Greece: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in Greece

The Greek food manufacture machinery market soared to $X in 2021, with an increase of 57% against the previous year. Overall, consumption, however, recorded a perceptible shrinkage. Food manufacture machinery consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Food Manufacture Machinery Production in Greece

In value terms, food manufacture machinery production skyrocketed to $X in 2021 estimated in export price. Overall, production enjoyed a prominent expansion. The growth pace was the most rapid in 2018 with an increase of 125%. Food manufacture machinery production peaked in 2021 and is likely to see gradual growth in the immediate term.

Food Manufacture Machinery Exports

Exports from Greece

In 2021, food manufacture machinery exports from Greece declined to X units, dropping by -14.8% against 2020 figures. In general, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when exports increased by 53%. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, food manufacture machinery exports soared to $X in 2021. Over the period under review, total exports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -5.6% against 2018 indices. The pace of growth appeared the most rapid in 2016 when exports increased by 38%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Cyprus (X units), Germany (X units) and Bulgaria (X units) were the main destinations of food manufacture machinery exports from Greece, with a combined 61% share of total exports. These countries were followed by Poland, Albania, Romania, Iraq, Nigeria, Israel, Egypt, Saudi Arabia and Turkey, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Egypt (with a CAGR of +145.5%), while the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X) emerged as the key foreign market for machinery for the preparation or manufacture of food or drink exports from Greece, comprising 35% of total exports. The second position in the ranking was taken by Germany ($X), with an 8.8% share of total exports. It was followed by Poland, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cyprus totaled +32.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+67.8% per year) and Poland (+29.9% per year).

Export Prices by Country

In 2021, the average food manufacture machinery export price amounted to $X per unit, jumping by 49% against the previous year. In general, the export price recorded a tangible increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 60% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Egypt ($X per unit), while the average price for exports to Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+48.8%), while the prices for the other major destinations experienced more modest paces of growth.

Food Manufacture Machinery Imports

Imports into Greece

Food manufacture machinery imports into Greece rose rapidly to X units in 2021, surging by 14% on the previous year's figure. Overall, imports continue to indicate buoyant growth. The growth pace was the most rapid in 2017 with an increase of 207%. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, food manufacture machinery imports skyrocketed to $X in 2021. In general, imports recorded prominent growth. The pace of growth was the most pronounced in 2017 when imports increased by 98%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Germany (X units), Italy (X units) and Bulgaria (X units) were the main suppliers of food manufacture machinery imports to Greece, together comprising 62% of total imports.

From 2012 to 2021, the biggest increases were recorded for Bulgaria (with a CAGR of +114.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest food manufacture machinery suppliers to Greece were Germany ($X), Italy ($X) and Bulgaria ($X), with a combined 74% share of total imports.

Bulgaria, with a CAGR of +121.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average food manufacture machinery import price stood at $X per unit in 2021, picking up by 54% against the previous year. In general, the import price, however, continues to indicate a slight shrinkage. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Bulgaria ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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