Greece: Market for Malt Extract And Food Preparations Of Flour, Meal, And Starch 2024

Market Size for Malt Extract And Food Preparations Of Flour, Meal, And Starch in Greece

The Greek market for malt extract and food preparations of flour, meal, and starches shrank markedly to $X in 2022, with a decrease of -35.6% 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). In general, consumption continues to indicate a abrupt decrease. Consumption of peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Exports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Exports from Greece

Exports of malt extract and food preparations of flour, meal, and starches from Greece soared to X tons in 2022, increasing by 20% against the year before. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 172%. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of malt extract and food preparations of flour, meal, and starches skyrocketed to $X in 2022. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 152%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Italy (X tons), Turkey (X tons) and Germany (X tons) were the main destinations of exports of malt extract and food preparations of flour, meal, and starches from Greece, together comprising 39% of total exports. The United States, North Macedonia, Bulgaria, Albania, Cyprus, Spain, Serbia, France and the UK lagged somewhat behind, together comprising a further 49%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +427.7%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for malt extract and food preparations of flour, meal, and starches exports from Greece, comprising 26% of total exports. The second position in the ranking was taken by Italy ($X), with a 12% share of total exports. It was followed by Germany, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +51.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+8.6% per year) and Germany (+45.6% per year).

Export Prices by Country

In 2022, the average export price for malt extract and food preparations of flour, meal, and starches amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price showed a perceptible contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 25%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

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 United States ($X per ton), while the average price for exports to Turkey ($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 France (+1.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Imports into Greece

In 2022, purchases abroad of malt extract and food preparations of flour, meal, and starches decreased by -5.2% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.7% against 2016 indices. The growth pace was the most rapid in 2021 when imports increased by 19% against the previous year. As a result, imports attained the peak of X tons, and then declined in the following year.

In value terms, imports of malt extract and food preparations of flour, meal, and starches reached $X in 2022. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +106.9% against 2016 indices. The pace of growth appeared the most rapid in 2020 with an increase of 26% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), Romania (X tons) and France (X tons) were the main suppliers of imports of malt extract and food preparations of flour, meal, and starches to Greece, together comprising 58% of total imports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +119.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of malt extract and food preparations of flour, meal, and starches to Greece, comprising 41% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 12% share of total imports. It was followed by Denmark, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+7.5% per year) and Denmark (-6.0% per year).

Import Prices by Country

The average import price for malt extract and food preparations of flour, meal, and starches stood at $X per ton in 2022, picking up by 15% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by 19%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+31.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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