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Greek foodservice market greatly affected by the recession

Press Release   •   Jul 26, 2012 12:07 BST

In 2011, the Greek foodservice market profit sector accounted for a 92.6% share of total foodservice sales. Between 2006 and 2011, sales in the profit sector increased at a compound annual growth rate (CAGR) of 1.64%.

In 2011, cost sector sales represented 7.4% of total foodservice sales and registered a CAGR of 3.56%.

Traditionally, Greeks enjoy consuming home-cooked meals. However, as lifestyles have become busier, the Greek foodservice market is seeing demand for convenience foods such as ready to eat meals, frozen food products, and processed food products has risen.

The restaurant segment remained the largest within the Greek foodservice in terms of sales, contributing 54% 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 defence foodservices, which contributed 33.9% to total cost sector sales and recorded a CAGR of 1.96%.

The Greek foodservice market has been greatly affected by the fear and insecurity among consumers due to the recession and unstable economic conditions, which have made them very price sensitive and value for money conscious.

For more information on the Greek foodservice market, see the latest research: Greek Foodservice Market Report

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