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Greece Food and Drink Report Q3 2008Published by: Business Monitor International Published: Jul. 21, 2008 - 68 Pages Table of Contents
AbstractThe Greek market for soft drinks, which was showing signs of maturity a few years ago, is nowexhibiting growth rates higher than the Western European average. The soft drinks market is veryconsolidated and dominated by products from The Coca-Cola Co. and Pepsi Co. However, productinnovation and rising disposable incomes has pushed up per capita consumption and this trend is forecastby BMI to continue.In May 2008, The Coca-Cola Hellenic Bottling Company, which holds the franchise to bottle Coca-Cola products in Greece, reported that its sales in the country increased by a healthy 7.0% in 2007. Thisfollowed of growth of 3.1% in 2006 and can be compared to the period between 2003 and 2005 when thefirm’s volume sales actually declined by 2%. This stagnation was also being registered by Coca-Cola’scompetitors and led to suggestions that the soft drinks market was fully mature. However, the recentstrong growth would suggest this is not the case and that the right products will still find a receptiveaudience. As in other mature soft drinks markets Greek consumers are turning away from carbonated soft drinkswhich are seen as unhealthy and instead drinking more juice based drinks, functional drinks and bottledwater. Greece is a major European producer of fruit and the fruit juice segment has particular importance.This is an area which has received particular attention from both Coca-Cola Hellenic and the PepsiBottling Group, which holds the franchise to bottled Pepsi Co products in the countryCoca-Cola Hellenic owns Amita, the leading Greek juice brand, and in 2007 the firm launched newflavours and backed the brand with a new marketing campaign. This followed the launch of Amitasmoothies in 2005 and a version with added anti-oxidants in 2006. These innovations, which focus onproducts that offer health and functional benefits, are likely to be one of the key reasons why the firm hasreturned to growth over the last two years. Despite the growing importance of the juice category the Greek soft drinks sector is still dominated bycola products. The launch of Coke Zero in 2006, which contains no sugar and is targeted at maleconsumers, also boosted Coca-Cola Hellenic’s sales in 2006 and 2007 and continued innovation in thecarbonated soft drinks category is also likely to play in part in driving growth, going forward. Get Full Details About This Report >> |
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