Wine is the only alcoholic drinks category where total volume sales nearly recovered to pre-COVID-19 levels at the end of 2021. It was the category that was subject to a major channel shift during on-trade closure with consumers of wine shifting to drinking it at home during the lockdown, while it also attracted consumers from other alcoholic drinks categories who began to accompany their meals with wine as a treat to themselves during the lockdown.
The shift towards home consumption of wine was followed by consumers trading up to more premium wine in 2021. While sales of wine in PET bottles and bag-in-box formats did not witness major losses, there was strong growth in 750ml glass bottle sales, and brands with a retail price of EUR6.
The e-commerce off-trade volume share of wine posted a further increase in 2021 in line with more specialists launching e-shops. The share of convenience stores increased too driven by outlet growth.
Still white and still rosé wine will continue to outperform still red wine in Greece in the forecast period as the overall weather conditions are more favourable to wine served chilled. However, prices of wine will be subject to hikes in 2022 mainly driven by increased production and transportation costs as a result of spikes in energy and fuel prices, but also because of hikes in materials costs, such as glass bottles.
The adverse impact of COVID-19 upon the Greek economy and consumers’ disposable incomes is set to be an obstacle to wine’s value growth. While consumer awareness around wine has increased and has become a driver of premiumisation, consumers are set to become more price-sensitive over the forecast period as they see their disposable incomes squeezed.
Tourist flows play a key role in wine consumption not only domestically but also giving a boost to Greek wine sales abroad, creating lucrative opportunities for exports. Upon returning to their home countries and having familiarised themselves with Greek wines, more people that have travelled to Greece are likely to look for a Greek wine.
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This is the aggregation of still and sparkling light grape wines, fortified wine and vermouth and non-grape wine. In terms of alcohol content, light wine usually falls into the 8-14% ABV bracket while fortified wine ranges from 14-23% ABV. Low and non-alcoholic wine is also included in the data (attributed to each sector as appropriate).See All of Our Definitions
This report originates from Passport, our Wine research and analysis database.
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