Greece Food and Drink Report Q4 2008

Publication Date	October 2008
Publisher	Business Monitor
Product Type	Report
Pages	74
ISBN Number	1749-2718
Product Code	BMI01110

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Summary

Despite Greeces reasonably large agricultural sector, the countrys food and drink trade balance has been consistently negative for the last ten years. The relatively underdeveloped food processing sector is partly responsible for this and hints at the opportunities available to firms willing to invest in the production of goods that currently have to be imported.

Data from the United Nations Conference On Trade and Development reveals that in 2006 Greece exported food and drink products worth a total of US$4,248mn and imported products worth a total of US$6,814mn. Between 2001 and 2006 the amount of food and drink that Greece has imported has increased by 103%, while the amount exported has increased by 67%.

Meat and dairy account for around 30% and 17% of Greeces total food and drink imports respectively.

Greece is reliant on imported meat because of the limited cattle herds in the country. However, the countries dairy sector is well developed and the high level of imports is largely due to the success of international dairy firms at marketing their products to Greek consumers.

Fruit and vegetables accounts for around a third of Greeces food and drink exports while olive oil accounts for around a tenth. Primary agricultural products therefore make up the bulk of Greeces exports, with the countrys Mediterranean climate allowing for the cultivation of highly valued crops that are in demand in Western Europe and elsewhere.

This continued reliance on raw agricultural products suggests that the Greek food and drink industry has not made the most of many opportunities in the processed goods sector. The countrys comparative advantages, particularly in the areas of aquaculture and agriculture, should be capable of supporting a food and drink sector that is much larger than is evident today.

However, the rapid recent growth in exports is suggests that Greek producers have already become aware of this fact and are now investing to increase production. BMI believes that this investment will be stepped up as more producers become aware of the opportunities that Greece offers. Therefore by 2012 BMI is forecasting that Greeces food exports will increase by 56% to reach US$7695mn. At the same time this investment will reduce demand for imports. Therefore BMI is currently forecasting that the growth in food and drink imports will slow, increasing by only 13.5% over the same time period. This means that BMI is forecasting Greeces food and drink trade balance will be approaching equilibrium by 2012.

Content

Business Environment
Western Europe Food & Drink Business Environment Ratings
- Table: Regional Food & Drink Business Environment Ratings
Global Food & Drink Business Environment Ratings
SWOT Analysis
Food And Drink
Greece Food & Drink Industry SWOT
Mass Grocery Retail
Greece Mass Grocery Retail Industry SWOT
Macroeconomic Outlook
- Table: Greece Economic Activity
Food
Industry Forecast Scenario
Total Food Consumption
Greece Food Consumption Indicators Historical Data & Forecasts
Food & Drink Trade Balance Historical Data & Forecasts
Prepared Food/Canned Food
Confectionery
- Table: Confectionery Value/Volume Sales Historical Data & Forecasts
Industry Developments
Market Overview
Food Production
Prepared Food
Dairy
Organic
Seafood
Drink
Industry Forecast Scenario
Hot Drinks
Alcoholic Drinks
- Table: Alcoholic Drink Value/Volume Sales Historical Data & Forecasts
Soft Drinks
- Table: Soft Drink Value Sales Historical Data & Foreca
Industry Developments
Market Overview
Alcoholic Drinks
Soft Drinks
Hot Drinks
Agriculture At A Glance
- Table: Greece Agricultural Production Statistics
- Table: Greece Organic Agricultural Data
Agricultural Commodity Price
Mass Grocery Retail
Industry Forecast Scenario
- Table: Greece Mass Grocery Retail Value Sales By Format Historical Data And Forecasts
- Table: Grocery Retail Sales By Format Historical Data And Forecasts
Industry Developments
Market Overview
- Table: Structure Of The Mass Grocery Retail Market By Estimated Number Of Outlets
- Table: Greece Mass Grocery Retail Sales By Format (US$bn) Value Sales By Format
- Table: Average Value Of MGR Outlets, US$mn
Competitive Landscape
Key Players
Food And Drink
- Table: Key Players Greece's Food & Drink Sector, 2007
Mass Grocery Retail
- Table: Key Players Greece's Mass Grocery Retail Sector, 2007
Company Analysis
Food
Fage Dairy Industry SA
Vivartia
Drink
Coca-Cola Hellenic Beverages Company (CCHBC)
J. Boutaris & Sons Holding (Boutari Group)
Athenian Brewery SA
Mass Grocery Retail
Carrefour Marinopoulos
Atlantic Supermarket SA
Alfa-Beta Vassilopoulos SA
Deep US Recession Scenario
Global Scenario
- Table: World GDP Growth
- Table: US GDP Growth, Investment Growth And Private Consumption Growth
- Table: Eurozone GDP Growth
- Table: Asia, Excluding Japan, GDP Growth
- Table: China GDP Growth
- Table: Mexico GDP Growth
- Table: Africa GDP Growth
Western Europe Recession Scenario
- Table: Impact Of Deep US Recession On Total Food Consumption In Selected Western European Markets Cumulative Difference Between
Core And Recession Scenarios (%)
Appendix
Food & Drink Business Environment Ratings
Ratings Methodology
Ratings Overview
Ratings System
Indicators
Limits Of Potential Returns
Risks To Realisation Of Potential Returns
Weighting
Weighting
BMI Food & Drink Industry Glossary
Food & Drink
Mass Grocery Retail
BMI Food & Drink Forecasting & Sourcing
How We Generate Our Industry Forecasts
Sourcing