Starches and inulin market in Greece

Earlier Report Observations

From 2018, the Greek starches and inulin market was shaped by a New Development Law offering subsidies up to 75% for producing mill, starch, and starch-based products, which supported processing sector investments. This state aid continued through 2019 and 2021, promoting smart manufacturing and digital upgrades, while the COVID-19 pandemic in 2020 altered consumption and supply chains. New EU-aligned food labeling and safety legislation introduced in 2021 further tightened production and trade standards.

Market volume peaked at 28 259 t in 2022, driven by the 'Smart Processing' subsidy program, stricter EU regulatory changes, and the entry of new players focusing on innovative products like inulin amid shifting consumer preference for healthy items. Despite ongoing subsidies and investment in production technology, the market contracted to 21 251 t in 2023 as imports fell and exports rose. In 2024, improved operational conditions and continued state support facilitated a recovery to 30 936 t, fueled by a significant rebound in imports even as raw material and transport costs increased.

Production starches and inulin in Greece

According to Faostat, there is no production of starches and inulin in Greece.

Exports starches and inulin from Greece

Exports in kind, t

Greece's exports of starches and inulin have grown for the third year in a row. In 2020, exports reached 872 tonnes, showing a modest increase of 6.5% compared to the previous year. From 2017 to 2020, exports surged by 157.7%, which translates to an average annual growth rate of 37.1%.

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

Between 2017 and 2020, Cyprus, Czechia, and Poland were the key partners for Greece's exports of starches and inulin in volume terms. Cyprus accounted for 36.2% of exports, Czechia for 18.8%, and Poland for 13.9%. Together, these three countries represented 68.9% 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 two years of growth, Greece's exports of starches and inulin in value terms declined. In 2020, exports amounted to 481 000 US dollars, marking a moderate drop of 4.3% from the prior year. From 2017 to 2020, exports increased by 77.9%, with an average annual rate of 21.2%. The peak value was recorded in 2019 at 502 000 US dollars, which also saw the largest annual increase of 49.0%.

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

From 2017 to 2020, Cyprus, Turkey, and Czechia were the leading destinations for Greece's exports of starches and inulin in value terms. Cyprus held a 40.7% share, Turkey 12.8%, and Czechia 12.3%. Combined, these three countries made up 65.7% 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 starches and inulin to Greece

Imports in kind, t

In 2020, Greece's imports of starches and inulin in volume terms reached 27 745 tonnes, up by 8.4% year-over-year. Between 2017 and 2020, imports grew by 20%, averaging an annual increase of 6.3%. The largest decline occurred in 2019 at 0.9%, while the biggest rise was in 2018 with an 11.7% increase.

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

From 2017 to 2020, Bulgaria, Romania, and Serbia were the main suppliers of starches and inulin to Greece in volume terms. Bulgaria accounted for 40.1% of imports, Romania for 10.2%, and Serbia for 10.0%. Together, these three countries formed 60.4% 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

Greece's imports of starches and inulin in value terms have risen for the third consecutive year. In 2020, imports totaled 15 315 000 US dollars, showing a 6.9% increase compared to the previous year. Over the period from 2017 to 2020, imports increased by 31.6%, with a compound annual growth rate of 9.6%.

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

The country composition of Greece's imports in value terms from 2017 to 2020 was quite dispersed. Bulgaria, Austria, and Romania were the top suppliers, with Bulgaria holding a 29.3% share, Austria 9.5%, and Romania 8.6%. Together, they accounted for just 47.4% of total import value, while the remaining 52.6% was spread 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