Food - Greece

Greece

Revenue in the Food market amounts to US$26.51bn in 2024. The market is expected to grow annually by 3.73% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$6.04bn in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$2,573.00 are generated in 2024.
In the Food market, 0.7% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 6,437.00m kg by 2029. The Food market is expected to show a volume growth of 2.0% in 2025.
The average volume per person in the Food market is expected to amount to 572.40kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

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. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Food market in Greece has been experiencing slow growth, impacted by factors such as economic downturn, high unemployment rates, and changing consumer preferences towards healthier options. The sub-markets of dairy, meat, and seafood have been affected by declining consumption and rising costs. Additionally, the convenience food sector has seen a decline due to a shift towards home-cooked meals. However, there is potential for growth in the organic and specialty food segments, driven by increasing health consciousness among consumers.

Customer preferences: The Greek food market has seen a rise in demand for convenient and healthy options, reflecting a growing health consciousness among consumers. With a focus on quality ingredients and traditional cooking methods, there is also a trend towards supporting small, local businesses. Additionally, there has been an increase in the popularity of online grocery shopping and food delivery services, catering to busy lifestyles and offering a wider range of options for those with dietary restrictions. This shift towards convenience and health-conscious choices is also influenced by the growing number of health and wellness influencers and bloggers in Greece.

Trends in the market: In Greece, The Food market is experiencing a surge in demand for locally sourced and organic products, driven by consumers' growing awareness of food sustainability and health. This trend is expected to continue as consumers prioritize quality and ethical food choices. This shift towards sustainable and healthy food options presents opportunities for industry stakeholders to innovate and differentiate their products. Additionally, with the rise of e-commerce and online grocery shopping, there is potential for digital platforms to play a larger role in The Food market, providing convenience and accessibility to consumers.

Local special circumstances: In Greece, The Food market is heavily influenced by the country's rich history and strong culinary traditions. The Mediterranean climate and fertile land allow for the production of high-quality ingredients, resulting in a diverse range of local specialties. Additionally, Greece's cultural emphasis on communal dining and fresh, seasonal ingredients drives demand for local produce and traditional dishes. Regulatory factors, such as the protection of traditional food products and strict labeling requirements, also play a significant role in shaping the Greek Food Market. These unique factors contribute to a dynamic and thriving food market in Greece.

Underlying macroeconomic factors: The Food market in Greece is heavily influenced by macroeconomic factors such as the country's overall economic health and fiscal policies. Greece has faced numerous economic challenges in recent years, leading to a decline in consumer spending and a decrease in demand for food products. Additionally, the country's high unemployment rate and low disposable income have also impacted The Food market. However, with the improvement of the country's economic situation and government efforts to stimulate growth, there is potential for an increase in consumer purchasing power and a rebound in The Food market. Furthermore, the increasing trend of healthy and sustainable food choices is also influencing the market, as consumers become more conscious of their dietary habits and demand for organic and locally sourced products.

Methodology

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.