Greece: Dairy Spread Market 2024

Dairy Spread Market Size in Greece

The Greek dairy spread market shrank to $X in 2022, which is down by -14.4% against the previous year. In general, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -21.3% against 2019 indices. Dairy spread consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Dairy Spread Production in Greece

In value terms, dairy spread production declined slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded strong growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by 54%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Dairy Spread Exports

Exports from Greece

For the third consecutive year, Greece recorded growth in shipments abroad of dairy spreads, which increased by 47% to X tons in 2022. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 1,168%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, dairy spread exports surged to $X in 2022. In general, exports enjoyed significant growth. The growth pace was the most rapid in 2013 when exports increased by 1,386%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Bulgaria (X tons), Romania (X tons) and Italy (X tons) were the main destinations of dairy spread exports from Greece, together comprising 97% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of +73.2%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Bulgaria ($X) and Italy ($X) constituted the largest markets for dairy spread exported from Greece worldwide, with a combined 96% share of total exports.

In terms of the main countries of destination, Romania, with a CAGR of +81.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average dairy spread export price stood at $X per ton in 2022, shrinking by -16.1% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 42% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Bulgaria ($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 Italy (+5.6%), while the prices for the other major destinations experienced mixed trend patterns.

Dairy Spread Imports

Imports into Greece

In 2022, approx. X tons of dairy spreads were imported into Greece; waning by -19.7% compared with 2021. Over the period under review, imports saw a abrupt downturn. The pace of growth appeared the most rapid in 2017 with an increase of 227% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, dairy spread imports shrank to $X in 2022. Overall, imports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2017 with an increase of 211%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Romania (X tons) constituted the largest supplier of dairy spread to Greece, with a 66% share of total imports. Moreover, dairy spread imports from Romania exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. The third position in this ranking was held by Germany (X tons), with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Romania totaled +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+13.2% per year) and Germany (-21.3% per year).

In value terms, the largest dairy spread suppliers to Greece were Romania ($X), the Netherlands ($X) and Germany ($X), with a combined 90% share of total imports.

The Netherlands, with a CAGR of +17.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average dairy spread import price stood at $X per ton in 2022, picking up by 19% against the previous year. Over the period under review, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy spread import price increased by +141.4% against 2018 indices. The pace of growth appeared the most rapid in 2019 an increase of 41%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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