With manufacturers focusing on maintaining volume sales, discounting became a common practice across the packaged food market. This strategy aimed to prevent consumers reducing consumption or migrating to private label products. To an extent, discounts proved a successful tool, protecting huge losses in volume sales or branded products seeing dramatic losses in share. Nevertheless with average price declining in most categories, value sales witnessed decline in 2011.
Recession takes toll even in packaged food market
Although last year manufacturers were more optimistic, hoping that given the importance of food in Greek culture consumers would not reduce spending on food even in the context of recession, this was not the case. As Greeks were left with less money to spend, shopping lists became common in each household, with consumers avoiding any non-essential purchases. Although in many food categories volume sales remained stable, value sales decline steeply nearly across all segments, as extensive discounting and migration to private label products affected overall value.
Artisanal products continue to lead
Artisanal products continue to account for the bulk of sales of packaged food in Greece. Bread and pastries as well as cheese are the categories where artisanal products account for a considerably high share, although their presence is significant also in other categories, namely honey, yoghurt or olive oil. In line with their often lower price, artisanal products are not expected to suffer considerably from the economic downturn.
Published: April 2012
Price : US $ 6500
With the economic situation in Greece remaining bleak, there are no signs of recovery for the near future. Mass increases in unemployment and even stricter measures are expected from the government to manage the country’s debt. Consumer behaviour over the forecast period is thus expected to change significantly, with consumers being more price-sensitive, switching to private label products, chasing offers and promotions, purchasing unpackaged products and doing some of their shopping in outdoor markets, where prices are lower. Reducing purchases of non-essential or luxury items will represent another trend, while a considerable decline in spending in foodservice establishments is expected. Uncertainty and pessimism characterise the expectations of manufacturers and consumers alike. Tax hikes for food products are expected to be imposed over the forecast period.
Table of Contents
Packaged Food in Greece – Industry Overview
EXECUTIVE SUMMARY
Discounts have negative impact on value sales
Recession takes toll even in packaged food market
Artisanal products continue to lead
Discounters see best performance in 2011
Forecast remains pessimistic
KEY TRENDS AND DEVELOPMENTS
Turbulent economic conditions hinder growth
Cocooning: trend triggers new consumption patterns
Cooking shows affect consumer behaviour
Significant changes take place in competitive landscape
Changes in the retail environment affect consumption patterns
FOODSERVICE – KEY TRENDS AND DEVELOPMENTS
Headlines
Trends
Competitive Landscape
Prospects
Category Data
IMPULSE AND INDULGENCE PRODUCTS – KEY TRENDS AND DEVELOPMENTS
Headlines
Trends
Competitive Landscape
Prospects
Category Data
NUTRITION/STAPLES – KEY TRENDS AND DEVELOPMENTS
Headlines
Trends
Competitive Landscape
Prospects
Category Data
MEAL SOLUTIONS – KEY TRENDS AND DEVELOPMENTS
Headlines
Trends
Competitive Landscape
Prospects
Category Data
MARKET DATA
Table 35 Sales of Packaged Food by Category: Volume 2006-2011
Table 36 Sales of Packaged Food by Category: Value 2006-2011
Table 37 Sales of Packaged Food by Category: % Volume Growth 2006-2011
Table 38 Sales of Packaged Food by Category: % Value Growth 2006-2011
Table 39 GBO Shares of Packaged Food 2006-2010
Table 40 NBO Shares of Packaged Food 2006-2010
Table 41 NBO Brand Shares of Packaged Food 2007-2010
Table 42 Penetration of Private Label by Category 2006-2011
Table 43 Sales of Packaged Food by Distribution Format: % Analysis 2006-2011
Table 44 Sales of Packaged Food by Category and Distribution Format: % Analysis 2011
Table 45 Forecast Sales of Packaged Food by Category: Volume 2011-2016
Table 46 Forecast Sales of Packaged Food by Category: Value 2011-2016
Table 47 Forecast Sales of Packaged Food by Category: % Volume Growth 2011-2016
Table 48 Forecast Sales of Packaged Food by Category: % Value Growth 2011-2016
Sources
For more Food and Beverage Reports @ http://www.reportsnreports.com/market-research/food-and-beverages/