Rusks, toasted bread and similar toasted products market in Greece

Earlier Report Observations

The Greek market for rusks and toasted bread expanded from 36 603 t in 2018 to 43 023 t in 2022. The initial growth in 2018-2019 was supported by the closure of Nutriart, which freed up an estimated €110 million market gap and allowed other industry players to capture a 40% share. At the same time, private-label products accounted for about half of the packaged toast bread market, maintaining competitive pressure and likely supporting volume growth through affordable pricing.

Market volume continued to rise steadily through 2020-2022, though at a slower pace. By 2022, consumption reached 43 023 t, a 4.1% increase from the previous year. In value terms, the market grew to $125.3 million in 2021 before a slight contraction to $123.4 million in 2022, indicating shifts in pricing or product mix.

Production rusks, toasted bread and similar toasted products in Greece

In value, 2017-2020, M $ US

Greece's production of rusks, toasted bread, and similar toasted products has increased for the third consecutive year. In 2020, the output was valued at 122.5 million US dollars, showing a modest year-over-year increase of 2.9%. From 2017 to 2020, production grew by 15.4%, which translates to an annualized growth rate of 4.9%.

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

In kind, 2017-2020, t

Greece's production of rusks, toasted bread, and similar toasted products has risen for the third year in a row. In 2020, Greece produced 41 319 tonnes of these products, representing a 2.0% increase compared to the previous year. Between 2017 and 2020, production increased by 17.3%, equating to an annualized rate of 5.5%.

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

Exports rusks, toasted bread and similar toasted products from Greece

Exports in kind, t

After two years of growth, Greece's exports of rusks, toasted bread, and similar toasted products declined in volume. In 2020, Greece exported 5 342 tonnes, marking a 1.8% decrease from 2019. However, from 2017 to 2020, exports overall increased by 71.8%, with an annualized growth rate of 19.8%. The peak volume was recorded in 2019 at 5 442 tonnes, and the largest annual increase occurred in 2018, at 60.4%.

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

From 2017 to 2020, the United States, Bulgaria, and Cyprus were significant buyers of rusks, toasted bread, and similar toasted products from Greece, accounting for 17.0%, 16.9%, and 14.4% of exports in kind, respectively. Together, they represented 48.3% of total exports, while the remaining 51.7% was distributed among numerous other trading partners.

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

Greece's exports of rusks, toasted bread, and similar toasted products have grown in value for the third consecutive year. In 2020, exports reached 17.156 million US dollars, reflecting a slight increase of 1.6% from the previous year. Over the period from 2017 to 2020, exports surged by 102%, with a compound annual growth rate of 26.4%.

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

Between 2017 and 2020, the United States, Cyprus, and Bulgaria consistently served as the main destinations for Greece's exports in value terms, with shares of 31.5%, 13.1%, and 10.9%, respectively. Combined, these three countries accounted for 55.5% of total export value.

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

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

Imports rusks, toasted bread and similar toasted products to Greece

Imports in kind, t

Greece's imports of rusks, toasted bread, and similar toasted products have decreased for the second year in a row. In 2020, imports totaled 5 145 tonnes, showing a controlled decline of 5.5% compared to 2019. Despite this recent drop, imports increased by 22.1% overall from 2017 to 2020, with an annualized growth rate of 6.9%. The highest import volume was in 2018 at 5 588 tonnes, and the largest annual increase also occurred in 2018, at 32.7%.

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

From 2017 to 2020, Italy, Bulgaria, and Romania were the primary sources for Greece's imports of rusks, toasted bread, and similar toasted products in kind, with shares of 28.4%, 21.3%, and 15.4%, respectively. Together, they made up 65.0% of total import volumes.

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

In 2020, Greece's imports of rusks, toasted bread, and similar toasted products amounted to 12.565 million US dollars, representing a 3.0% increase year-over-year. From 2017 to 2020, imports grew by 42.8%, with an annualized rate of 12.6%. The peak value was recorded in 2018 at 12.791 million US dollars, while the largest decline occurred in 2019 at 4.6%, and the largest increase was in 2018 at 45.4%.

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

During 2017–2020, Italy, Bulgaria, and Romania were the principal sources for Greece's imports in value terms, accounting for 29.4%, 18.4%, and 14.9% of imports, respectively. Collectively, they represented 62.8% of total import value.

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

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