Packaged Food in Greece

December 2020
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Overview:

Understand the latest market trends and future growth opportunities for the Packaged Food industry in Greece with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.

If you're in the Packaged Food industry in Greece, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Packaged Food in Greece report includes:

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

This report answers:

  • What is the market size of Packaged Food in Greece?
  • Which are the leading brands in Packaged Food in Greece?
  • How are products distributed in Packaged Food in Greece?
  • How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
  • What are the key health and wellness concerns driving, or challenging, sales in Packaged Food?
  • How significant are vegan and vegetarian dietary requirements in determining sales growth in Greece?
  • How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
  • Where is future growth expected to be most dynamic?
  • How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?

Packaged Food in Greece

EXECUTIVE SUMMARY

COVID-19 impact on packaged food
COVID-19 country impact
Company response
Retailing shift
Foodservice vs retail split
What next for packaged food?

FOODSERVICE

Sales to Foodservice
Sales of packaged food to foodservice outlets negatively affected by COVID-19 Sales of dairy products to foodservice outlets negatively impacted by the pandemic in 2020 Stockpiling affects foodservice outlets negatively as consumers finish stockpiled goods first
Consumer Foodservice
Government supports foodservice outlets by decreasing VAT in 2020 Third party food apps and in-house delivery services assist foodservice outlets in their survival during COVID-19 Decline in tourism affects consumer foodservice negatively in 2020
Category Data
Chart 1 Packaged Food Value Sales Growth Scenarios: 2017-2024 Chart 2 Packaged Food Impact of Drivers on Value Sales: 2016-2024 Table 1 Foodservice Sales of Packaged Food by Category: Volume 2015-2020 Table 2 Foodservice Sales of Packaged Food by Category: % Volume Growth 2015-2020 Table 3 Forecast Foodservice Sales of Packaged Food by Category: Volume 2020-2025 Table 4 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2020-2025

MARKET DATA

Table 5 Sales of Packaged Food by Category: Volume 2015-2020 Table 6 Sales of Packaged Food by Category: Value 2015-2020 Table 7 Sales of Packaged Food by Category: % Volume Growth 2015-2020 Table 8 Sales of Packaged Food by Category: % Value Growth 2015-2020 Table 9 GBO Company Shares of Packaged Food: % Value 2016-2020 Table 10 NBO Company Shares of Packaged Food: % Value 2016-2020 Table 11 LBN Brand Shares of Packaged Food: % Value 2017-2020 Table 12 Penetration of Private Label by Category: % Value 2015-2020 Table 13 Distribution of Packaged Food by Format: % Value 2015-2020 Table 14 Distribution of Packaged Food by Format and Category: % Value 2020 Table 15 Forecast Sales of Packaged Food by Category: Volume 2020-2025 Table 16 Forecast Sales of Packaged Food by Category: Value 2020-2025 Table 17 Forecast Sales of Packaged Food by Category: % Volume Growth 2020-2025 Table 18 Forecast Sales of Packaged Food by Category: % Value Growth 2020-2025

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

DISCLAIMER

DEFINITIONS

SOURCES

Summary 1 Research Sources

Edible Oils in Greece

KEY DATA FINDINGS

2020 IMPACT

Edible oils’ demand increases as consumers prepare food at home and stockpiles olive oil in 2020
E-commerce increases while modern grocery retailers take a hit due to the pandemic and organic olive oil sales are stable in 2020
Private label leads and is likely to grow value share as consumers are more price conscious and Upfield Hellas is the leading branded player in 2020

RECOVERY AND OPPORTUNITIES

Health and wellness trend leads to decline over the forecast period
Flavoured olive oil is a growing segment within olive oil
Unpackaged, home-made olive oil and sunflower oil limit the growth potential of olive oil over the forecast period

CATEGORY DATA

Table 19 Sales of Edible Oils by Category: Volume 2015-2020 Table 20 Sales of Edible Oils by Category: Value 2015-2020 Table 21 Sales of Edible Oils by Category: % Volume Growth 2015-2020 Table 22 Sales of Edible Oils by Category: % Value Growth 2015-2020 Table 23 NBO Company Shares of Edible Oils: % Value 2016-2020 Table 24 LBN Brand Shares of Edible Oils: % Value 2017-2020 Table 25 Distribution of Edible Oils by Format: % Value 2015-2020 Table 26 Forecast Sales of Edible Oils by Category: Volume 2020-2025 Table 27 Forecast Sales of Edible Oils by Category: Value 2020-2025 Table 28 Forecast Sales of Edible Oils by Category: % Volume Growth 2020-2025 Table 29 Forecast Sales of Edible Oils by Category: % Value Growth 2020-2025

Ready Meals in Greece

KEY DATA FINDINGS

2020 IMPACT

Consumers change purchasing behaviour during lockdown as they stockpile frozen ready meals and frozen pizza in 2020
Social media and chef endorsement are important in ready meals
Local player Barba Stathis retains its lead as Greeks like to buy local

RECOVERY AND OPPORTUNITIES

Sales of ready meals likely to decrease over the forecast period
Health and wellness trend leads prepared salads to see the strongest growth over the forecast period
Companies try to meet changing consumer demands and preferences

CATEGORY DATA

Table 30 Sales of Ready Meals by Category: Volume 2015-2020 Table 31 Sales of Ready Meals by Category: Value 2015-2020 Table 32 Sales of Ready Meals by Category: % Volume Growth 2015-2020 Table 33 Sales of Ready Meals by Category: % Value Growth 2015-2020 Table 34 Sales of Chilled Ready Meals by Ethnicity: % Value 2015-2020 Table 35 Sales of Frozen Ready Meals by Ethnicity: % Value 2015-2020 Table 36 NBO Company Shares of Ready Meals: % Value 2016-2020 Table 37 LBN Brand Shares of Ready Meals: % Value 2017-2020 Table 38 Distribution of Ready Meals by Format: % Value 2015-2020 Table 39 Forecast Sales of Ready Meals by Category: Volume 2020-2025 Table 40 Forecast Sales of Ready Meals by Category: Value 2020-2025 Table 41 Forecast Sales of Ready Meals by Category: % Volume Growth 2020-2025 Table 42 Forecast Sales of Ready Meals by Category: % Value Growth 2020-2025

Sauces, Dressings and Condiments in Greece

KEY DATA FINDINGS

2020 IMPACT

Lockdown results in consumers stockpiling sauces, dressings and condiments as they increasingly cook at home in 2020
Consumers returning to traditional dishes in 2020
Elais Unilever Hellas has long-standing trusted brands, which maintains its lead in 2020

RECOVERY AND OPPORTUNITIES

More consumers preparing meals at home, boosting sales of table sauces over the forecast period
Large pack sizes expected to become popular over the forecast period
Health and wellness products on the rise due to wider availability

CATEGORY DATA

Table 43 Sales of Sauces, Dressings and Condiments by Category: Volume 2015-2020 Table 44 Sales of Sauces, Dressings and Condiments by Category: Value 2015-2020 Table 45 Sales of Sauces, Dressings and Condiments by Category: % Volume Growth 2015-2020 Table 46 Sales of Sauces, Dressings and Condiments by Category: % Value Growth 2015-2020 Table 47 Sales of Cooking Sauces by Type: % Value 2015-2020 Table 48 NBO Company Shares of Sauces, Dressings and Condiments: % Value 2016-2020 Table 49 LBN Brand Shares of Sauces, Dressings and Condiments: % Value 2017-2020 Table 50 Distribution of Sauces, Dressings and Condiments by Format: % Value 2015-2020 Table 51 Forecast Sales of Sauces, Dressings and Condiments by Category: Volume 2020-2025 Table 52 Forecast Sales of Sauces, Dressings and Condiments by Category: Value 2020-2025 Table 53 Forecast Sales of Sauces, Dressings and Condiments by Category: % Volume Growth 2020-2025 Table 54 Forecast Sales of Sauces, Dressings and Condiments by Category: % Value Growth 2020-2025

Sweet Spreads in Greece

KEY DATA FINDINGS

2020 IMPACT

Nut and seed based spreads’ sales boosted by changing lifestyles, while sales hampered by small producers selling their own honey in 2020
E-commerce sales grow due to the pandemic in 2020
Private label expands its share due to wide product ranges and price bands and Mondelez Hellas dominates chocolate spreads with long-standing Merenda brand in 2020

RECOVERY AND OPPORTUNITIES

Growth expected to recover from 2022, although performances vary due to the health trend
Health and wellness trend likely to become a fixture over the forecast period
Organic products gain traction as consumer wellness becomes paramount

CATEGORY DATA

Table 55 Sales of Sweet Spreads by Category: Volume 2015-2020 Table 56 Sales of Sweet Spreads by Category: Value 2015-2020 Table 57 Sales of Sweet Spreads by Category: % Volume Growth 2015-2020 Table 58 Sales of Sweet Spreads by Category: % Value Growth 2015-2020 Table 59 Sales of Jams and Preserves by Leading Flavours: Rankings 2015-2020 Table 60 NBO Company Shares of Sweet Spreads: % Value 2016-2020 Table 61 LBN Brand Shares of Sweet Spreads: % Value 2017-2020 Table 62 Distribution of Sweet Spreads by Format: % Value 2015-2020 Table 63 Forecast Sales of Sweet Spreads by Category: Volume 2020-2025 Table 64 Forecast Sales of Sweet Spreads by Category: Value 2020-2025 Table 65 Forecast Sales of Sweet Spreads by Category: % Volume Growth 2020-2025 Table 66 Forecast Sales of Sweet Spreads by Category: % Value Growth 2020-2025

Soup in Greece

KEY DATA FINDINGS

2020 IMPACT

Consumers stockpile soups ahead of lockdown in 2020
Elais Unilever leads thanks to the variety of flavours and wide availability in 2020
Some new players but unlikely to stimulate demand much

RECOVERY AND OPPORTUNITIES

Sales of packaged soup severely limited by home-made soup over the forecast period
Consumers’ negative perception of packaged soup prevents growth and likely to discourage investment and innovation in the forecast period
VAT reduction expected to have a minimal effect

CATEGORY DATA

Table 67 Sales of Soup by Category: Volume 2015-2020 Table 68 Sales of Soup by Category: Value 2015-2020 Table 69 Sales of Soup by Category: % Volume Growth 2015-2020 Table 70 Sales of Soup by Category: % Value Growth 2015-2020 Table 71 Sales of Soup by Leading Flavours: Rankings 2015-2020 Table 72 NBO Company Shares of Soup: % Value 2016-2020 Table 73 LBN Brand Shares of Soup: % Value 2017-2020 Table 74 Distribution of Soup by Format: % Value 2015-2020 Table 75 Forecast Sales of Soup by Category: Volume 2020-2025 Table 76 Forecast Sales of Soup by Category: Value 2020-2025 Table 77 Forecast Sales of Soup by Category: % Volume Growth 2020-2025 Table 78 Forecast Sales of Soup by Category: % Value Growth 2020-2025

Baked Goods in Greece

KEY DATA FINDINGS

2020 IMPACT

Demand for baked goods decreases as consumers bake at home in 2020
More baked goods aimed at vegans and the general health trend in 2020
Artisanal products dominate due to an increasingly premium positioning in 2020

RECOVERY AND OPPORTUNITIES

Maturity hampers growth, but increases still seen in some categories over the forecast period
Health trend both likely to encourage and hinder growth over the forecast period
Warm fresh bread available throughout the day to attract consumers

CATEGORY DATA

Table 79 Sales of Baked Goods by Category: Volume 2015-2020 Table 80 Sales of Baked Goods by Category: Value 2015-2020 Table 81 Sales of Baked Goods by Category: % Volume Growth 2015-2020 Table 82 Sales of Baked Goods by Category: % Value Growth 2015-2020 Table 83 Sales of Pastries by Type: % Value 2015-2020 Table 84 NBO Company Shares of Baked Goods: % Value 2016-2020 Table 85 LBN Brand Shares of Baked Goods: % Value 2017-2020 Table 86 Distribution of Baked Goods by Format: % Value 2015-2020 Table 87 Forecast Sales of Baked Goods by Category: Volume 2020-2025 Table 88 Forecast Sales of Baked Goods by Category: Value 2020-2025 Table 89 Forecast Sales of Baked Goods by Category: % Volume Growth 2020-2025 Table 90 Forecast Sales of Baked Goods by Category: % Value Growth 2020-2025

Breakfast Cereals in Greece

KEY DATA FINDINGS

2020 IMPACT

Private label sales of breakfast cereals increase as the pandemic negatively affects consumers’ household incomes, but hot cereals sales are boosted in 2020
Nestlé Hellas maintains its lead despite a continuously declining share
Chocolate flavoured cereal or oats? These cereals although contrary in nature remain popular in Greece in 2020

RECOVERY AND OPPORTUNITIES

Sales likely to be boosted by the perception of breakfast cereals as a healthier option over the forecast period
Breakfast cereals a dynamic category with large scope for growth over the forecast period thanks to the health trend
Home baking – threat or growth driver?

CATEGORY DATA

Table 91 Sales of Breakfast Cereals by Category: Volume 2015-2020 Table 92 Sales of Breakfast Cereals by Category: Value 2015-2020 Table 93 Sales of Breakfast Cereals by Category: % Volume Growth 2015-2020 Table 94 Sales of Breakfast Cereals by Category: % Value Growth 2015-2020 Table 95 NBO Company Shares of Breakfast Cereals: % Value 2016-2020 Table 96 LBN Brand Shares of Breakfast Cereals: % Value 2017-2020 Table 97 Distribution of Breakfast Cereals by Format: % Value 2015-2020 Table 98 Forecast Sales of Breakfast Cereals by Category: Volume 2020-2025 Table 99 Forecast Sales of Breakfast Cereals by Category: Value 2020-2025 Table 100 Forecast Sales of Breakfast Cereals by Category: % Volume Growth 2020-2025 Table 101 Forecast Sales of Breakfast Cereals by Category: % Value Growth 2020-2025

Processed Meat and Seafood in Greece

KEY DATA FINDINGS

2020 IMPACT

Sales of frozen processed meat boosted by the pandemic as more consumers are price sensitive in 2020
Corporate social activities increase while supermarket sales of processed meat and seafood decline in 2020
North Aegean Sea Canneries SA takes the lead, while new entrants perform well, and acquisition expected to boost the Greek identity in fish and seafood in 2020

RECOVERY AND OPPORTUNITIES

Low prices and long shelf life to boost sales of frozen processed meat over the forecast period
Gluten-free is the latest trend, with the majority of companies following suit
Negligible demand for meat substitutes, but slow growth expected

CATEGORY DATA

Table 102 Sales of Processed Meat and Seafood by Category: Volume 2015-2020 Table 103 Sales of Processed Meat and Seafood by Category: Value 2015-2020 Table 104 Sales of Processed Meat and Seafood by Category: % Volume Growth 2015-2020 Table 105 Sales of Processed Meat and Seafood by Category: % Value Growth 2015-2020 Table 106 Sales of Shelf Stable Processed Red Meat by Type: % Volume Breakdown 2015-2020 Table 107 Sales of Chilled Processed Red Meat by Type: % Volume Breakdown 2015-2020 Table 108 Sales of Frozen Processed Red Meat by Type: % Volume Breakdown 2015-2020 Table 109 Sales of Frozen Processed Poultry by Type: % Value Breakdown 2015-2020 Table 110 Sales of Frozen Processed Seafood by Type: % Value Breakdown 2015-2020 Table 111 NBO Company Shares of Processed Meat and Seafood: % Value 2016-2020 Table 112 LBN Brand Shares of Processed Meat and Seafood: % Value 2017-2020 Table 113 Distribution of Processed Meat and Seafood by Format: % Value 2015-2020 Table 114 Forecast Sales of Processed Meat and Seafood by Category: Volume 2020-2025 Table 115 Forecast Sales of Processed Meat and Seafood by Category: Value 2020-2025 Table 116 Forecast Sales of Processed Meat and Seafood by Category: % Volume Growth 2020-2025 Table 117 Forecast Sales of Processed Meat and Seafood by Category: % Value Growth 2020-2025

Processed Fruit and Vegetables in Greece

KEY DATA FINDINGS

2020 IMPACT

Lockdown results in consumers stockpiling processed fruit and vegetables as they increasingly cook at home in 2020
Downward trend of shelf stable fruit temporarily suspended in 2020
New product developments from Barba Stathis continue to boost its lead, while Bonduelle continues to see growth in shelf stable vegetables in 2020

RECOVERY AND OPPORTUNITIES

Sales of processed fruit and vegetables likely to be sluggish over the forecast period, despite frozen processed vegetables offering convenience and a reasonable price
Healthy eating trend will positively affect some categories
Fresh processed vegetables is an emerging area

CATEGORY DATA

Table 118 Sales of Processed Fruit and Vegetables by Category: Volume 2015-2020 Table 119 Sales of Processed Fruit and Vegetables by Category: Value 2015-2020 Table 120 Sales of Processed Fruit and Vegetables by Category: % Volume Growth 2015-2020 Table 121 Sales of Processed Fruit and Vegetables by Category: % Value Growth 2015-2020 Table 122 Sales of Frozen Processed Vegetables by Type: % Value Breakdown 2015-2020 Table 123 NBO Company Shares of Processed Fruit and Vegetables: % Value 2016-2020 Table 124 LBN Brand Shares of Processed Fruit and Vegetables: % Value 2017-2020 Table 125 Distribution of Processed Fruit and Vegetables by Format: % Value 2015-2020 Table 126 Forecast Sales of Processed Fruit and Vegetables by Category: Volume 2020-2025 Table 127 Forecast Sales of Processed Fruit and Vegetables by Category: Value 2020-2025 Table 128 Forecast Sales of Processed Fruit and Vegetables by Category: % Volume Growth 2020-2025 Table 129 Forecast Sales of Processed Fruit and Vegetables by Category: % Value Growth 2020-2025

Rice, Pasta and Noodles in Greece

KEY DATA FINDINGS

2020 IMPACT

Consumers stockpile rice, pasta and noodles ahead of lockdown in 2020 and consumers avoid crowded places rather buying from independent small grocers
Companies providing products to foodservice need to change to remain solvent in 2020
Barilla Hellas maintains its lead in pasta, while Agrino is set to expand production in rice and Nestlé Hellas takes the lead from Flavour Factory in noodles in 2020

RECOVERY AND OPPORTUNITIES

Rice likely to see decreased demand due to the health trend, while noodles continues to see strong growth due to low penetration over the forecast period
Pasta remains a popular staple, boosted by products with new ingredients over the forecast period
Manufactures expected to innovate pasta and rice products due to the health and wellness trend over the forecast period

CATEGORY DATA

Table 130 Sales of Rice, Pasta and Noodles by Category: Volume 2015-2020 Table 131 Sales of Rice, Pasta and Noodles by Category: Value 2015-2020 Table 132 Sales of Rice, Pasta and Noodles by Category: % Volume Growth 2015-2020 Table 133 Sales of Rice, Pasta and Noodles by Category: % Value Growth 2015-2020 Table 134 Sales of Instant Noodles by Leading Flavours: Rankings 2015-2020 Table 135 NBO Company Shares of Rice, Pasta and Noodles: % Value 2016-2020 Table 136 LBN Brand Shares of Rice, Pasta and Noodles: % Value 2017-2020 Table 137 NBO Company Shares of Rice: % Value 2016-2020 Table 138 LBN Brand Shares of Rice: % Value 2017-2020 Table 139 NBO Company Shares of Pasta: % Value 2016-2020 Table 140 LBN Brand Shares of Pasta: % Value 2017-2020 Table 141 NBO Company Shares of Noodles: % Value 2016-2020 Table 142 LBN Brand Shares of Noodles: % Value 2017-2020 Table 143 Distribution of Rice, Pasta and Noodles by Format: % Value 2015-2020 Table 144 Distribution of Rice by Format: % Value 2015-2020 Table 145 Distribution of Pasta by Format: % Value 2015-2020 Table 146 Distribution of Noodles by Format: % Value 2015-2020 Table 147 Forecast Sales of Rice, Pasta and Noodles by Category: Volume 2020-2025 Table 148 Forecast Sales of Rice, Pasta and Noodles by Category: Value 2020-2025 Table 149 Forecast Sales of Rice, Pasta and Noodles by Category: % Volume Growth 2020-2025 Table 150 Forecast Sales of Rice, Pasta and Noodles by Category: % Value Growth 2020-2025

Packaged Food

In packaged food we consider two aspects of food sales: 1) Retail sales. 2) Foodservice. Retail sales is defined as sales through establishments primarily engaged in the sale of fresh, packaged and prepared foods for home preparation and consumption. This excludes hotels, restaurant, cafés, duty free sales and institutional sales (canteens, prisons/jails, hospitals, army, etc). Our retail definition EXCLUDES the purchase of food products from foodservice outlets for consumption off-premises, eg impulse confectionery bought from counters of cafés/bars. This falls under foodservice sales. For foodservice, we capture all sales to foodservice outlets, regardless of whether the products are eventually consumed on-premise or off-premise. Foodservice sales is defined as sales to consumer foodservice outlets that serve the general public in a non-captive environment. Outlets include cafés/bars, FSR (full-service restaurants), fast food, 100% home delivery/takeaway, self-service cafeterias and street stalls/kiosks. Sales to semicaptive foodservice outlets are also included. This describes outlets located in leisure, travel and retail environments. 1) Retail refers to units located in retail outlets such as department stores, shopping malls, shopping centres, super/hypermarkets etc. 2) Leisure refers to units located in leisure establishments such as museums, health clubs, cinemas, theatres, theme parks and sports stadiums. 3) Travel refers to units located in based in airports, rail stations, coach stations, motorway service stations offering gas facilities etc. Beyond the scope of the foodservice research are captive foodservice units that serve captive populations around institutions such as hospitals, schools, and prisons. This is also known as institutional sales.

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This report originates from Passport, our Packaged Food research and analysis database.

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