Greece: Bacon And Ham Market 2024

Bacon And Ham Market Size in Greece

In 2022, the Greek bacon and ham market increased by 15% to $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, recorded a slight decline. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Bacon And Ham Production in Greece

In value terms, bacon and ham production expanded significantly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 24%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Bacon And Ham Exports

Exports from Greece

In 2022, overseas shipments of bacon, ham and other dried, salted or smoked pig meat decreased by -86.7% to X tons, falling for the second year in a row after two years of growth. Overall, exports saw a deep contraction. The pace of growth was the most pronounced in 2020 when exports increased by 161%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, bacon and ham exports plummeted to $X in 2022. In general, exports saw a deep setback. The growth pace was the most rapid in 2020 with an increase of 120%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Cyprus (X tons), Bulgaria (X tons) and Spain (X tons) were the main destinations of bacon and ham exports from Greece, with a combined 85% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +21.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X) emerged as the key foreign market for bacon, ham and other dried, salted or smoked pig meat exports from Greece, comprising 63% of total exports. The second position in the ranking was taken by Spain ($X), with a 12% share of total exports. It was followed by Bulgaria, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Cyprus amounted to -9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+18.7% per year) and Bulgaria (-7.0% per year).

Export Prices by Country

The average bacon and ham export price stood at $X per ton in 2022, rising by 76% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Albania (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Bacon And Ham Imports

Imports into Greece

In 2022, approx. X tons of bacon, ham and other dried, salted or smoked pig meat were imported into Greece; picking up by 8.3% on the year before. In general, imports, however, continue to indicate a deep setback. The growth pace was the most rapid in 2016 with an increase of 33%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, bacon and ham imports rose modestly to $X in 2022. Overall, imports, however, continue to indicate a perceptible reduction. The growth pace was the most rapid in 2021 with an increase of 25%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Italy (X tons), Germany (X tons) and Denmark (X tons) were the main suppliers of bacon and ham imports to Greece, together accounting for 69% of total imports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +131.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Italy ($X) constituted the largest supplier of bacon, ham and other dried, salted or smoked pig meat to Greece, comprising 58% of total imports. The second position in the ranking was taken by Germany ($X), with an 18% share of total imports. It was followed by Spain, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value from Italy amounted to +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.0% per year) and Spain (-7.5% per year).

Import Prices by Country

The average bacon and ham import price stood at $X per ton in 2022, with a decrease of -4.3% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bacon and ham import price increased by +37.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 23% against the previous year. The import price peaked at $X per ton in 2021, and then shrank slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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