Executive Summary

Sep 2019
PROSPECTS
Butter continues to see the best performance, with healthier variants boosting sales

After several years of decline, butter and spreads saw a negligible retail volume increase in 2019. Butter continued to see by far the best performance, with butter containing less fat and no salt becoming increasingly popular, as consumers are looking for ways to improve their health.

Home baking contributes to a better performance in 2019

Home baking was a flourishing trend in Greece in the review period, which helped to slow the volume decline from the middle of the review period, and contributed to growth in 2019. Manufacturers recognised this trend, and therefore invested in advertising various recipes, or sponsored television cookery programmes.

Launches of spreads to meet consumer demand

More and more products are being added to the margarine and spreads category. These are mainly spreads made from a mixture of butter and margarine, such Minerva’s launch of Fast Light with Butter, although there are also more radical innovations.

COMPETITIVE LANDSCAPE
Elais Unilever Hellas continues to lead, but loses share to smaller players

Elais Unilever Hellas remained the clear leader in butter and spreads in value terms in 2019, with Vitam remaining the company’s best-selling brand. However, the company saw a value share decline in 2019, with Vitam in particular seeing a falling share after a temporary boost in 2018, when the company invested in the brand’s portfolio.

Fine by the Greek Competition Commission hampers growth for Minerva

The domestic company Minerva ranked second in butter and spreads in value terms in 2019, with Fast and Horio being its best-selling brands. However, the company saw a strong decline in its sales in this year.

Innovative products and sales channels aim to challenge the leaders

Smaller players are challenging the leaders with innovative products. For instance, the Chorio brand launched a new type of spread made with Corfu butter, Kerkyra.

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Butter and Spreads in Greece

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Overview

Discover the latest market trends and uncover sources of future market growth for the Butter and Margarine industry in Greece with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Butter and Margarine industry in Greece, our research will save you time and money while empowering you to make informed, profitable decisions.

The Butter and Margarine in Greece market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Butter and Margarine in Greece?
  • What are the major brands in Greece?
  • Are consumers in emerging markets moving from unpackaged to packaged oils and fats?
  • What are the sales prospects for “healthy” cooking oils?
  • Will retail sales suffer as economic prospects improve and consumers move back to eating out rather than cooking at home?
Why buy this report?
  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our:

Packaged Food market research database.

Butter and Spreads in Greece - Category analysis

HEADLINES

PROSPECTS

Butter continues to see the best performance, with healthier variants boosting sales
Home baking contributes to a better performance in 2019
Launches of spreads to meet consumer demand

COMPETITIVE LANDSCAPE

Elais Unilever Hellas continues to lead, but loses share to smaller players
Fine by the Greek Competition Commission hampers growth for Minerva
Innovative products and sales channels aim to challenge the leaders

CATEGORY DATA

Table 1 Sales of Butter and Spreads by Category: Volume 2014-2019
Table 2 Sales of Butter and Spreads by Category: Value 2014-2019
Table 3 Sales of Butter and Spreads by Category: % Volume Growth 2014-2019
Table 4 Sales of Butter and Spreads by Category: % Value Growth 2014-2019
Table 5 NBO Company Shares of Butter and Spreads: % Value 2015-2019
Table 6 LBN Brand Shares of Butter and Spreads: % Value 2016-2019
Table 7 Distribution of Butter and Spreads by Format: % Value 2014-2019
Table 8 Forecast Sales of Butter and Spreads by Category: Volume 2019-2024
Table 9 Forecast Sales of Butter and Spreads by Category: Value 2019-2024
Table 10 Forecast Sales of Butter and Spreads by Category: % Volume Growth 2019-2024
Table 11 Forecast Sales of Butter and Spreads by Category: % Value Growth 2019-2024

Packaged Food in Greece - Industry Overview

EXECUTIVE SUMMARY

Slow growth due to improving economy and rising consumer confidence
Health and local sourcing are increasingly important in packaged food
Growth of smaller brands leads to greater fragmentation in packaged food
Recovery for hypermarkets, but supermarkets remains the dominant channel
Low but increasing consumer confidence set to boost sales

FOODSERVICE

Sales to Foodservice
Foodservice packaged food sales benefit from the influx of foreign tourists
Health and wellness also affects the foodservice channel and the ingredients used
The competitive landscape in foodservice packaged food is very fragmented
Consumer Foodservice
Tourism expected to contribute to growth, but more Greeks may eat at home
Exotic cuisines are on the rise, especially in fast food
Premiumisation amongst operators offering local Greek cuisine
Category Data
Table 12 Foodservice Sales of Packaged Food by Category: Volume 2014-2019
Table 13 Foodservice Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 14 Forecast Foodservice Sales of Packaged Food by Category: Volume 2019-2024
Table 15 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2019-2024

MARKET DATA

Table 16 Sales of Packaged Food by Category: Volume 2014-2019
Table 17 Sales of Packaged Food by Category: Value 2014-2019
Table 18 Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 19 Sales of Packaged Food by Category: % Value Growth 2014-2019
Table 20 GBO Company Shares of Packaged Food: % Value 2015-2019
Table 21 NBO Company Shares of Packaged Food: % Value 2015-2019
Table 22 LBN Brand Shares of Packaged Food: % Value 2016-2019
Table 23 Penetration of Private Label by Category: % Value 2014-2019
Table 24 Distribution of Packaged Food by Format: % Value 2014-2019
Table 25 Distribution of Packaged Food by Format and Category: % Value 2019
Table 26 Forecast Sales of Packaged Food by Category: Volume 2019-2024
Table 27 Forecast Sales of Packaged Food by Category: Value 2019-2024
Table 28 Forecast Sales of Packaged Food by Category: % Volume Growth 2019-2024
Table 29 Forecast Sales of Packaged Food by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources