Greece Organic Food Market

As per the GMI Research’s latest report, the Greece Organic Food market accounted for USD XX million in 2019 and is expected to reach USD XX million in 2027, growing at a robust CAGR of 19.9% during 2020-2027

Farmers produce organic food without using harmful chemicals and pesticides, petroleum-based fertilizers, bioengineered genes, and synthetic pesticides. In addition to this, organic farming helps to eliminate the possibilities of soil erosion, reduces pollution, and also improves soil fertility. For instance, Greece had 29, 594 approx. producers of organic products in 2018.

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The significant factors supporting the growth of the Greece organic food market include increasing health concerns among the population, growing awareness regarding the remarkable benefits offered by organic food products and increasing disposable income along with the improved standard of living of individuals. The Greece government has taken various favorable initiatives to enhance sustainable agricultural production in Greece. The government launched a Rural Development Program to encourage research and development activities and improve the balance of Greece’s food chain. For instance, the total organic area in Greece is around 492,627 hectares.

Consumers are inclined towards organic food products due to the growing demand for pesticide-free food products along with the increasing awareness related to the food quality, safety and nutritional requirements among the individuals, which will further bolster the growth of the Greece organic food market. Moreover, increasing focus of consumers towards healthy food habits and rising health concerns among the people. The rising incidences of health problems such as diabetes and cardiovascular diseases further pave the way for consumers to opt for organic food products to maintain overall well-being. In addition to this, increasing per capita spending of consumers and rising urban population rate will further create opportunities for organic food in Greece. The outbreak of COVID-19 pandemic has increased organic food product sales due to the changing consumer preference towards healthy food options and purchasing through various online distribution channels to maintain social distance. However, the high price of organic food products and the short shelf life of these food products may hinder the growth of the Greece organic food market.

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Based on type, the organic meat and poultry segment is projected to grow at the fastest CAGR during the forecast period. The factors supporting the growth of this segment include increasing demand for pork and beef among consumers and rising livestock farming in Greece. In addition to this, increasing consumer preference for organic meat and poultry products due to high-quality food options for consumers will further upsurge the market growth in upcoming years.

Based on the distribution channels, the online segment is expected to grow at a higher CAGR over the forecast period owing to the rising adoption of e-commerce and growing preference for buying organic food products through online channels. For instance, the COVID-19 pandemic has increased the sale of organic food products through online channels, driven by the rising concerns among consumers and the government’s growing focus to implement digitization across the country. This factor will further encourage the growth of online channels in the near future.

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Key Developments:

• • In 2019, MINERVA was acquired by Elaia Zeus SA, a company partly owned by investment fund Elikonos 2 SCA SICAR and controlled by investment fund Diorama Investments SICAR SA.
  • In 2019, Bioagros expanded its penetration of Greek products in the international markets by offering organic goat kefir and strained yogurt Velvet in Abazeer organic store present in Jeddah, Saudi Arabia.

The Greece Organic Food market has been segmented on the basis of type and distribution channel. Based on type, the market is segmented into organic meat & poultry, organic dairy, organic fruits & vegetables, organic spices & pulses, organic processed food, organic cereal & food grains, and other food types. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, Online, specialized stores, and other distribution channels.

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Market Segmentation:

Greece Organic Food Market by Product Type

• • Organic Fruits & Vegetables
  • Organic Dairy
  • Organic Meat & Poultry
  • Organic Spices & Pulses
  • Organic Processed Food
  • Organic Cereal & Food Grains
  • Other Food Types

Greece Organic Food Market by Distribution Channel

• • Supermarkets/Hypermarkets
  • Specialised Stores
  • Online Stores
  • Other Distribution Channel