With the health and wellness trend being the main reason for the poor performance of carbonates, it comes as no surprise that all investment at the end of the review period was focused on reduced sugar products. Product variety has increased significantly, thus helping reduced sugar products to gain sales share and to slow down the rate of decline in carbonates consumption.
In addition to the impact of the healthy living trend and recent recession upon carbonates sales, the area was also affected by the bankruptcy of Carrefour in 2016. However, Carrefour’s outlets were acquired by Sklavenitis in 2017 and were operating as normal again by 2018.
The pick-up of spirits sales has helped increase on-trade consumption of carbonates, although consumption via restaurants and fast-food chains is declining, in line with conservative consumer spending in foodservice. On-trade sales of tonic water/other bitters and other carbonates, which are used as mixers, are anticipated to increase and balance some of the losses in foodservice sales within cola carbonates, where sales are set to decline further.
Coca-Cola HBC remains the sales leader in carbonates. The company has strongly invested in expanding its product portfolio in carbonates globally with new flavours and reduced sugar products, which were also introduced in Greece and will help boost sales.
Greek companies retain a strong position in carbonates. The most prominent local player is Green Cola which, although posting a decline in sales share following the launch of Coca-Cola Stevia, still ranks second within cola carbonates.
Vikos is gaining sales share also given its investment in expanding distribution. However, competition remains fierce, especially within the traditional grocery channel, where Coca-Cola brands hold the lion’s share of sales.
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Discover the latest market trends and uncover sources of future market growth for the Carbonates industry in Greece with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Soft Drinks market research database.