The Greece market accounts for nearly 2% of the Western European vodka market size. The market registered a compound annual growth rate (CAGR) of -1.6% during 2017-22 and -9.35% decline over 2021. According to GlobalData’s deep-dive analysis report, Greece vodka market databook, unflavored vodka accounted for a notable share of 94% among various vodka segments in the market in 2022, followed by flavored vodka. The report also provides in-depth analysis and market forecast to 2027. Buy the report here.
According to GlobalData’s company and brand analysis, Pernod Ricard Group, Diageo and Spi Group held significant shares in the Greece vodka market in 2022. Concurrently, Absolut, Smirnoff and Stolichnaya led in terms of brand market share. Pernod Ricard Group had the leading market share by volume in 2022. Companies operating in the Greece vodka market continue to use innovation to target gaps in product offering. Continuous tracking of market size and company performance is important to help competitors capture and maximize profits.
GlobalData’s channel analysis reveals that on trade were the key channel of purchase for vodka, along with food & drinks specialists. Also, hypermarkets & supermarkets recorded a notable growth during the COVID-19 pandemic, as consumers were forced to stay at home due to restricted movement opportunities.
On trade constituted the highest market share by volume in 2022. Consumers preferred this channel for its product assortment and competitive pricing. Food & drinks specialists was the next preferred channel in the Greece market.
Among the top Western European markets, Finland accounted for the highest volume share in 2022, followed by Republic of Ireland, the UK, Germany, Norway, Austria, Sweden, France, Greece, Switzerland, the Netherlands, Denmark, Spain, Belgium, Italy, and Portugal.
With a growing number of consumers seeking to experiment with novel products, manufacturers and brands need to constantly innovate their flavours and formulations to remain relevant and competitive. Additionally, the popularity of e-commerce has made it easier for shoppers to compare product features and offerings across different brands.
To further understand and explore GlobalData’s insight into the vodka category and market forecast to 2027, buy the report here.