Equipment for hot drinks and food heating market in Greece

Earlier Report Observations

The market for machinery and equipment used to make hot drinks and heat food in Greece contracted in value from USD 34.3 million in 2018 to USD 25.0 million in 2020, before recovering to USD 28.6 million in 2021. After a period of stabilization around USD 28.0 million in 2022, the market entered a strong growth phase, expanding to USD 32.9 million in 2023 and further to USD 38.6 million in 2024.

The market's growth from 2023 was primarily driven by a shift in consumer preferences towards affordable and multifunctional appliances, a trend spurred by household budget constraints and an increased focus on healthier diets. This demand was met with innovative product launches, such as combination units offering convection and grilling. Furthermore, rising median disposable income and a growing employed female population provided a solid foundation for increased consumption, enabling the market to expand despite broader inflationary pressures.

Production equipment for hot drinks and food heating in Greece

In value, 2017-2020, K $ US

Greece's production of equipment for hot drinks and food heating declined for the second consecutive year. In 2020, output was valued at 4,416 thousand US dollars, marking a significant decrease of 14.6% from the previous year. Production peaked in 2018 at 5,578 thousand US dollars, with the largest annual increase of 32.9% recorded that same year. Over the period from 2017 to 2020, overall production grew by 5.2%, equivalent to an annualized rate of 1.7%.

Annual dynamics of production in Greece in value, 2017-2020, K $ US

In kind, 2017-2020, unit

Equipment for hot drinks and food heating production in Greece declined for the second consecutive year. In 2020, 5,414 units were produced, down by 26.4% compared to the previous year. Production reached its highest level in 2018 at 7,703 units, with the largest annual increase of 45.1% occurring that year.

Annual dynamics of production in Greece in kind, 2017-2020, unit

Exports equipment for hot drinks and food heating from Greece

Exports in kind, unit

After a two-year decline, exports of equipment for hot drinks and food heating from Greece increased in 2020. Exports stood at 1,143 units, showing a sharp rise of 56.2% compared to 2019. The lowest export volume was recorded in 2019 at 732 units, with the largest annual decline of 31.8% that year. Over the 2017-2020 period, exports decreased by 5.5%, corresponding to a compound annual growth rate of -1.9%.

Annual dynamics of product's exports from Greece in kind, 2017-2020, unit

From 2017 to 2020, the export market for equipment for hot drinks and food heating from Greece was highly diversified. Israel accounted for 12.0% of exports in kind, China for 10.5%, and Cyprus for 8.8%, together making up 31.3% of total flows. The remaining 68.7% was distributed among many other countries, with no single partner dominating.

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, K $ US

Following a two-year decline, exports of equipment for hot drinks and food heating from Greece increased in 2020. Exports amounted to 4,147 thousand US dollars, reflecting a growth of 24.2% compared to 2019. The lowest export value was recorded in 2019 at 3,338 thousand US dollars, with the largest annual decline of 9.9% occurring in 2018. Over the 2017-2020 period, exports grew by 10.1%, equivalent to a compound annual growth rate of 3.3%.

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

Between 2017 and 2020, the country distribution of exports in value terms remained fragmented. Israel represented 11.9% of exports in value terms, China 10.4%, and Cyprus 8.6%, together accounting for just 30.9% of total flows. No single country emerged as clearly dominant in this period.

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

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

Imports equipment for hot drinks and food heating to Greece

Imports in kind, unit

Imports of equipment for hot drinks and food heating into Greece declined for the second consecutive year. In 2020, imports totaled 134,954 units, which is 45.2% lower year-over-year. Imports peaked in 2018 at 302,263 units, with the largest annual increase of 60.8% recorded that year. Over the 2017-2020 period, imports decreased by 28.2%, equating to an annualized rate of -10.5%.

Annual dynamics of product's imports to Greece in kind, 2017-2020, unit

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

Imports in value, K $ US

Greece's imports of equipment for hot drinks and food heating declined for the third consecutive year. In 2020, imports reached 24,697 thousand US dollars, corresponding to a decrease of 8.9% compared to the previous year. Over the 2017-2020 period, imports fell by 26%, with a compound annual growth rate of -9.5%.

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

From 2017 to 2020, Italy, Germany, and Bulgaria remained the top suppliers of equipment for hot drinks and food heating to Greece. Italy accounted for 52.7% of imports in value terms, Germany for 9.7%, and Bulgaria for 9.0%, jointly representing 71.4% of total imports in value terms.

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

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