Envelopes market in Portugal

Earlier Report Observations

Between 2018 and 2020, the Portuguese envelopes market experienced initial stability followed by growth. Competitive price pressures in the paper and board sector kept market value subdued in 2018 and 2019. The COVID-19 pandemic then significantly boosted the paper packaging industry in 2020, as expanded e-commerce and essential packaging demand increased consumption of paper-based products, including envelopes, raising the market size to 9.7 million $ US.

The market contracted sharply in 2021 and 2022. The closure of uncoated paper mills in Europe, such as Stora Enso's facility in Finland, impacted supply and costs for the European market, affecting Portugal. Despite broader sector growth driven by e-commerce and innovation from major players like Mondi, the envelopes market faced challenges in the supply chain for recycling raw materials, contributing to a continued decline in market value to 7.6 million $ US by 2022.

A strong recovery began in 2023, with the market jumping to 9.2 million $ US, fueled by improved macroeconomic conditions like controlled inflation and falling interest rates, which bolstered consumer purchasing power. The ongoing consumer preference for sustainable, recyclable packaging further supported demand. This upward trend continued into 2024, with the market reaching 10.7 million $ US.

Production envelopes in Portugal

In value, 2018-2021, K $ US

In 2021, Portugal's envelope production was valued at 9 150 K $ US, showing little change from the previous year. Looking at the broader period from 2018 to 2021, production decreased by 4.2%, which translates to an annualized decline of 1.4%. The lowest value was recorded in 2019 at 8 621 K $ US, with the largest year-on-year drop of 9.7% occurring that same year. In contrast, 2020 saw the biggest increase at 6.4%.

Annual dynamics of production in Portugal in value, 2018-2021, K $ US

In kind, 2018-2021, t

Portugal's envelope production declined for the third consecutive year in 2021, with output reaching 4 971 t. This represented a modest decrease of 7.8% compared to 2020. Over the period from 2018 to 2021, production fell by 22.6%, averaging an annualized decline of 8.2%.

Annual dynamics of production in Portugal in kind, 2018-2021, t

Exports envelopes from Portugal

Exports in kind, t

After two years of decline, Portugal's envelope exports rebounded in 2021, reaching 943 t. This marked a significant increase of 36.9% compared to 2020. However, over the full period from 2018 to 2021, exports decreased by 22.4%, with an annualized decline of 8.1%. The lowest export volume was recorded in 2020 at 689 t, which also saw the largest year-on-year drop of 37.2%.

Annual dynamics of product's exports from Portugal in kind, 2018-2021, t

From 2018 to 2021, the United Kingdom, Spain, and Morocco were the top destinations for Portugal's envelope exports in volume terms. The United Kingdom accounted for 30.4% of exports, Spain for 21.1%, and Morocco for 10.8%. Together, these three countries represented 62.3% of total export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Portugal in kind, 2018-2021

Exports in value, K $ US

Portugal's envelope export values showed notable fluctuations between 2018 and 2021. The period from 2018 to 2020 saw a peak-to-trough amplitude of 2.5 times. In 2021, exports reached 3 055 K $ US, a sharp increase of 79.9% compared to 2020. The lowest value was recorded in 2020 at 1 699 K $ US, while the largest decline occurred in 2019 with a drop of 38.3%.

Annual dynamics of product's exports from Portugal in value, 2018-2021, K $ US

From 2018 to 2021, Portugal's envelope export values were distributed across multiple countries without a clear dominant partner. Spain accounted for 19.0% of exports, the United Kingdom for 18.7%, and Angola for 12.3%. Together, these three countries made up 50.0% of total export flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Portugal in value, 2018-2021

Imports envelopes to Portugal

Imports in kind, t

After two years of decline, Portugal's envelope imports increased in 2021, reaching 940 t. This represented a rise of 27.0% compared to 2020. Over the period from 2018 to 2021, imports decreased by 44.3%, with a compound annual growth rate (CAGR) of -17.7%. The lowest import volume was recorded in 2020 at 740 t, which also saw the largest year-on-year decline of 42.5%.

Annual dynamics of product's imports to Portugal in kind, 2018-2021, t

From 2018 to 2021, Spain and Germany were the key sources for Portugal's envelope imports in volume terms. Together, they accounted for 83.1% of total import flows, with the remainder distributed among other partners.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Portugal in kind, 2018-2021

Imports in value, K $ US

Following a two-year drop, Portugal's envelope import values increased in 2021, reaching 2 527 K $ US. This marked a year-on-year rise of 12.1%. However, over the period from 2018 to 2021, imports decreased by 42%, with an annualized decline of 16.6%. The lowest value was recorded in 2020 at 2 255 K $ US, which also saw the largest year-on-year drop of 37.3%.

Annual dynamics of product's imports to Portugal in value, 2018-2021, K $ US

From 2018 to 2021, Spain and Germany dominated Portugal's envelope import values, jointly accounting for 80.8% of total flows. The remaining imports were spread across smaller markets.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Portugal in value, 2018-2021