Growth in baked goods is being hindered by the high level of maturity, given the already very high penetration of bread, cakes and pastries in the country. Although current value growth continued in 2019, volume sales saw a slight decline, highlighting rising prices.
The rising healthy eating trend is one factor posing an obstacle to growth in baked goods in Greece. Not only is this trend resulting in falling consumption of cakes, it is also responsible for the volume decline in bread.
Consumers increased their purchases of baked goods from supermarkets in recent years. This had two major effects.
Artisanal products accounted for the majority of value share within baked goods in 2019. The share of such products is set to remain very high, as bakeries increasingly use a premium positioning in terms of ambience and product mix, helping to add value.
Elbisco was another company which presented healthy options within packaged bread: one with no sugar and the other with olive oil, wheat germ and no sugar. In 2018, a new rusk production plant was also obtained by Elbisco Group.
Due to the health and wellness trend, Miloi Agiou Georgiou enhanced its Easy Bake brand with two new gluten-free products: Gluten-Free Baking Mix and Gluten-Free Pastry Mix. At the same time it also launched Leavened Bread mixes.
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This industry report originates from Passport, our Packaged Food market research database.