Australia represents a significant market for Greek F&B products, offering considerable potential for further exports and business expansion. For decades, Greek communities have served as culinary ambassadors, fostering a deep appreciation for Greek gastronomy. Additionally, Australian tourists frequently visit Greece and explore its local cuisine. All these factors have created a favorable environment for Greek Food & Beverage products, filled with great opportunities. Ms Chrysa Prokopaki, Trade Commissioner of Greece in Australia, shares her thoughts about the market’s potential, highlighting the importance of careful planning and strategic approach to achieving success.
Interview: Kyriaki Moustakidou
What would you say is the greatest asset of Greek F&B products in your market?
The real strength of Greek food and beverage products in Australia lies in their rich cultural heritage and unique flavor profiles. Greek cuisine is steeped in tradition, using fresh, high-quality ingredients and centuries-old recipes. This culinary heritage has made a big impact on Australian cuisine, especially in coastal areas with a strong Greek community. This fusion of Greek and Australian flavors has added a lot to Australia’s diverse food scene, offering a truly authentic ethnic dining experience.
Indeed, Australians are really into authentic, flavorful food, which is exactly what Greek products offer. The strong Greek diaspora in Australia also plays a significant role in promoting Greek F&B products. Greek communities have established themselves as culinary hubs, introducing authentic Greek flavors to a wider audience. Greek restaurants, bakeries, and specialty food stores offer a taste of Greece, fostering appreciation for the cuisine and its products.
Furthermore, Greek F&B products often align with contemporary dietary trends, such as the Mediterranean diet, which emphasizes healthy fats, fresh produce, and lean proteins. In Australia, where health-conscious living is a growing trend, this appeal broadens the market for Greek products, attracting consumers seeking nutritious and delicious options.
Moreover, the surge in Australian tourism to Greece and the growing popularity of food tourism have created a conducive environment for Greek F&B products. Australian tourists, increasingly adventurous and open to global cuisines, are receptive to the unique and vibrant flavors of Greece. Statistical evidence supports this claim. Australian tourists often develop a fondness for Greek products during their travels, such as olive oil and wine. This newfound appreciation translates into increased demand for these products back home in Australia, further driving Greek exports.
Subsequently the recent success of the Greek business delegation in Oceania and Southeast Asia can be largely attributed to the inherent appeal of Greek F&B products to Australian consumers.
Which Greek F&B products are the best-sellers in your market?
Greek cuisine has captured the hearts and palates of Australian consumers, and a range of products have become particularly popular.
At the forefront is high-quality extra virgin olive oil. Renowned for its health benefits and distinctive flavor profile, it has become a staple in many Australian kitchens. Our office is committed to promoting this golden elixir and actively participates in initiatives that introduce it to the Australian market.
Another beloved Greek product is honey. With its unique floral notes and rich taste, Greek honey has become a prized delicacy.
Beyond these, a variety of other Greek products have gained popularity, including olives, feta cheese, and a range of herbs and spices. Sourced directly from producers in Greece, these products offer a taste of authentic Greek cuisine, bringing a piece of the Mediterranean to Australian homes.
Ms Chrysa Prokopaki, Trade Commissioner of Greece in Australia, speaking at the Sydney Greek Festival “The Sacred Tree”
Which Greek products have the greatest potential, and how could their dynamics improve?
Greek high-polyphenol extra virgin olive oil (EVOO) holds significant potential in the Australian market. Australian consumers are increasingly health-conscious and seek out products with added health benefits. The unique properties of Greek EVOO, particularly its high polyphenol content, align perfectly with this trend. Polyphenols are powerful antioxidants linked to numerous health benefits, making Greek EVOO a desirable choice for health-conscious Australians.
To capitalize on this opportunity, Greek producers can employ several strategies. Targeted marketing that highlights the high polyphenol content can appeal to health-conscious consumers. Collaborating with researchers to conduct studies on the specific health benefits of Greek polyphenol-rich EVOO can further strengthen product claims and consumer trust. Positioning high-polyphenol Greek EVOO as a premium product can justify higher price points and attract discerning consumers. Additionally, eye-catching packaging that clearly communicates the product’s health benefits and Greek heritage can enhance shelf appeal.
While high-polyphenol EVOO is a standout product, other Greek offerings can also thrive in the Australian market. Greek honey, renowned for its unique flavors and potential health benefits, can appeal to health-conscious consumers. Greek herbs and spices, such as oregano, thyme, and rosemary, can be marketed as natural flavor enhancers and health supplements. High quality Greek wines, with their diverse varietals and unique flavors, can cater to sophisticated palates and the growing wine culture in Australia.
To optimize the potential of all the Greek products in the Australian market, several strategies can be implemented. Developing strong, recognizable brands can help differentiate Greek products from competitors. Establishing robust distribution networks, including online platforms, can ensure wide availability. Collaborating with Australian retailers, food service operators, and influencers can increase brand visibility and drive sales. Highlighting the rich history and cultural heritage of Greek products can resonate with consumers. Continuously innovating and introducing new products, such as flavored olive oils or infused honey, can attract younger customers. Emphasizing sustainable production practices can appeal to environmentally conscious consumers.
To sum it up, considering the relatively high transportation costs and the affluent nature of the Australian market, Greek exporters should really focus on niche, high-quality products. Think premium olive oils, unique honey varieties, or specialty herbs and spices. By emphasizing their authenticity, health benefits, and premium quality, Greek producers can justify higher prices and attract discerning Australian consumers. Plus, partnering with Australian distributors and retailers can streamline the supply chain and make Greek products more accessible to the market.
Please share with us some targeted actions taken to improve the position of Greek F&B products in Australia.
To bolster the position of Greek food and beverage products in the Australian market, we have undertaken a series of targeted initiatives.
Firstly, we invited key stakeholders, including collective bodies and businesses in Australia and New Zealand, to participate in a business mission organized by the Hellenic-German Chamber of Commerce and Industry last October. To further facilitate Greek companies, we distributed invitations to B2B meetings to Greek-Australian media, the Hellenic-Australian Chamber of Commerce and Industry, Business Sydney, and our extensive business network.
Secondly, we participated in a dedicated event at the Sydney Greek Festival, “The Sacred Tree,” which highlighted the significance of olives and olive oil in the modern Greek economy. Our presentation showcased the impressive scale of domestic production, the country’s export-oriented strategy, and the significant global demand for Greek olive oil, particularly in 2023. To enhance the event, we organized an olive oil tasting and a sampling of olive oil-based cosmetics, featuring products from renowned Greek companies such as Archetypon, Askra/Lymperis estate, Grolives- Ophellia, and Onar Wellness.
Furthermore, we actively participated in an International Olive Council (IOC)-led campaign to promote olive oil in Australia. This involved organizing a tasting seminar to introduce Australian industry professionals to the unique qualities of Greek olive oil, followed by a closing ceremony at the prestigious Four Seasons Hotel in Sydney. Our office delivered a presentation to highlight the health benefits, culinary applications, and cultural significance of Greek olive oil.
In addition, we collaborated with Greek-Australian media and producers of the popular English-language podcast “Ouzo Talk” to promote Greek products and advocate for Greek positions on issues such as the protection of Greek PDO/PGI products in Australia.
To further support Greek companies, we facilitated their participation in prestigious international exhibitions that provided a valuable platform to showcase their products to a global audience of buyers and industry professionals.
As part of our ongoing efforts to further improve the position of Greek products in Australia, we promoted a wine tasting organized by the “Tyrnavos Agricultural Cooperative” as part of the European-funded program “Promotion of Varietal Wines in third countries”.
Through these collaborative efforts, we have not only showcased the exceptional quality and diversity of Greek products but also fostered strong partnerships within the Australian market. We look forward to building upon this momentum and continuing to promote Greek excellence on the global stage.
What are the primary challenges companies or brands face when entering Australian market?
Australia, while a promising market for Greek products, presents certain complications. The significant geographical distance, coupled with stringent regulations and intense competition, poses considerable challenges for market entry.
However, the high quality and competitive pricing of Greek products offer significant opportunities.
To succeed in the Australian market, Greek exporters should conduct thorough market research to identify specific consumer needs and preferences. Collaborating with local partners, such as distributors or agents, who understand the market and can facilitate product entry, is crucial. Adapting products to meet Australian market requirements and ensuring compliance with regulations and standards is essential. Offering competitive prices, taking into account transportation and distribution costs, is vital to attract Australian consumers. Finally, focusing on specific geographical areas with high potential for Greek products can optimize market entry efforts.
Overall, Australia is a significant market for Greek products, but requires careful planning and strategic approach to achieve success.
What other factors impact Greece’s involvement in the goods sector?
Currently, Greece’s involvement in the goods sector is limited by the absence of a Free Trade Agreement and a Double Taxation Avoidance Agreement. These agreements could significantly boost economic cooperation, especially in the food products sector.
The ongoing EU-Australia Free Trade Agreement (FTA) negotiations, if successful, could significantly boost trade between the two regions, especially in food products. This would benefit both Australian and Greek businesses. While negotiations began in June 2018, a formal agreement is yet to be finalized. Both parties aim to reduce trade barriers and tariffs, currently around 5% on average, with the EU-New Zealand FTA, effective since May 2024, providing a potential reference point.
Furthermore, the negotiations to conclude the Double Taxation Avoidance Agreement (DTAA) between Greece and Australia, which are in the final stages, began with the groundwork laid out in November 2021. By December 2024, the agreement is nearing completion, signalling a near-future implementation that is expected to foster economic ties, improve tax efficiency, and create new trade opportunities. Eventually, this significant agreement will solidify the economic bond between Greece and Australia by encouraging further economic cooperation.
In conclusion, both parties should prioritize the negotiation and implementation of these agreements. Our Mission is committed to supporting this endeavor. We’re eager to work together to unlock the full potential of our economic partnership. Please don’t hesitate to reach out to us for any further discussion or collaboration.
Consulate General of Greece in Sydney
Office for Economic and Commercial Affairs
Level 2, 219-223 Castlereagh St, 2000 Sydney, NSW
Tel. +61292845500/512
E-mail: grgencon.sid@mfa.gr
