Bread market in Greece, 2026

Earlier Report Observations

The Greek bread market expanded from around 32,000 t in 2018 to over 37,000 t in 2020. This initial growth period was supported by stabilizing trends and intensified competition within the market, including the establishment of new franchise outlets which likely improved product accessibility and stimulated consumption.

A sharp reversal began in 2021, with the market volume falling to approximately 27,800 t in 2022. This contraction was primarily driven by a forced increase in bread prices after the cost of flour doubled and energy prices quintupled, dampening consumer demand. Concurrently, the market faced significant structural pressure as approximately 1,500 bakeries began closing from 2022 onward, indicating severe sector-wide difficulties and a reduction in supply.

The downturn accelerated in 2023, with the market shrinking to about 19,400 t. The persistent high costs for raw materials and energy continued to suppress demand, while the ongoing wave of bakery closures further contracted the available market volume.

Production bread in Greece

In kind, 2017-2020, K t

Top producers of bread, 2017-2020

World map of production of bread, 2017-2020

After a two-year decline, bread production in Greece increased in 2020. The country produced 16 K t of bread that year, marking a 0.9% rise compared to 2019. However, looking at the broader period from 2017 to 2020, production actually fell by 19.8%, which translates to an average annual decline of 7.1%. The lowest production level was recorded in 2019 at 16 K t, with the largest year-on-year drop of 11.3% also occurring that year.

Annual dynamics of production in Greece in kind, 2017-2020, K t

Exports bread from Greece

Exports in kind, t

Bread exports from Greece have grown for the third year in a row. In 2020, exports reached 33 316 t, up by 0.9% from the previous year. Over the four-year span from 2017 to 2020, exports surged by 48.8%, with a compound annual growth rate (CAGR) of 14.2%.

Annual dynamics of product's exports from Greece in kind, 2017-2020, t

From 2017 to 2020, Greece's bread exports in kind were fairly evenly distributed among various countries. Bulgaria accounted for 13.7% of these exports, Cyprus for 13.1%, and Germany for 12.7%. Together, these three countries made up 39.5% of the total export volume, indicating a diverse market with no single dominant destination.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, M $ US

Bread exports from Greece have increased for the third consecutive year. In 2020, the value of these exports was $86.6 million, a 4.9% rise compared to 2019. Between 2017 and 2020, export value grew by 58.7%, equivalent to an annualized rate of 16.6%.

Annual dynamics of product's exports from Greece in value, 2017-2020, M $ US

During the 2017–2020 period, key buyers of Greek bread in value terms included Cyprus, with a 13.2% share, the United States at 12.1%, and Germany at 12.0%. However, their combined share was only 37.3% of total export value, while the remaining 62.7% was spread across numerous other trading partners, highlighting a fragmented market structure.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports bread to Greece

Imports in kind, t

Bread imports into Greece have risen for the third year in a row. In 2020, imports amounted to 54 785 t, a 2.5% increase from 2019. From 2017 to 2020, import volume grew by 25.5%, with a compound annual growth rate (CAGR) of 7.9%.

Annual dynamics of product's imports to Greece in kind, 2017-2020, t

In the 2017–2020 period, Germany was the leading supplier of bread to Greece in kind, accounting for 25.7% of imports, followed by Bulgaria at 17.1% and Romania at 9.3%. Together, these three countries represented 52.1% of total import volume, though this still left a significant portion sourced from other nations.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, M $ US

Bread imports into Greece have increased for the third consecutive year. In 2020, imports were valued at $119.3 million, a modest uptick of 1.9% compared to 2019. Over the 2017–2020 period, import value rose by 18.2%, which corresponds to an annualized growth rate of 5.7%.

Annual dynamics of product's imports to Greece in value, 2017-2020, M $ US

The structure of Greece's bread imports in value terms from 2017 to 2020 was highly fragmented. Germany held a 21.6% share, Bulgaria 14.8%, and Italy 13.1%. Combined, these three countries accounted for 49.6% of total import value, with no single supplier dominating the market, as the rest was distributed among many other partners.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020