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Learn moreDec 2020
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As the COVID-19 pandemic spread across the world, the Greek government implemented measures to contain the spread of the coronavirus in March 2020. With the announcement of the lockdown, consumers rushed to stockpile essential packaged food items such as powdered and evaporated milk, frozen processed and shelf stable vegetables, rice, pasta and cooking ingredients, resulting in spikes in demand for these packaged food items for a certain period of time.
On 19 March, a rule was introduced that no more than 10 people were allowed to be in close proximity to each other and a ban was implemented on all unnecessary movement of citizens around the country. Greece had already closed its borders to non-EU nationals and suspended all flights from Italy, Spain, Turkey and the UK a day earlier.
Large companies with channel ubiquity and diverse portfolios are expected to fare better than others. For example, the leading companies such as Elais Unilever Hellas SA and Mondelez Hellas SA have extensive portfolios, ranging from snacks and confectionery to essential food items like cooking ingredients, dairy products, snacks, and staple foods.
Modern grocery retailers such as supermarkets and discounters will continue to lead retail volume sales of packaged food in Greece, but a significant portion of products will also be sold in smaller retail outlets, such as mini-markets and bakeries. This shift away from larger modern grocery retailers to independent small grocers may be exacerbated by the impact of COVID-19, with consumers not wanting to visit busy supermarkets for fear of infection and instead choosing to shop in smaller, local stores.
During both the lockdowns, foodservice outlets were ordered to temporarily close their dine-in options, with only takeaway and home delivery allowed. As such, this caused a huge drop in volume sales via foodservice outlets.
In 2021, growth in constant retail value sales of packaged food is likely to drop as consumers first finish their food at home. Furthermore, as businesses are likely to fully reopen and people will return to work, they will eat out more often; hence, the need for packaged food for home consumption will fall.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Packaged food industry in Greece with research from Euromonitor's team of in-country analysts.
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If you're in the Packaged food industry in Greece, our research will save you time and money while empowering you to make informed, profitable decisions.
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The Packaged food in Greece market research report includes:
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This industry report originates from Passport, our Packaged Food market research database.
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.