The COVID-19 pandemic is likely to positively impact sauces, dressings and condiments in retail value terms as consumers buy more of these products as complementary products to other essential foodstuffs in 2020. The pandemic’s resultant lockdown and economic fallout are changing consumers’ habits, with consumers becoming more price sensitive and increasingly cooking meals at home.
While the popularity of TV cooking shows boosted consumers’ familiarity with exotic cuisines over the review period, especially Asian dishes that consumers tried to produce at home, this trend is currently on hold. Consumers are returning to cooking well-loved traditional dishes that they know well and can be executed perfectly time and again.
Elais Unilever Hellas SA continues to lead sauces, dressings and condiments in retail value terms in 2020, thanks to the combined share of its Pummaró, Hellmann’s, Knorr, and Elais brands. Pummaró remains the leading brand in overall sauces, dressings and condiments in 2020, whilst Hellmann’s leads mayonnaise.
As cash-strapped Greeks have been moving away from foodservice towards preparing their own meals at home in an attempt to reduce their spending and as a result of the COVID-19 pandemic, sales in certain categories within sauces, dressings and condiments is likely to receive a boost in 2020, and this trend is set to continue over the forecast period. Sales of soy sauce, ketchup, and mayonnaise are likely to rise in the forecast period at constant 2020 prices and are set to see amongst the strongest performances over the short to medium term.
Companies use a number of innovative ways to increase sales of their products, of which various pack sizes of a product is one method. Although large pack sizes are generally not popular in Greece, industry experts are expecting companies to invest in larger pack sizes as a result of Greek consumers’ growing price consciousness and because sauces, dressings and condiments can generally be stored for a longer period of time.
Sauces, dressings and condiments with a health and wellness positioning witnessed rising sales at the end of the review period and are set to continue to see positive performances over the forecast period. Such products will benefit from their current low penetration, as well as the healthy eating trend.
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Understand the latest market trends and future growth opportunities for the Sauces, Dressings and Condiments industry in Greece with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Sauces, Dressings and Condiments research and analysis database.
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