Sweet and savory snacks are food industry’s driving force
Could chips, cookies and croissants constitute a field of fertile investment opportunities both inside and outside of Greece for local companies? Data show that - not just in Greece but around the world - sweet and savory snacks are the driving force of the food industry.
Snack sales have never dipped in Greece, even during the years of the economic crisis, as was the case with dairy products. Savory snacks alone enjoy an annual turnover of some 90 million euros, while the market's global turnover is estimated at over $115 billion - projected to exceed $133 billion by 2021.
According to figures compiled by IRI researchers, snack sales last year at Greek supermarkets increased 6.3 percent year-on-year, which was the biggest annual increase after that recorded in the frozen food category. In the first nine months of this year, snack sales turnover expanded by 4.5...