Milk Substitutes - Greece

Greece

Highlights

Revenue in the Milk Substitutes market amounts to US$40.84m in 2024. The market is expected to grow annually by 14.82% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$10bn in 2024).
In relation to total population figures, per person revenues of US$3.96 are generated in 2024.
In the Milk Substitutes market, volume is expected to amount to 29.97m kg by 2029. The Milk Substitutes market is expected to show a volume growth of 20.3% in 2025.0.
The average volume per person in the Milk Substitutes market is expected to amount to 1.6kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Milk Substitutes Market in Greece is witnessing considerable growth, attributed to factors such as increasing health consciousness and the convenience of online services. This growth rate is primarily driven by the rising demand for dairy-free alternatives and the introduction of new and innovative products in the market.

Customer preferences: As consumers become more health-conscious, there is a growing demand for plant-based milk substitutes in Greece. This trend is driven by factors such as the rise of veganism, lactose intolerance, and concerns about the environmental impact of dairy production. Additionally, there is a growing interest in locally-sourced and organic milk alternatives, reflecting a shift towards more sustainable and natural food choices. This has led to a proliferation of new dairy-free options in the market, catering to a diverse range of dietary preferences and lifestyles.

Trends in the market: In Greece, the Milk Substitutes Market within the Dairy Products & Eggs Market is experiencing a shift towards plant-based options, driven by increasing health and environmental concerns. This trend is expected to continue, with a growing demand for alternative milk products such as almond, soy, and coconut milk. This trend is also reflected in the rise of vegan and vegetarian diets in the country. For industry stakeholders, this presents an opportunity to diversify their product offerings and cater to the evolving consumer preferences. However, it also poses a challenge for traditional dairy producers to adapt to the changing market landscape and remain competitive. With ongoing innovation and investments in research and development, the Milk Substitutes Market in Greece is expected to witness significant growth in the coming years.

Local special circumstances: In Greece, the Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market is influenced by the country's strong tradition of dairy consumption, with a preference for local and artisanal products. However, in recent years, there has been a shift towards plant-based milk substitutes due to health and sustainability concerns. This trend is further driven by the government's efforts to promote a healthier diet and reduce the environmental impact of dairy production. Additionally, the country's Mediterranean climate and agricultural practices result in unique flavors and nutritional profiles of milk substitutes, catering to the local taste preferences.

Underlying macroeconomic factors: The Milk Substitutes Market of the Dairy Products & Eggs Market within The Food market in Greece is affected by various macroeconomic factors. Global economic trends, such as shifting consumer preferences towards plant-based diets and increasing health consciousness, are driving the demand for milk substitutes. The national economic health in Greece, with a recovering economy and growing middle class, is also contributing to the market growth. Additionally, favorable fiscal policies, such as subsidies for dairy alternatives, are further boosting the market. Other financial indicators, such as rising disposable incomes and increasing urbanization, are also influencing the growth of the market in Greece.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.