1 Executive Summary 1.1. Major Developments 1.2. Market Segmentation 1.3. Per Capita 1.4. Distribution 1.5. The Suppliers 1.6. The Future 2 Background to the Market 2.1. Births 2.1.1. Live Birth Rates 2.1.2. The Baby Population 2.2. The Consumer 2.2.1. Living Standards 2.2.2. Eating Habits 2.3. Socio-Demographic Trends 2.3.1. Family Structure 2.3.2. Live Births by Age of Mother 2.4. Working Women 2.4.1. Female Employment 2.4.2. Maternity Legislation 2.5. Breastfeeding Trends 3 Market Profile 3.1. Overview 3.1.1. Introduction 3.1.2. Key Features and Developments 3.1.3. Manufacturers and Brands 3.2. Baby Milk 3.2.1. Key Features and Developments 3.2.2. Per Capita Trends 3.2.3. Market Segmentation 3.2.4. Manufacturers and Brands 3.3. Baby Cereals 3.3.1. Key Features and Developments 3.3.2. Per Capita Trends 3.3.3. Market Segmentation 3.3.4. Manufacturers and Brands 3.4. Wet Baby Meals 3.4.1. Key Features and Developments 3.4.2. Per Capita Trends 3.4.3. Market Segmentation 3.4.4. Manufacturers and Brands 3.5. Baby Drinks 3.5.1. Key Features and Developments 3.5.2. Per Capita Trends 3.5.3. Manufacturers and Brands 3.6. Finger Foods 3.6.1. Key Features and Developments 3.6.2. Per Capita Trends 3.6.3. Manufacturers and Brands 4 Distribution 4.1. Grocery Structure 4.2. Pharmacies 4.3. Baby Food Retailing 5 The Suppliers 5.1. Company Profiles 5.1.1. Introduction 5.1.2. Nestlé Portugal 5.1.3. Danone/MilupaComercial SA 5.1.4. Alter SA 5.2. Other Companies 5.2.1. LaboratóriosVitória SA 5.2.2. Mead Johnson 5.2.3. Milte Portugal SA 6 Foreign Trade 6.1. Imports 6.2. Exports 7 The Future 7.1. Future Determinants 7.1.1. Live Birth Trends 7.1.2. Consumer Attitudes 7.1.3. Health Guidelines 7.1.4. Future Trends 8 Economic and Demographic Background 8.1. Political and Economic Summary 8.2. Economic Background 9 Appendix 9.1. What is this Report About? 9.2. Time Frame 9.3. Product Category Coverage 9.4. Methodology 9.5. About Canadean 9.6. Disclaimer

Table 1: Baby Food: % Growth, 2009-2015 Table 2: Baby Food: Per Capita Consumption and Expenditure, 2014 and 2015 Table 3: Projected Market Size, 2021 and Growth Rates, 2015-2021 Table 4: Birth and Population Trends, 2005-2015 Table 5: Baby Population, 2005-2015 Table 6: Marriage and Divorce Trends, 2009-2013 Table 7: Live Birth Trends by Age of Mother, 2009-2014 Table 8: Trends in Working Women, 2009-2014 Table 9: Breakdown of the Female Workforce by Age, 2009-2014 Table 10: Proportion of Babies being Breastfed by Age Group, 1995/96 and 1998/99 and 2005/06 Table 11: Proportion of Babies being Breastfed by Age Group and Region, 2005-2006 Table 12: Baby Food: Market Value, Current Prices, 2009-2015 Table 13: Baby Food: Market Value, Constant Prices, 2009-2015 Table 14: Baby Food: Market Value, US Dollars, 2009-2015 Table 15: Baby Food: Market Volume, 2009-2015 Table 16: Baby Food: Per Capita Expenditure, Current Prices, 2009-2015 Table 17: Baby Food: Per Capita Expenditure, Constant Prices, 2009-2015 Table 18: Baby Food: Per Capita Expenditure, US Dollars, 2009-2015 Table 19: Baby Food: Per Capita Consumption, 2009-2015 Table 20: Baby Food: Manufacturer Share Trends, Value, 2008-2015 Table 21: Baby Food: Manufacturer Representation, Value, 2015 Table 22: Baby Milks: Sector Trends, 2009-2015 Table 23: Baby Milks: Per Capita Expenditure and Consumption, 2009-2015 Table 24: Baby Milks: Sector Segmentation, % Volume, 2010-2015 Table 25: Baby Milks: Sector Segmentation, % Value, 2010-2015 Table 26: Baby Milks: Market Breakdown, Powdered v Liquid, 2008-2012 Table 27: Powdered Baby Milks: Brand Price Positioning Analysis, 2013 Table 28: Liquid Baby Milks: Brand Price Positioning Analysis, 2013 Table 29: Baby Milks: Manufacturer Shares, Value %, 2009-2015 Table 30: Baby Milks: Manufacturer Market Shares, Volume %, 2008-2015 Table 31: Baby Milks: Principal Manufacturers' Brands by Segment, 2015 Table 32: Baby Cereals: Sector Trends, 2009-2015 Table 33: Baby Cereals: Per Capita Expenditure and Consumption, 2009-2015 Table 34: Baby Cereals: Market Segmentation, 2006 and 2012 Table 35: Baby Cereals: Manufacturer Market Shares, Value, 2009-2015 Table 36: Baby Cereals: Manufacturer Market Shares, Volume, 2010-2015 Table 37: Wet Meals: Sector Trends, 2009-2015 Table 38: Wet Meals: Per Capita Expenditure and Consumption, 2009-2015 Table 39: Wet Baby Meals: Sector Segmentation, 2008-2012 Table 40: Wet Baby Meals: Manufacturer Market Shares, Value, 2008-2015 Table 41: Wet Baby Meals: Manufacturer Market Shares, Volume, 2008-2015 Table 42: Baby Drinks: Sector Trends, 2009-2015 Table 43: Baby Drinks: Per Capita Expenditure and Consumption, 2009-2015 Table 44: Baby Drinks: Manufacturer Market Shares, Value, 2008-2015 Table 45: Baby Drinks: Manufacturer Market Shares, Volume, 2008-2015 Table 46: Finger Food: Sector Trends, 2009-2015 Table 47: Finger Food: Per Capita Expenditure and Consumption, 2009-2015 Table 48: Finger Foods: Manufacturer Market Shares, Value, 2008-2015 Table 49: Finger Foods: Manufacturer Market Shares, Volume, 2008-2015 Table 50: Packaged Food Sales by Channel, Euro Billion, 2009-2015 Table 51: Baby Food: Sales by Outlet Type, Value, 2006-2012 Table 52: Nestlé: Market Shares, 2015 Table 53: Danone: Market Shares, 2015 Table 54: Alter: Market Shares, 2015 Table 55: Imports of Baby Food by Type, Volume, 2009-2015 Table 56: Imports of Baby Food by Type, Value, 2009-2015 Table 57: Imports of Baby Food by Country of Origin, Volume, 2009-2015 Table 58: Imports of Baby Food by Country of Origin, Value, 2009-2015 Table 59: Exports of Baby Food by Type, Volume, 2009-2015 Table 60: Exports of Baby Food by Type, Value, 2009-2015 Table 61: Exports of Baby Food by Country of Destination, Volume, 2009-2015 Table 62: Exports of Baby Food by Country of Destination, Value, 2009-2015 Table 63: Birth and Population Trends, 2009-2021Table 64: The Baby Population, 2015-2021 Table 65: Baby Food: Market Value Forecasts, Current Prices, 2015-2021 Table 66: Baby Food: Market Value Forecasts, Constant Prices, 2015-2021 Table 67: Baby Food: Market Value Forecasts, US Dollars, 2015-2021 Table 68: Baby Food: Market Volume Forecasts, 2015-2021 Table 69: Baby Food: Per Capita Expenditure Forecasts, Current Prices, 2015-2021 Table 70: Baby Food: Per Capita Expenditure Forecasts, Constant Prices, 2015-2021 Table 71: Baby Food: Per Capita Expenditure Forecasts, US Dollars, 2015-2021 Table 72: Baby Food: Per Capita Consumption Forecasts, 2015-2021 Table 73: Key Macro-Economic Indicators, 2009-2016 Table 74: RPI Trends, 2009-2021 Figure 1: Baby Food: Market Size, 2009-2015 Figure 2: Baby Food: Market Segmentation, 2015 Figure 3: Manufacturer Share, 2015 Figure 4: Baby Food: Manufacturer Representation, Value, 2015 Figure 5: Baby Food: Manufacturer Representation, Volume, 2015

Nestlé Portugal Danone/MilupaComercial SA Alter SA LaboratóriosVitória SA Mead Johnson