Greece's Alcohol Consumption Soars, Driving Beverage Market Growth - Vinetur

The Greek beverage market has shown a vibrant and resilient performance in recent years, with a notable upswing in alcohol consumption and international trade dynamics that paint a promising picture for the future. As we look at the numbers, it's clear that Greece, while a modest player in Western European production, is making significant strides in both consumption and trade.

In 2023, Greece's total beverage production reached 2,273.4 million liters. Of this, alcoholic beverages made up 31%, with the remainder accounted for by non-alcoholic options. Although this represents only 1.43% of Western Europe's total production, the growth and specialization in certain sectors are noteworthy.

Import-wise, Greece saw a substantial increase in 2023, with the value reaching €494 million, marking an 8.83% rise from the previous year. The most imported item was ethyl alcohol with an alcoholic content under 80% by volume. Italy and the United Kingdom are the primary sources for these imports, highlighting Greece's reliance on and partnerships with these countries for specific beverage categories.

The Export Landscape

On the export front, Greece's figures are also on an upward trajectory. In 2023, exports surpassed €357 million. Germany topped the list of destination countries, absorbing a significant portion of Greek beverage exports. This suggests that Greek beverages, particularly alcoholic ones, are gaining traction and acceptance in highly competitive markets.

Domestic Consumption and Future Outlook

Domestically, the per capita consumption of alcoholic beverages has favorably evolved from 2021 to 2023. The period saw a considerable increase in expenditure on spirits since 2019, reflecting a broader trend across Europe where the consumption has been consistently positive. The recovery of the HORECA channel (Hotels, Restaurants, and Cafés) and the steady increase in tourism from 2020 onwards have been pivotal in this resurgence.

The future looks bright, with projections indicating a 10.43% increase in the sales volume of alcoholic beverages by 2027. Wine and cider are expected to see the largest percentage increases, signaling a growing appreciation for these beverages among both locals and tourists.

Strategic Insights

The data suggests a fertile ground for growth, particularly for Spanish companies looking to expand their footprint in the Greek market. Spain's competitive edge in key categories, such as wine, coupled with the ongoing recovery of tourism and the HORECA sector, sets the stage for Spanish businesses to tap into the burgeoning Greek market.

Overall, Greece's beverage industry is positioned for promising growth, driven by a blend of increased domestic consumption, strategic trade relationships, and an optimistic economic environment. This scenario offers a plethora of opportunities for both local and foreign enterprises aiming to invest in or expand within the Greek market.

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