Greece: Market for Spirits, Liqueurs And Other Spirituous Beverages 2024

Market Size for Spirits, Liqueurs And Other Spirituous Beverages in Greece

In 2022, the Greek market for spirits, liqueurs and other spirituous beverages decreased by -1% to $X, falling for the third year in a row after three years of growth. Over the period under review, consumption saw a noticeable setback. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Spirits, Liqueurs And Other Spirituous Beverages in Greece

In value terms, production of spirits, liqueurs and other spirituous beverages soared to $X in 2022 estimated in export price. Overall, production showed a abrupt descent. Production of peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Spirits, Liqueurs And Other Spirituous Beverages

Exports from Greece

For the fifth consecutive year, Greece recorded growth in shipments abroad of spirits, liqueurs and other spirituous beverages, which increased by 5.7% to X litres in 2022. The total export volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2016 when exports increased by 8.3%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, exports of spirits, liqueurs and other spirituous beverages amounted to $X in 2022. The total export value increased at an average annual rate of +3.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when exports increased by 12% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Germany (X litres) was the main destination for exports of spirits, liqueurs and other spirituous beverages from Greece, accounting for a 45% share of total exports. Moreover, exports of spirits, liqueurs and other spirituous beverages to Germany exceeded the volume sent to the second major destination, Iraq (X litres), twofold. The third position in this ranking was held by Bulgaria (X litres), with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+9.5% per year) and Bulgaria (+14.0% per year).

In value terms, Germany ($X) remains the key foreign market for spirits, liqueurs and other spirituous beverages exports from Greece, comprising 40% of total exports. The second position in the ranking was held by Iraq ($X), with a 19% share of total exports. It was followed by Bulgaria, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+12.0% per year) and Bulgaria (+12.9% per year).

Export Prices by Country

The average export price for spirits, liqueurs and other spirituous beverages stood at $X per litre in 2022, falling by -5% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2017 an increase of 15% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per litre in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per litre), while the average price for exports to the Netherlands ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spirits, Liqueurs And Other Spirituous Beverages

Imports into Greece

In 2022, purchases abroad of spirits, liqueurs and other spirituous beverages increased by 42% to X litres, rising for the second consecutive year after eight years of decline. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 56% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, imports of spirits, liqueurs and other spirituous beverages skyrocketed to $X in 2022. In general, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +135.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 58%. Over the period under review, imports of attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Italy (X litres) constituted the largest supplier of spirits, liqueurs and other spirituous beverages to Greece, with a 32% share of total imports. Moreover, imports of spirits, liqueurs and other spirituous beverages from Italy exceeded the figures recorded by the second-largest supplier, Latvia (X litres), threefold. The third position in this ranking was taken by the Netherlands (X litres), with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume from Italy totaled +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+5.0% per year) and the Netherlands (+10.1% per year).

In value terms, Italy ($X) constituted the largest supplier of spirits, liqueurs and other spirituous beverages to Greece, comprising 29% of total imports. The second position in the ranking was held by France ($X), with a 13% share of total imports. It was followed by Latvia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Italy amounted to +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+10.2% per year) and Latvia (+9.3% per year).

Import Prices by Country

In 2022, the average import price for spirits, liqueurs and other spirituous beverages amounted to $X per litre, growing by 4.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.1%. The pace of growth was the most pronounced in 2016 an increase of 12% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform