Greece: Fructose Market 2025

Fructose Market Size in Greece

The Greek fructose market expanded markedly to $X in 2021, with an increase of 5.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +97.5% against 2014 indices. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the immediate term.

Fructose Exports

Exports from Greece

In 2021, approx. X tons of fructose and fructose syrup were exported from Greece; with a decrease of -19.6% against the previous year. In general, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 161% against the previous year. The exports peaked at X tons in 2020, and then contracted dramatically in the following year.

In value terms, fructose exports rose significantly to $X in 2021. Over the period under review, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by 123% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The Czech Republic (X tons) was the main destination for fructose exports from Greece, accounting for a 41% share of total exports. Moreover, fructose exports to the Czech Republic exceeded the volume sent to the second major destination, Cyprus (X tons), twofold. Albania (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to the Czech Republic amounted to +98.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+13.3% per year) and Albania (+13.7% per year).

In value terms, the Czech Republic ($X), Cyprus ($X) and Albania ($X) appeared to be the largest markets for fructose exported from Greece worldwide, together comprising 45% of total exports.

The Czech Republic, with a CAGR of +76.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average fructose export price amounted to $X per ton, jumping by 37% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+34.2%), while the prices for the other major destinations experienced mixed trend patterns.

Fructose Imports

Imports into Greece

In 2021, after two years of growth, there was significant decline in purchases abroad of fructose and fructose syrup, when their volume decreased by -8.1% to X tons. Over the period under review, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 29%. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, fructose imports soared to $X in 2021. In general, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +57.2% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of 35%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Bulgaria (X tons), Turkey (X tons) and Germany (X tons) were the main suppliers of fructose imports to Greece, together accounting for 51% of total imports. Italy, the Netherlands, Belgium, Indonesia, France, Austria, Slovakia, Hungary, the Czech Republic and the UK lagged somewhat behind, together comprising a further 40%.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +157.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Turkey ($X) and Bulgaria ($X) appeared to be the largest fructose suppliers to Greece, with a combined 34% share of total imports. Indonesia, the Netherlands, Italy, France, Belgium, Hungary, the UK, Slovakia, the Czech Republic and Austria lagged somewhat behind, together comprising a further 52%.

Among the main suppliers, Hungary, with a CAGR of +142.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fructose import price stood at $X per ton in 2021, with an increase of 37% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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