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Greece - The Future of Foodservice to 2021

Greece - The Future of Foodservice to 2021


Unemployment in Greece remains notoriously high, reaching 23.5% in 2016. Youth unemployment has remained above 40% since 2011, resulting in a ‘brain-drain’ of young, qualified Greeks seeking employment and higher standards of living elsewhere. Greece’s recovery also continues to be hindered by a long-standing culture of tax evasion, which is often referred to in the press as the country’s ‘national sport’. Recent efforts from the governing Syriza to clamp down on this have included the mandatory installation of Point of Sale (POS) terminals across certain industries.

Between 2014 and 2016, the Greek profit sector recorded subdued value growth at a CAGR of 0.6%. The foodservice profit sector has, to a degree, evaded the steep decline experienced in other industries, due to its links to the reliably robust tourism industry. Similarly, the foodservice market enjoys somewhat inelastic demand, as Greeks remain resilient and continue to partake in regular out-of-home meal occasions.

In 2016, Greece’s QSR market was valued at approximately EUR€ 1.5 Billion, posting growth at a CAGR of 0.7% since 2014. While the global QSR market has been widely touted as ‘recession proof’, this hasn’t proved the case in Greece. Soaring unemployment and plummeting levels of disposable income have become so severe that many consumers are neglecting to ‘trade down’ meal solutions, instead opting to ‘trade out’ of out-of-home foodservices completely.

Valued at approximately EUR€ 2.8 Billion in 2016, the FSR market represents the second largest foodservice channel by revenue, accounting for 21.8% of overall profit sector revenue. Although value in the channel rose at a relatively strong CAGR of 0.7% between 2014 and 2016, this can be mostly attributed to Greece’s reliably stable tourism industry.

In 2016, Greece’s coffee and tea shop market was valued at EUR€ 386 million, posting growth at a CAGR of 0.3% since 2014. Among surveyed foodservice consumers, 63% visited a coffee or tea shop in the previous week, highlighting the relatively inelastic nature of demand in the market. For many, socializing over a Frappe or a traditional bitter coffee remains a daily ritual, despite Greece’s turbulent economic climate.

The report Greece - The Future of Foodservice to 2021 provides extensive insight and analysis of the Greek Foodservice market over the next five years (2016-2021) and acts as a vital point of reference for operators or suppliers.

In particular, this report provides the following analysis -

  • Overview of the Greek macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on Romania’s foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
  • Growth Dynamics: In-depth data and forecasts of key channels (QSR, FSR and Coffee & Tea Shops) within Greece's foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
  • Customer Segmentation: Identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Greek population.
  • Key Players: Overview of market leaders within the three major channels including business descriptions and number of outlets.
Companies mentioned in this report: Foodservice, Greece, Greek, QSR, quick, full, service, restaurant, FSR, coffee shops, growth, over, saturation, home, delivery, consumers, spending, tourism, operational, costs, austerity.

  • Sustained high levels of youth unemployment has resulted in an exodus of QSR operators' key target audience, forcing them to broaden their appeal to lucrative family segments.
  • A developing nationalistic sentiment has benefited domestic brands, as Greek consumers look to support operators that ‘give back’ to the local economy.
  • Extreme caution among consumers has stalled product innovation, with little demand for experimental food offerings. 46% of surveyed Greeks earn an annual household income of EUR€ 8,999.
Reasons to buy
  • Specific forecasts of the foodservice market over the next five years (2016-2021) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
  • Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, Coffee & Tea Shops) will allow readers understand the wants and needs of their target demographics.
  • Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within the Greek foodservice market.

  • Introduction
    • Report Guide: Main Sections
    • Report Guide: Sub-Sections
    • Executive Summary
    • Executive Summary: Consumer Trends
  • Macroeconomic context
    • Macroeconomic Overview
    • Demographic Overview: Population
    • Demographic Overview: Income Bands
  • Introducing consumer segments
    • Introducing Consumer Segments: Constructing the Segments
    • Introducing Consumer Segments
    • Introducing Consumer Segments: Frugal Convenience-Seekers
    • Introducing Consumer Segments: Time-Poor Experimenters
    • Introducing Consumer Segments: Sporadic Splurgers
    • Introducing Consumer Segments: Regimented Routiners
    • Introducing Consumer Segments: Inbetweeners
    • Introducing Consumer Segments: Key Channel Overview
  • Profit sector
    • Profit Sector Metrics
      • Table Clamp down on tax evasion sees transactions rise, foodservice market firmly price-orientated
    • Profit Sector: Value and Share by Channel
    • Profit Sector: Value Growth by Channel
    • Profit Sector: Outlets and Growth by Channel
    • Profit Sector: Transactions and Growth by Channel
    • Profit Sector: Operator Buying Volumes and Growth by Channel
    • Profit Sector: Operator Buying Volumes and Growth by Channel
    • Profit Sector: Channel Historic Growth Dynamics
    • Profit Sector: Channel Future Growth Dynamics
    • Profit Sector: Restaurant: Outlet-Type Growth Dynamics
      • Table Restaurant owner types 2016 value growth
    • Profit Sector: Restaurant: Type of Ownership Growth Dynamics
      • Table Restaurant owner types 2016 value growth
  • Quick service restaurants (QSR)
    • QSR: Summary
    • QSR: Metrics: Growth Dynamics
      • Table Operator interest in market wavers as McDonald's closes outlets and Burger King stalls entrance
    • QSR: Key Players
    • QSR: Key Consumers: Segment Overview
    • QSR: Key Consumers: Frugal Convenience Seekers
    • QSR: Key Consumers: Time-Poor Experimenters
    • QSR: Key Consumers: Sporadic Splurgers
    • QSR: Key Consumers: Regimented Routiners
    • QSR: Key Consumers: Inbetweeners
    • QSR: Key Consumers: Opportunity Areas
    • QSR: Why?
    • QSR: Why: Goody's: Case Study
    • QSR: Why: Goody's: Trends Targeted
    • QSR: Why: Goody's: How
    • QSR: What?
    • QSR: What?: Food and Drink Splits
      • Table Falling demand for high-margin alcohol intensifies pressure on operators' bottom lines
    • QSR: Where?
    • QSR: What Next?
  • Full service restaurants (FSR)
    • FSR: Summary
    • FSR: Metrics: Growth Dynamics
      • Table Outlet growth stalls, as delivery represents more affordable expansion strategy for operators
    • FSR: Key Players
    • FSR: Key Consumers: Segment Overview
    • FSR: Key Consumers: Frugal Convenience Seekers
    • FSR: Key Consumers: Time-Poor Experimenters
    • FSR: Key Consumers: Sporadic Splurgers
    • FSR: Key Consumers: Regimented Routiners
    • FSR: Key Consumers: Inbetweeners
    • FSR: Key Consumers: Opportunity Areas
    • FSR: Why?
    • FSR: What?
    • FSR: What?: Food and Drink Splits
      • Table OBP value growth of alcohol slows, as consumers remain highly cost conscious
    • FSR: Where?
    • FSR: What Next?
  • Coffee and tea shops
    • Coffee & Tea Shops: Summary
    • Coffee & Tea Shops: Metrics: Growth Dynamics
      • Table Market sees positive value growth, as operators experience mixed fortunes
    • Coffee & Tea Shops: Key Players
    • Coffee & Tea Shops: Key Consumers: Segment Overview
    • Coffee & Tea Shops: Key Consumers: Frugal Convenience Seekers
    • Coffee & Tea Shops: Key Consumers: Time-Poor Experimenters
    • Coffee & Tea Shops: Key Consumers: Sporadic Splurgers
    • Coffee & Tea Shops: Key Consumers: Regimented Routiners
    • Coffee & Tea Shops: Key Consumers: Inbetweeners
    • Coffee & Tea Shops: Key Consumers: Opportunity Areas
    • Coffee & Tea Shops: Why?
    • Coffee & Tea Shops: What?
    • Coffee & Tea Shops: What?: Food and Drink Splits
      • Table Demand for food dwindles as consumers tighten purse strings
    • Coffee & Tea Shops: Where?
    • Coffee & Tea Shop: Where: Café Mikel: Case Study
    • Coffee & Tea Shop: Where: Café Mikel: Trends Targeted
    • Coffee & Tea Shops: Where: Café Mikel: How
    • Coffee & Tea Shops: What Next?
  • Cost sector
    • Cost Operator Trends: Historic Growth
    • Cost Operator Trends: Future Growth
    • Cost Operators: Data Breakdown
      • Table Education channel leads Greece's EUR€ 547 million cost sector
  • Appendix
    • Trade and Sectors Definitions
    • Channel Definitions
    • Other Definitions
    • Key Components – Market Intelligence

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