Greece: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Greece

The Greek sauce and seasoning market skyrocketed to $X in 2021, increasing by 32% against the previous year. In general, consumption saw a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Sauce And Seasoning Production in Greece

In value terms, sauce and seasoning production soared to $X in 2021 estimated in export price. In general, production posted a resilient increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 49%. Over the period under review, production hit record highs in 2021 and is likely to see steady growth in the near future.

Sauce And Seasoning Exports

Exports from Greece

For the seventh consecutive year, Greece recorded growth in shipments abroad of sauces and seasonings, which increased by 39% to X tons in 2021. Overall, exports recorded strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sauce and seasoning exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 43% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in years to come.

Exports by Country

Cyprus (X tons), Germany (X tons) and the UK (X tons) were the main destinations of sauce and seasoning exports from Greece, together comprising 35% of total exports. These countries were followed by Romania, France, the United States, Albania, Poland, Bulgaria, Hungary, Sweden, Japan and Canada, which together accounted for a further 52%.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +186.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sauce and seasoning exported from Greece were Germany ($X), Cyprus ($X) and the United States ($X), together accounting for 43% of total exports. France, Romania, Bulgaria, Hungary, Albania, the UK, Poland, Sweden, Canada and Japan lagged somewhat behind, together accounting for a further 42%.

Among the main countries of destination, Hungary, with a CAGR of +177.2%, recorded 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 sauce and seasoning export price stood at $X per ton in 2021, approximately mirroring the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. The pace of growth was the most pronounced in 2013 when the average export price increased by 19%. The export price peaked at $X per ton in 2020, and then fell in the following year.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the UK ($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 Canada (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports into Greece

In 2021, the amount of sauces and seasonings imported into Greece skyrocketed to X tons, jumping by 19% on the previous year's figure. The total import volume increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sauce and seasoning imports surged to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Italy (X tons) and the Netherlands (X tons) were the main suppliers of sauce and seasoning imports to Greece, together accounting for 59% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +9.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sauce and seasoning suppliers to Greece were Italy ($X), Germany ($X) and the Netherlands ($X), with a combined 60% share of total imports. These countries were followed by Belgium, the UK, Poland and Spain, which together accounted for a further 24%.

In terms of the main suppliers, Poland, with a CAGR of +10.6%, recorded the highest rates of growth with regard to 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

In 2021, the average sauce and seasoning import price amounted to $X per ton, picking up by 15% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2014; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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