Greece: Yoghurt Market 2024

Yoghurt Market Size in Greece

The Greek yoghurt market soared to $X in 2022, with an increase of 133% against the previous year. Over the period under review, consumption, however, showed a abrupt contraction. Yoghurt consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Yoghurt Production in Greece

In value terms, yoghurt production expanded slightly to $X in 2022 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.0% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 26% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Yoghurt Exports

Exports from Greece

After ten years of growth, shipments abroad of yoghurt decreased by -6.1% to X tons in 2022. Over the period under review, exports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 30% against the previous year. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, yoghurt exports dropped to $X in 2022. Overall, exports, however, posted a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 36%. The exports peaked at $X in 2021, and then shrank in the following year.

Exports by Country

Italy (X tons), the UK (X tons) and France (X tons) were the main destinations of yoghurt exports from Greece, with a combined 72% share of total exports. Germany, Austria, Denmark, Belgium, the Netherlands, Norway, Sweden, Cyprus and Bulgaria lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +80.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for yoghurt exported from Greece were Italy ($X), the UK ($X) and France ($X), with a combined 73% share of total exports. Germany, Norway, Austria, Belgium, Denmark, the Netherlands, Cyprus, Sweden and Bulgaria lagged somewhat behind, together comprising a further 19%.

In terms of the main countries of destination, Norway, with a CAGR of +72.0%, 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

In 2022, the average yoghurt export price amounted to $X per ton, stabilizing at the previous year. In general, the export price showed a pronounced reduction. The growth pace was the most rapid in 2013 when the average export price increased by 7.9%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 Norway ($X per ton), while the average price for exports to Bulgaria ($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 (+0.1%), while the prices for the other major destinations experienced mixed trend patterns.

Yoghurt Imports

Imports into Greece

Yoghurt imports into Greece fell to X tons in 2022, shrinking by -9.4% compared with 2021. Overall, imports saw a deep slump. The most prominent rate of growth was recorded in 2021 when imports increased by 21%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, yoghurt imports reduced to $X in 2022. Over the period under review, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2018 when imports increased by 26%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X tons), Bulgaria (X tons) and Romania (X tons) were the main suppliers of yoghurt imports to Greece, with a combined 85% share of total imports. Italy, Poland and France lagged somewhat behind, together comprising a further 9.4%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +10.7%), while purchases for the other leaders experienced a decline.

In value terms, Bulgaria ($X), Germany ($X) and Romania ($X) appeared to be the largest yoghurt suppliers to Greece, with a combined 82% share of total imports. Italy, France and Poland lagged somewhat behind, together accounting for a further 9%.

In terms of the main suppliers, Poland, with a CAGR of +8.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average yoghurt import price amounted to $X per ton, growing by 2.1% against the previous year. Over the period under review, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, yoghurt import price decreased by -1.2% against 2020 indices. The pace of growth appeared the most rapid in 2020 an increase of 26% against the previous year. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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