Demand for soft drinks increased in 2017 and 2018 after several years of decline. This partly reflects recovery from the recent recession, with sales having already significantly declined and now starting to pick-up again, albeit at a slow pace as Greek consumers have adjusted to the new economic reality.
There was a trend towards fine drinking in Greece at the end of the review period, driving demand for added value or premium brands and products targeted at health-conscious consumers. In response, manufacturers are investing in products that offer added value, either in terms of packaging, nutritional value or simply branding and aesthetics.
Soft drinks sales in Greece continue to be led by Coca-Cola. The company has a strong presence across a wide range of different areas and is particularly strong in carbonates and bottled water.
The key trends driving development in soft drinks are health and wellness and flavour innovation. Since the shift to healthier lifestyles was key to the decline in soft drinks sales during the review period, the main strategy used by companies to boost sales is leveraging of the shift to reduced or sugar free products and ingredients such as green tea, superfruits and aloe vera, which have received strong publicity for their health benefits.
After a significant decline in volume sales as a result of the ongoing recession and tax hikes, soft drinks sales started to recover in 2018, with volume sales expected to continue rising over the forecast period. However, consumption is being affected by the rising health and wellness trend, with the increase in volume sales thus expected to be low.
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This industry report originates from Passport, our Soft Drinks market research database.