Milk - Greece | Statista Market Forecast

Revenue in the Milk market amounts to US$785.50m in 2024. The market is expected to grow annually by 2.01% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$71bn in 2024).
In relation to total population figures, per person revenues of US$76.24 are generated in 2024.
In the Milk market, volume is expected to amount to 355.20m kg by 2029. The Milk market is expected to show a volume growth of 1.1% in 2025.0.
The average volume per person in the Milk market is expected to amount to 32.7kg in 2024.

Definition:

Milk is defined as a protein- and fat-rich opaque white or creamy-colored fluid. This combination of nutrients can also be milked from other animals such as sheep and goats, but from an economic perspective, cow's milk remains the world's most important dairy product.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

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Regular fresh milk
Full-fat milk, reduced-fat milk, low-fat milk, skimmed milk, semi-skimmed milk
Regular pasteurized milk, ultra-pasteurized (UHT) milk, raw milk
Flavored milk, barista milk
Lactose-free milk

Preserved and powdered milk
Yogurt drinks
Non-dairy milk substitutes
Out-of-home consumption

The Milk Market in Greece has seen minimal growth due to various factors such as shifting consumer preferences towards plant-based alternatives, price fluctuations in the dairy industry, and the emergence of local milk production. This has hindered the market's growth rate, making it a challenging environment for dairy companies in the country.

Customer preferences: Consumers in Greece are turning towards healthier alternatives in the Milk Market of the Dairy Products & Eggs Market within The Food market. This trend is driven by an increasing awareness of the health benefits of plant-based milk alternatives, such as almond, soy, and oat milk. The rise in veganism and dairy intolerance has also contributed to this shift. Additionally, there has been a growing demand for organic and locally sourced milk products, highlighting a preference for sustainable and ethical food choices.

Trends in the market: In Greece, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards healthier and more sustainable options, with a growing demand for organic and plant-based milk alternatives. Additionally, there is a rising trend towards locally-sourced and artisanal dairy products, as consumers prioritize supporting local producers and reducing their carbon footprint. These trends are expected to continue, driven by growing health and environmental awareness among consumers. Industry stakeholders should focus on diversifying their product offerings and marketing strategies to cater to these evolving consumer preferences and stay competitive in the market.

Local special circumstances: In Greece, the Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's rich history and cultural traditions surrounding dairy consumption. The consumption of dairy products, particularly yogurt and cheese, has been a part of Greek cuisine for centuries. This cultural preference for dairy has led to a high demand for locally sourced and artisanal dairy products. Additionally, Greece's geographical location, with its mild climate and fertile land, makes it an ideal environment for dairy farming. This contributes to the high quality and variety of dairy products available in the market. Moreover, regulatory factors, such as EU regulations on dairy production and labeling, play a significant role in shaping the market dynamics in Greece. These factors create a unique market for dairy products and eggs in Greece, setting it apart from other markets in the region.

Underlying macroeconomic factors: The Dairy Products & Eggs Market within The Food market in Greece is heavily influenced by macroeconomic factors such as economic stability, consumer purchasing power, and government policies. The country's recent economic crisis has significantly impacted the market, leading to a decline in consumer spending and a shift towards more affordable dairy and egg products. Additionally, the government's austerity measures and tax hikes have further affected market demand and profitability for producers. However, with the country's economy gradually recovering and increasing disposable incomes, there is potential for growth in the dairy and egg market in Greece. Moreover, the growing health consciousness among consumers and increasing demand for organic and locally sourced products are also expected to drive market growth.

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.