Industrial activity in the Algarve has consolidated itself in recent years as a rapidly expanding economic sector, registering a growth of 53.6% between 2020 and 2024, according to data from the consulting firm Neomarca.

According to Neomarca, "in 2024, these companies reached a total turnover of 442 million euros." Over the last five years, the average annual volume has remained close to 400 million euros, which, according to the consulting firm, "reveals consistent and sustained growth."

The growth of the industrial sector was reflected not only in increased turnover but also in profitability and employment. Companies registered a 225% growth in net profits and a 15% increase in the number of jobs, totalling approximately 5,200 direct jobs.

The industry in the Algarve is mainly composed of small and medium-sized enterprises with strong ties to the territory, technical specialisation, and a focus on innovation. The main sectors of activity include the food and beverage industries, the manufacture of metal products, and the wood and cork industries.

According to Neomarca's CEO, Paulo Pereira, “the industry in the Algarve has been consolidating itself as a sector with real weight in the regional economy. These data confirm what we have observed on the ground: more structured, more ambitious companies, better prepared to grow based on knowledge, innovation, and local value.”

The executive also emphasises that “the industrial business fabric has been able to reinvent itself and respond to challenges with resilience.”