion, having increased with a CAGR of 3.2% for the 2003-2008 periods. This improved growth is expected to be stronger than the European average.” (‘Beer Industry Profile:Portugal’, 2004)
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