Greece: Soups Market 2024

Soups Market Size in Greece

The Greek soups market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Soups consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Soups Production in Greece

In value terms, soups production rose remarkably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when the production volume increased by 39%. Soups production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Soups Exports

Exports from Greece

In 2021, overseas shipments of soups and broths increased by 19% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports posted a slight expansion. The pace of growth was the most pronounced in 2015 when exports increased by 47%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, soups exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a slight reduction. The pace of growth was the most pronounced in 2016 with an increase of 35%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Cyprus (X tons) was the main destination for soups exports from Greece, accounting for a 71% share of total exports. Moreover, soups exports to Cyprus exceeded the volume sent to the second major destination, Germany (X tons), fourfold. The third position in this ranking was held by Albania (X tons), with a 3.3% share.

From 2012 to 2021, the average annual growth rate of volume to Cyprus amounted to +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-4.2% per year) and Albania (+2.4% per year).

In value terms, Cyprus ($X) remains the key foreign market for soups and broths exports from Greece, comprising 73% of total exports. The second position in the ranking was taken by Germany ($X), with an 18% share of total exports. It was followed by Albania, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cyprus was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-3.0% per year) and Albania (-1.7% per year).

Export Prices by Country

In 2021, the average soups export price amounted to $X per ton, with an increase of 2.5% against the previous year. In general, the export price, however, showed a pronounced descent. The growth pace was the most rapid in 2020 an increase of 13% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Albania ($X per ton), while the average price for exports to Bulgaria ($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 the Netherlands (+10.5%), while the prices for the other major destinations experienced mixed trend patterns.

Soups Imports

Imports into Greece

In 2021, approx. X tons of soups and broths were imported into Greece; waning by -27.5% on 2020 figures. In general, imports showed a pronounced descent. The growth pace was the most rapid in 2020 with an increase of 38% against the previous year. As a result, imports reached the peak of X tons, and then declined remarkably in the following year.

In value terms, soups imports fell significantly to $X in 2021. Overall, imports showed a perceptible decline. The pace of growth was the most pronounced in 2016 with an increase of 19% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Slovakia (X tons), Portugal (X tons) and Germany (X tons) were the main suppliers of soups imports to Greece, with a combined 55% share of total imports. These countries were followed by Austria, Poland, Italy, Hungary, Spain and Romania, which together accounted for a further 41%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +196.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest soups suppliers to Greece were Slovakia ($X), Germany ($X) and Portugal ($X), with a combined 59% share of total imports. These countries were followed by Austria, Poland, Italy, Hungary, Spain and Romania, which together accounted for a further 35%.

Among the main suppliers, Austria, with a CAGR of +166.5%, saw 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 soups import price stood at $X per ton in 2021, surging by 11% against the previous year. In general, the import price, however, saw a mild slump. The pace of growth appeared the most rapid in 2016 an increase of 19%. The import price peaked at $X per ton in 2018; however, from 2019 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 Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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