Greece: Market for Protein Concentrates and Flavoured or Coloured Sugar Syrups 2024

Market Size for Protein Concentrates and Flavoured or Coloured Sugar Syrups in Greece

In 2023, the Greek market for protein concentrates and flavoured or coloured sugar syrups decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. Over the period under review, the total consumption indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2022, and then contracted modestly in the following year.

Production of Protein Concentrates and Flavoured or Coloured Sugar Syrups in Greece

In value terms, production of protein concentrates and flavoured or coloured sugar syrups reduced to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate strong growth. The pace of growth was the most pronounced in 2019 with an increase of X%. Production of peaked at $X in 2022, and then shrank in the following year.

Exports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Exports from Greece

In 2023, after two years of decline, there was growth in overseas shipments of protein concentrates and flavoured or coloured sugar syrups, when their volume increased by X% to X tons. Overall, exports showed a resilient increase. The pace of growth was the most pronounced in 2014 when exports increased by X%. The exports peaked at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, exports of protein concentrates and flavoured or coloured sugar syrups dropped to $X in 2023. In general, exports enjoyed a prominent increase. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

Exports by Country

Cyprus (X tons) was the main destination for exports of protein concentrates and flavoured or coloured sugar syrups from Greece, with a X% share of total exports. Moreover, exports of protein concentrates and flavoured or coloured sugar syrups to Cyprus exceeded the volume sent to the second major destination, Romania (X tons), twofold. Albania (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Cyprus amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (X% per year) and Albania (X% per year).

In value terms, the largest markets for protein concentrate and flavoured or coloured sugar syrup exported from Greece were Cyprus ($X), Romania ($X) and Albania ($X), with a combined X% share of total exports. Serbia, Germany, Bulgaria, Italy, Belgium, Poland, Spain and Malta lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Malta, with a CAGR of X%, 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 2023, the average export price for protein concentrates and flavoured or coloured sugar syrups amounted to $X per ton, which is down by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2022 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Malta ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Protein Concentrates and Flavoured or Coloured Sugar Syrups

Imports into Greece

For the third consecutive year, Greece recorded decline in overseas purchases of protein concentrates and flavoured or coloured sugar syrups, which decreased by X% to X tons in 2023. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2016; however, from 2017 to 2023, imports remained at a lower figure.

In value terms, imports of protein concentrates and flavoured or coloured sugar syrups expanded remarkably to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports of hit record highs in 2023 and are likely to see steady growth in years to come.

Imports by Country

In 2023, Germany (X tons) constituted the largest protein concentrate and flavoured or coloured sugar syrup supplier to Greece, with a X% share of total imports. Moreover, imports of protein concentrates and flavoured or coloured sugar syrups from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), twofold. Serbia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Serbia (X% per year).

In value terms, the largest protein concentrate and flavoured or coloured sugar syrup suppliers to Greece were Germany ($X), the Netherlands ($X) and Italy ($X), together comprising X% of total imports. Poland, Belgium, the United States, Spain, Bulgaria, Serbia, China, Denmark and Romania lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Spain, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for protein concentrates and flavoured or coloured sugar syrups stood at $X per ton in 2023, increasing by X% against the previous year. Over the period under review, the import price posted noticeable growth. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, average import prices reached the maximum in 2023 and is expected to retain growth in years to come.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Romania (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform