IOBE: Greek food and beverage industry generates €26.2B in turnover

The findings of the 21st Report of the Foundation for Economic and Industrial Research (IOBE), prepared on behalf of the Federation of Hellenic Food Industries (SEVT), highlight the strategic importance of the sector and its contribution to the Greek economy during the 2020–2024 period.

The study presents a sector with a strong productive foundation, significant investment activity and an expanding presence in international markets, despite the challenging environment of high costs, geopolitical uncertainty and inflationary pressures in recent years.

Greece’s largest manufacturing employer

The Food and Beverage Industry is the largest sector within Greek manufacturing, with a turnover of €26.2 billion and a contribution of 27% to total manufacturing value added, generating €4.7 billion in added value.

At the same time, it ranks first in terms of employment, directly employing approximately 162,000 workers. The sector’s strong presence throughout the country makes it one of the most important contributors to employment and regional development.

Exports double over a decade

The export performance of the Greek Food and Beverage Industry has been particularly dynamic. Sector exports have doubled over the past decade, reaching €7.4 billion in 2025 and accounting for 15% of Greece’s total exports.

Processed fruits and vegetables, as well as dairy products, play a central role in export performance, representing almost 51% of the total value of food and beverage exports.

European markets remain the main destination for Greek products, with Italy and Germany absorbing approximately 30% of sector exports. Similarly, the Netherlands and Germany are among the leading sources of imports, accounting for 28% of total imports.

More than €7 billion invested over a decade

The sector’s growth momentum is also reflected in its investment activity. Food and beverage companies invested more than €1 billion in 2024, while total investments during the 2015–2024 period exceeded €7.2 billion.

These investments have focused on modernising production facilities, strengthening innovation, accelerating digital transformation and improving the competitiveness of Greek businesses.

Research and Development activity has also been significant. In 2023, the food, beverage and tobacco industry allocated €56.5 million to R&D projects, representing approximately 10.5% of total research and development expenditure in Greece.

Price containment despite international pressures

Despite the significant challenges caused by the energy crisis, rising raw material costs and international market disruptions, the Food and Beverage Industry has demonstrated resilience, supporting the domestic market and consumers.

According to the report, for branded packaged food products, the price change index during the period January 2025–June 2026 remained almost unchanged, close to zero, with only minor fluctuations.

This development is attributed to the efforts of companies in the sector to absorb part of the increased cost pressures and maintain competitive prices for Greek households.

SEVT: “We continue to invest and create value”

The President of SEVT, Mr Ioannis Giotis, noted that the report’s findings confirm the pivotal role of the Food and Beverage Industry in the national economy.

He stated that companies in the sector continue to invest, create value and strengthen their competitiveness, while simultaneously absorbing a significant portion of price increases for the benefit of consumers.

For his part, IOBE Director General Mr Nikos Vettas emphasised that the study highlights the strategic importance of the sector, which demonstrates strong performance in terms of value added, employment, investment and exports.

Further strengthening export orientation and maintaining competitiveness are expected to remain the key priorities for the future of Greece’s Food and Beverage Industry, a sector that continues to serve as a major driver of economic growth.