Perfumes and toilet waters market in Greece

Earlier Report Observations

From 2018 to 2021, the Greek perfume and toilet water market experienced notable shifts. The implementation of a ministerial decision harmonizing Greek cosmetics safety regulations with European standards in 2018 set stricter production requirements under the oversight of the National Organization for Medicines. This regulatory environment coincided with market growth in 2019, supported by continuous development of sector companies. However, the COVID-19 pandemic in 2020 caused a sharp decline, with market volume dropping to 1.9 million liters and value to $78.9 million, as restrictions and store closures reduced sales, especially for premium products. A gradual recovery followed in 2021, with market volume rising to 2.2 million liters and value to $90.9 million, driven by renewed demand for personal care products post-pandemic.

In the subsequent period, the market navigated inflationary pressures and changing consumer habits. Significant cost increases for raw materials and production due to the energy crisis in 2022 led to higher prices, shifting demand toward more affordable private-label products. The fragrance segment expanded robustly, driven by strong growth in perfume sales, demand from younger consumers, and tourism recovery. Online sales and e-commerce gained prominence, while major players like L’Oreal and Coty strengthened their presence through partnerships. Import volumes rose from 364 thousand liters in 2022 to 678 thousand liters by 2024, reflecting sustained consumer demand despite price sensitivities, as inflationary pressures began to moderate.

Production perfumes and toilet waters in Greece

In value, 2017-2020, K $ US

Greece's production of perfumes and toilet waters has increased for the third consecutive year. In 2020, output was valued at 47 314 thousand US dollars, showing a modest 5.2% year-over-year growth. From 2017 to 2020, production rose by 13.4%, with a compound annual growth rate of 4.3%.

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

In kind, 2017-2020, K l

Greece's production of perfumes and toilet waters has increased for the third consecutive year. In 2020, 1 841 thousand liters were produced, with only a marginal fluctuation compared to 2019. Between 2017 and 2020, production grew by 8%, equating to an annualized rate of 2.6%.

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

Exports perfumes and toilet waters from Greece

Exports in kind, K l

Cross-border shipments of perfumes and toilet waters from Greece have increased for the second consecutive year. In 2020, exports totaled 247.3 thousand liters, marking a solid 21.0% year-over-year gain. From 2017 to 2020, exports decreased by 3%, with a compound annual growth rate of -1.0%. The lowest volume was recorded in 2018 at 179.2 thousand liters, which represented the largest decline of 29.7% that year.

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

From 2017 to 2020, the partner structure for exports in kind was balanced rather than concentrated. Poland accounted for 18.6% of exports, Serbia for 16.8%, and Hungary for 9.4%, jointly representing 44.8% of total flows. Many other countries made up the remaining 55.2%.

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

After a two-year increase, Greece's export volume of perfumes and toilet waters declined. In 2020, exports were valued at 24 309 thousand US dollars, down 10.1% compared to 2019. Between 2017 and 2020, exports increased by 43.1%, equating to an annualized rate of 12.7%. The highest value was recorded in 2019 at 27 026 thousand US dollars, with the largest increase of 32.6% occurring that year.

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

Throughout 2017 to 2020, Czechia, Poland, and Cyprus were the key partners for exports in value terms. Czechia accounted for 22.0% of exports, Poland for 21.3%, and Cyprus for 7.3%, together representing 50.6% of total flows.

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

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

Imports perfumes and toilet waters to Greece

Imports in kind, K l

Greece's import volume of perfumes and toilet waters has declined for the third consecutive year. In 2020, imports stood at 312.0 thousand liters, which is 24.6% less year-over-year. From 2017 to 2020, imports decreased by 44.1%, with a compound annual growth rate of -17.6%.

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

Throughout 2017 to 2020, France, Spain, and Germany formed the core of imports in kind. France accounted for 28.4% of imports, Spain for 19.5%, and Germany for 15.3%, together taking 63.2% of total flows.

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, K $ US

After a two-year increase, shipments of perfumes and toilet waters to Greece from abroad declined. In 2020, imports came to 55 911 thousand US dollars, amounting to a steep 39.5% year-over-year reduction. Between 2017 and 2020, imports decreased by 14%, equating to an annualized rate of -4.9%. The maximum value was recorded in 2019 at 92 471 thousand US dollars, with the largest increase of 34.4% occurring in 2018.

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

Over 2017 to 2020, Spain, France, and Germany consistently occupied leading positions in the country structure of imports in value terms. Spain accounted for 33.1% of imports, France for 23.5%, and Germany for 16.6%, jointly accounting for 73.2% of total flows.

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

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