Greek Foodservice: The Future of Foodservice in Greece to 2016

21-Jun-2012 | News-Press Release

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In 2011, the profit sector accounted for a 92.6% share of total foodservice sales. During the review period, sales in the profit sector increased at a CAGR of 1.64%. In 2011, cost sector sales represented 7.4% of total foodservice sales and registered a CAGR of 3.56% during the review period (reference see graph below). The restaurant channel remained the largest in terms of foodservice sales, contributing 54.0% of profit sector sales. The growth in restaurant sales was primarily a reflection of the increase in sales at ice-cream vendors and coffee and tea shops. The largest channel in the cost sector was military and civil defense foodservices, which contributed 33.9% to total cost sector sales and recorded a CAGR of 1.96%.

The global economic recession, as well as the Greek debt crisis, has led to job losses resulting in an increase in the unemployment rate in the country. The unemployment rate has increased from 8.9% in 2006 to 16.5% in 2011. Both full service as well as quick service restaurants suffered a decline in the number of transactions.

Consumer consumption started declining in Greece in 2010 due to rising inflation and decreasing disposable incomes. The financial crisis has led to a dramatic drop in disposable incomes, which has led to the preference for cheaper forms of entertainment. One of the by products of the economic crisis in Greece is the problem of homelessness. Rising homelessness in Greece due to unemployment has further lowered consumer confidence, as many consumers have cut down on unnecessary expenses.

The tourism industry has seen a boost in the number of visitors due to various factors. The government also has taken some initiatives to promote the image of Greece as a tourist destination. These developments in the tourism sector can help to create jobs in future.

Increased ethnic diversity has influenced food consumption patterns and demand in recent years. In Greece, the overall population comprises of non-Greek nationals from Bulgaria, Germany, Kosovo, Greece, Netherlands, Romania, and the western part of Asia. However, the taste and preferences of these population groups are different from each other, creating new opportunities for foodservice providers to target new consumer sets.

This report provides a top-level overview and detailed market, channel, and company-specific insights into the operating environment for foodservice companies.

Key Features and Benefits

This report provides readers with unparalleled levels of detail and insight into the development of the foodservice sector within Greece.
This report provides readers with in-depth data on the valuation and development of both the profit and cost sectors in the Greek foodservice market.
This report provides details on the number of outlets, transactions, average price, foodservice sales, sales per outlet, and transactions per outlet per week, across nearly 50 sub-channels.
This report provides highly granular future forecasts and historic market data to aid market and strategic planning.
This report will help you to assess the impact of economic recession and recovery on foodservice market growth.

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