Still an appetite for fast food despite crisis

Demand in Greece’s fast-food industry, valued at 732 million euros in 2008, has been more resilient in the downturn than the broader restaurant business, according to a report made public yesterday. Research company ICAP said in a study that industry officials predict the consequences of the crisis will be felt more by the market in the event the downturn has a longer duration. ICAP’s study showed that burger makers hold 36.5 percent of Greece’s fast-food chain market with annual turnover reaching 267 million euros. The sandwiches and snacks sector comes second with a 29.5 percent market share, followed by the pizza business. The souvlaki and ethnic food category makes up 7.8 percent of the fast-food market.