Wine and wine products market in Greece

Earlier Report Observations

From 2018 to 2020, the Greek wine market contracted in volume from 286 thousand tons to 234 thousand tons. Early in the period, the involvement of a new generation in winery management and strategic partnerships helped develop richer product portfolios with Greek and foreign varieties, supporting sales domestically and abroad. However, the COVID-19 pandemic in 2020 severely impacted the hospitality and tourism sectors—key consumption channels for wine—curtailing an expected sales increase and leading to a sharp market decline, partially offset by a shift to retail and online wine purchases.

Recovery began in 2021, with market volume rising to 245 thousand tons driven by an 8.13% increase in domestic wine production, rebounding export markets such as the US and UK, and a significant revival in tourism. In the following years, market consolidation intensified with Cavino strengthening its position as a leading player and the ambitious entry of Ambux, which aimed to double its market share through new labels and vineyards. Rising consumer prices, including a 3.7% increase in 2022, contributed to substantial market value growth, lifting it to 978 million US dollars in 2023 despite some volatility in physical volume.

Production wine and wine products in Greece

In kind, 2017-2020, K t

Between 2017 and 2020, Greece ranked as the 17th largest producer of wine and wine products globally.

Top producers of wine and wine products, 2017-2020

World map of production of wine and wine products, 2017-2020

Wine and wine products production in Greece declined for the second consecutive year. In 2020, Greece produced 264.6 K t of wine and wine products, marking a moderate drop of 5.6% compared to 2019. From 2017 to 2020, production decreased by 11.1%, which translates to an annualized rate of 3.8%. The highest production level was recorded in 2018 at 300.0 K t. The largest decline occurred in 2019, with a 6.6% decrease, while the largest increase was in 2018, at 0.8%.

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

In value, 2017-2020, M $ US

Greece's wine and wine products production value declined for the second consecutive year. In 2020, the output was valued at 733.4 M $ US, which is 5.4% less than in 2019. From 2017 to 2020, production value decreased by 11.9%, equating to an annualized rate of 4.1%. The peak value was recorded in 2018 at 853.5 M $ US. The largest decline was in 2019, with a 9.1% drop, while the largest increase was in 2018, at 2.5%.

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

Exports wine and wine products from Greece

Exports in kind, t

Wine and wine products exports from Greece declined for the second consecutive year. In 2020, Greece exported 61 625 t of wine and wine products, showing a slight reduction of 2.0% compared to the previous year. The highest export volume was recorded in 2018 at 65 625 t. The largest decline occurred in 2019, with a 4.1% decrease, while the largest increase was in 2018, at 4.4%.

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

From 2017 to 2020, Germany, Iraq, and France remained the main buyers of wine and wine products from Greece in terms of volume. Germany accounted for 47.7% of exports in kind, Iraq for 7.9%, and France for 6.2%, together forming 61.7% of total exports in kind.

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, M $ US

Wine and wine products exports from Greece declined for the second consecutive year. In 2020, exports were recorded at 170.8 M $ US, reflecting a small fall of 1.9% compared to the previous year. Between 2017 and 2020, exports decreased by 2.9%, equating to an annualized rate of 1.0%. The maximum value was recorded in 2018 at 186.7 M $ US. The largest decline occurred in 2019, with a 6.8% drop, while the largest increase was in 2018, at 6.2%.

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

From 2017 to 2020, Germany, the United States, and Iraq were the main buyers of wine and wine products from Greece in value terms. Germany accounted for 39.4% of exports in value, the United States for 8.8%, and Iraq for 6.2%, together comprising 54.4% of total exports in value terms.

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

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

Imports wine and wine products to Greece

Imports in kind, t

In 2020, Greece imported 30 967 t of wine and wine products, showing an abrupt decline of 43.8% year-over-year. Between 2017 and 2020, imports decreased by 41.3%, equating to an annualized rate of 16.3%. The highest import volume was recorded in 2019 at 55 054 t. The largest increase occurred in 2019, at 6.0%.

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

From 2017 to 2020, Italy, the United Kingdom, and Spain continued to be the main suppliers of wine and wine products to Greece in terms of volume. Italy accounted for 29.6% of imports in kind, the United Kingdom for 16.8%, and Spain for 10.0%, jointly forming 56.4% of total imports in kind.

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, M $ US

Greece's wine and wine products imports declined for the second consecutive year. In 2020, Greece imported a total of 146.2 M $ US of wine and wine products, down by 39.6% year-over-year. Over the period 2017-2020, imports decreased by 38.3%, with a compound annual growth rate of 14.9%. The maximum value was recorded in 2018 at 242.3 M $ US. The largest increase occurred in 2018, at 6.6%.

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

From 2017 to 2020, the United Kingdom, Italy, and France formed the main cluster of markets for wine and wine products imports to Greece in value terms. The United Kingdom accounted for 26.0% of imports in value, Italy for 18.1%, and France for 14.3%, with a combined share of 58.4% 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