Food - Southern Europe

Southern Europe

Highlights

Revenue in the Food market amounts to US$558.20bn in 2024. The market is expected to grow annually by 6.57% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$99.66bn in 2024.
In global comparison, most revenue is generated China (US$2tn in 2024).
In relation to total population figures, per person revenues of US$2.36k are generated in 2024.
In the Food market, 2.9% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 155.40bn kg by 2029. The Food market is expected to show a volume growth of 3.3% in 2025.0.
The average volume per person in the Food market is expected to amount to 577.60kg in 2024.

Key regions:

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 definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Food market in Southern Europe is experiencing minimal growth, influenced by factors such as changing consumer dietary preferences, increasing demand for convenience food, and the availability of substitute products. Despite the presence of a diverse range of sub-markets such as Dairy Products & Eggs and Meat, Fish & Seafood, the overall market growth is impacted by economic uncertainties and shifting consumer trends. This poses a challenge for businesses looking to capitalize on the potential of this market.

Customer preferences: As Southern European countries continue to experience economic recovery, consumer preferences in The Food market are shifting towards more sustainable and ethical food options. This trend is driven by a growing awareness of the environmental impact of food production and consumption, as well as the desire for healthier and more ethical food choices. Additionally, there is a growing demand for locally sourced and organic products, reflecting the cultural value placed on traditional farming methods and regional cuisine. As a result, food companies are adapting their offerings to cater to these evolving consumer preferences.

Trends in the market: In Southern Europe, The Food market industry is experiencing a surge in demand for organic and locally sourced food products. This trend is driven by a growing awareness of the health and environmental benefits of sustainable food production. With consumers becoming more mindful of what they eat, there is a growing market for specialty and artisanal food products. This trend is expected to continue in the coming years, with industry stakeholders investing in sustainable practices and expanding their product offerings to cater to this growing segment.

Local special circumstances: In Southern Europe, The Food market is influenced by a combination of factors, including the region's rich culinary traditions, the Mediterranean climate that supports diverse agriculture, and the strong cultural emphasis on fresh and local ingredients. Additionally, strict regulations on food production and labeling ensure high quality standards. These factors contribute to a unique food culture and market dynamics, with a strong focus on traditional and artisanal products. Moreover, the region's tourism industry drives demand for authentic food experiences, creating opportunities for small businesses and local producers.

Underlying macroeconomic factors: The Food market market in Southern Europe is heavily influenced by macroeconomic factors such as consumer purchasing power, disposable income, and consumer confidence. Economic stability and growth in the region have a direct impact on consumer spending habits, which in turn affect the demand for food products. In countries with a strong economy and high consumer confidence, there is a higher demand for premium and specialty food products, while in countries with economic challenges, consumers tend to favor more affordable options. Additionally, changing consumer preferences, such as a shift towards healthier and more sustainable food choices, also play a significant role in shaping The Food market market in Southern Europe.

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.