Sparkling wine market in Greece

Earlier Report Observations

The sparkling wine market in Greece grew to 3.5 million liters in 2019, supported by a consumer preference for lighter styles and the arrival of new sparkling wines made from indigenous Greek grape varieties. This trend was interrupted in 2020 when the COVID-19 pandemic led to a market collapse, with volume falling to 1.6 million liters due to closed hospitality sectors and disrupted trade.

Post-2020, import volumes rebounded sharply, exceeding 5 million liters by 2023. This recovery was sustained by ongoing demand for Greek-labeled sparkling wines and the introduction of specific premium products like the Méthode Traditionnelle Vidiano from Douloufakis. A concurrent decline in EU-wide sparkling wine production in 2023 further highlighted the market's reliance on imports, before volumes eased slightly to 4.8 million liters in 2024.

Production sparkling wine in Greece

In value, 2017-2020, K $ US

Sparkling wine production in Greece declined for the second consecutive year. In 2020, output was valued at 1 505 K $ US, which represents a 41.0% decrease compared to 2019. Over the period from 2017 to 2020, production fell by 40%, with a compound annual growth rate (CAGR) of -15.7%. The highest value was recorded in 2018 at 2 768 K $ US, and the largest increase occurred in 2018 with a 10.3% rise.

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

In kind, 2017-2020, K l

After a two-year increase, sparkling wine production in Greece declined. In 2020, Greece produced 200.9 K liters of sparkling wine, which is 40.5% lower than the previous year. From 2017 to 2020, production decreased by 37.4%, with a compound annual growth rate (CAGR) of -14.5%. The peak was in 2019 at 337.8 K liters, and the largest increase was in 2018 with a 4.6% growth.

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

Exports sparkling wine from Greece

Exports in kind, K l

Following a two-year rise, Greece's sparkling wine export volume declined. In 2020, Greece exported 173 K liters of sparkling wine, down by 36.8% compared to the prior year. Over the period from 2017 to 2020, exports decreased by 23%, with a compound annual growth rate (CAGR) of -8.3%. The maximum volume was recorded in 2019 at 273 K liters, and the largest increase occurred in 2018 with a 20.8% rise.

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

From 2017 to 2020, the main destinations for Greece's sparkling wine exports in volume terms were Cyprus (25.0% of exports), Germany (24.1% of exports), and the United States (15.5% of exports). Together, these three countries accounted for 64.6% of total export flows.

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 uptick, sparkling wine exports from Greece declined. In 2020, exports were valued at 1 208 K $ US, marking a 30.0% decrease compared to the previous year. Between 2017 and 2020, exports fell by 14.9%, equating to an annualized rate of -5.2%. The highest value was recorded in 2019 at 1 727 K $ US, and the largest increase was in 2018 with a 20.7% rise.

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

In the period from 2017 to 2020, the principal destinations for Greece's sparkling wine exports in value terms were Cyprus (23.2% of exports), Germany (20.2% of exports), and the United States (19.8% of exports). Collectively, these three markets represented 63.2% 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 sparkling wine to Greece

Imports in kind, K l

The data shows irregular changes, indicating a volatile market environment. Imports reached their lowest point in 2020 and peaked in 2017, with a 3.7-fold difference between these years. In 2020, Greece imported 1 540 K liters of sparkling wine, a steep decrease of 55.6% year-over-year. The largest increase was recorded in 2019 with a 15.5% rise.

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

From 2017 to 2020, the leading suppliers of sparkling wine to Greece in volume terms were Italy (45.8% of imports), the Netherlands (23.1% of imports), and France (12.8% of imports). Their combined share reached 81.7% of total imports.

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 improvement, Greece's sparkling wine import volume declined. In 2020, Greece imported approximately 13 363 K $ US of sparkling wine, which is 50.1% lower relative to the prior year. Over the period from 2017 to 2020, imports decreased by 37.4%, with a compound annual growth rate (CAGR) of -14.5%. The maximum value was recorded in 2019 at 26 786 K $ US, and the largest increase occurred in 2018 with a 13.0% rise.

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

In the years 2017 to 2020, two leading markets—France and Italy—together accounted for 85.5% of total imports in value terms, while the remaining volume was distributed across a wide range of other countries.

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

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