Millennials along with Gen Z are the young consumers whose choices are mostly impacting trends in clothes, technology with their preferences also shaping food consumption. Gen Z, in particular, is opting for ready to go, yet healthy, snacks over traditional meals, a global trend which is also becoming evident in Greece.
On their part snack companies are racing to win on two fronts: convincing customers that they offer healthy products aligned with well-being principles and establishing themselves as a staple in consumers’ daily diets.
PepsiCo Hellas, a beverage and food company in Greece aims to double the local subsidiary’s financial footprint, without ruling out potential acquisitions in the snack sector. Snacks have become the company’s key asset, particularly as performance in the beverage sector lags.
PepsiCo Hellas estimates that is holds a 35% market share in potato ships and corn snacks, and a 50% share in nut-based snacks. Under the leadership of Inga Dengel, the company is targeting small retail outlets. “The new generation consumes snacks with enthusiasm” Dengel notes.
El Sabor, another major player in the domestic market, expects increased turnover in 2024. Greece’s first nacho chips producer, the company is investing in the expansion of its factory’s storage and production as order demands are rising. In 2023, El Sabor’s turnover grew by 23.62% reaching 32.37 million euros, up from 26.18 million euros the previous year.
Agrino also saw a notable rise in 2023, with a 14.6% increase in turnover in 2023, with the company attributing this growth to the booming demand for rice cakes and ready-to-eat rice products. Rice cakes now account for 60% of the market share in their category.
Meanwhile, the integration of Chipita’s products into Mondelez Hellas’ portfolio has been a key driver behind the multinational’s impressive financial performance. Chipita, known for its croissants, experienced high sales volume growth across Europe over the past year. As a result, Mondelez Hellas’ revenue surged to 262.35 million euros in 2023, with net profits skyrocketing by 308.8%.
