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Greece Food Service Market

Industry Sector

Food and Drink


16 May 2012


Mike King

Type of News


The Greece food service industry has been hit by the economic crisis and the reduction in consumer spending as a result. Rising unemployment rates which are standing at around 16% and price rises after two recent VAT increases has reduced the consumer spending power of Greek residents. The Greece food service market and restaurants have discounted heavily to counter the reduced spending power of domestic residents.

During 2010, a significant volume of restaurants closed across all the different formats including, independent, small or large chains, domestic or multinational. McDonalds, re-evaluated their network size and downsized its network since 2007 moving from 49 outlets in 2007 to just 30 outlets in 2010. In the same vein, Starbucks also reduced their network from 74 outlets in 2008 to only 60 in 2010.

Greece full-service restaurants experienced the biggest drop in revenues with 2010 sales falling by 19% and the number of outlets reducing by 6%. Bucking this trend, were the Asian restaurants which reported 17% increase in revenue, mainly due to the cheaper service and food offered.

Lower-cost channels such as steet-stalls / kiosks ad self-service cafeterias that are normally rent-free establishments within a larger retailing operation (eg IKEA) performed better.

The Greece food service market can be segmented into the following sectors.

Table 1: Greece Full-Service Restaurants by Type (EUR Mn)
Full-Service Restaurants200520062007200820092010
Chained Full-Service Restaurants153.2181.4199.2209206.5194.4
Independent Full-Service Restaurants5160.505256.805381.904865.104119.903314.90
Asian Full-Service Restaurants18.32430.233.233.731.8
European Full-Service Restaurants4278.204370.804493.004013.903389.202695.30
Latin American Full-Service Restaurants27.931.438.541.134.930.3
Middle Eastern Full-Service Restaurants21.924.126.927.625.322.8
North American Full-Service Restaurants42.962.371.175.776.973.1
Pizza Full-Service Restaurants772.7769.9765.6717.5616.8523.4
Other Full-Service Restaurants151.9155.7155.8165.1149.6132.6
Casual Dining Full-Service Restaurants106.1131.5146.9159159.3152.8
Full-Service Restaurants5313.705438.205581.005074.104326.403509.30


The following table lists the top brands by market value share operating in the Greece food service market.

Table 2: Leading Full-Service Restaurant Brands Operating in Greece, Market Value Share %
Chained RestaurantsGlobal Brand Owner2007200820092010
Pizza HutFood Plus AEBE20.420.620.119.7
Pizza RomaPizza Roma SA17.115.614.914.2
TGI Friday'sCarlson Cos Inc8.89.511.312.1
La PasteriaEverest SA10.810.69.910.5
Palmie BistroPalmie SA9.110.210.510.4
Noodle BarAthanasios Malliaros5.666.36.8
Applebee's Neighbourhood Grill & BarMilomel Hellas SA6.
Friday's Bar & CafeCarlson Cos Inc4.444.34.3
Far East PackFramar SA11.31.62
Ruby TuesdayP&D Ltd3.
Hard Rock CafeHard Rock Cafe Hellas SA1.
Gourmet Burger KitchenGBK Athens SA--0.30.9
WagamamaPositive Eating Restaurants SA-
Bennigan'sCrown Resorts Group0.
HootersFood & Fun Ltd110.90.8
Yum YumYum Yum Ltd-
Block HouseBlock House Hellas0.



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