Spinach Market in Eastern Europe - Consumption Peaked at $49M and Is Likely to Continue Its Robust Growth

IndexBox has just published a new report: 'Eastern Europe - Spinach - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

The revenue of the spinach market in Eastern Europe amounted to $X in 2018, surging by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, spinach consumption continues to indicate a remarkable increase. The pace of growth appeared the most rapid in 2011, when the market value increased by X% y-o-y. Over the period under review, the spinach market reached its peak figure level in 2018, and is expected to retain its growth in the immediate term.

Production in Eastern Europe

In 2018, the amount of spinach produced in Eastern Europe amounted to X tons, jumping by X% against the previous year. The total output indicated a conspicuous growth from 2007 to 2018: its volume increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the spinach production decreased by -X% against 2016 indices.

Exports in Eastern Europe

In 2018, approx. X tons of spinach were exported in Eastern Europe; shrinking by -X% against the previous year. In general, spinach exports, however, continue to indicate a prominent growth. In value terms, spinach exports amounted to $X (IndexBox estimates) in 2018.

Exports by Country

Poland was the largest exporter of spinach in Eastern Europe, with the volume of exports reaching X tons, which was near X% of total exports in 2018. The Czech Republic (X tons) ranks second in terms of the total exports with a X% share, followed by Bulgaria (X%), Lithuania (X%) and Latvia (X%). The following exporters - Slovakia (X tons) and Hungary (X tons) - each finished at a X% share of total exports.

From 2007 to 2018, average annual rates of growth with regard to spinach exports from Poland stood at +X%. At the same time, Hungary (+X%), Latvia (+X%), Lithuania (+X%) and Slovakia (+X%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest growing exporter in Eastern Europe, with a CAGR of +X% from 2007-2018. By contrast, the Czech Republic (-X%) and Bulgaria (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of Poland, Lithuania, Latvia and Hungary increased by +X%, +X%, +X% and +X% percentage points, while the Czech Republic (-X p.p.) and Bulgaria (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest spinach supplier in Eastern Europe, comprising X% of total spinach exports. The second position in the ranking was occupied by the Czech Republic ($X), with a X% share of total exports. It was followed by Lithuania, with a X% share.

Export Prices by Country

The spinach export price in Eastern Europe stood at $X per ton in 2018, increasing by X% against the previous year. The export price indicated a prominent expansion from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the spinach export price increased by +X% against 2013 indices. There were significant differences in the average export prices amongst the major exporting countries. In 2018, the country with the highest export price was the Czech Republic ($X per ton), while Hungary ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of export prices was attained by Bulgaria, while the other leaders experienced more modest paces of growth.

Imports in Eastern Europe

The imports amounted to X tons in 2018, jumping by X% against the previous year.In value terms, spinach imports totaled $X (IndexBox estimates) in 2018. Over the period under review, spinach imports continue to indicate an outstanding growth. The most prominent rate of growth was recorded in 2014, with an increase of X% against the previous year. The level of imports peaked in 2018, and are likely to continue its growth in the near future.

Imports by Country

Poland represented the main importing country with an import of around X tons, which finished at X% of total imports. It was distantly followed by Lithuania (X tons), Russia (X tons), Belarus (X tons), Bulgaria (X tons), the Czech Republic (X tons) and Romania (X tons), together constituting X% share of total imports.

Imports into Poland increased at an average annual rate of +X% from 2007 to 2018. At the same time, Belarus (+X%), Lithuania (+X%), Bulgaria (+X%), Russia (+X%), Romania (+X%) and the Czech Republic (+X%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest growing importer in Eastern Europe, with a CAGR of +X% from 2007-2018. While the share of Poland (+X p.p.), Lithuania (+X p.p.), Russia (+X p.p.), Belarus (+X p.p.), Bulgaria (+X p.p.), Romania (+X p.p.) and the Czech Republic (+X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported spinach in Eastern Europe, comprising X% of total spinach imports. The second position in the ranking was occupied by Lithuania ($X), with a X% share of total imports. It was followed by the Czech Republic, with a X% share.

Import Prices by Country

The spinach import price in Eastern Europe stood at $X per ton in 2018, growing by X% against the previous year. The import price indicated a noticeable growth from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, the spinach import price increased by +X% against 2015 indices. The growth pace was the most rapid in 2008, when the import price increased by X% y-o-y. Over the period under review, the import prices for spinach attained their maximum at $X per ton in 2014; however, from 2015 to 2018, import prices remained at a lower figure.

There were significant differences in the average import prices amongst the major importing countries. In 2018, the country with the highest import price was the Czech Republic ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of import prices was attained by the Czech Republic, while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform