Croatia: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in Croatia

The Croatian food manufacture machinery market contracted sharply to $X in 2021, which is down by -68.7% against the previous year. Over the period under review, consumption showed a abrupt slump. Food manufacture machinery consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Food Manufacture Machinery Production in Croatia

In value terms, food manufacture machinery production fell rapidly to $X in 2021 estimated in export price. In general, production showed a precipitous decline. The most prominent rate of growth was recorded in 2014 with an increase of 146%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Food Manufacture Machinery Exports

Exports from Croatia

In 2021, overseas shipments of machinery for the preparation or manufacture of food or drink were finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports continue to indicate a noticeable expansion. The growth pace was the most rapid in 2013 with an increase of 328%. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, food manufacture machinery exports skyrocketed to $X in 2021. Overall, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 809%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bosnia and Herzegovina (X units) was the main destination for food manufacture machinery exports from Croatia, accounting for a 34% share of total exports. Moreover, food manufacture machinery exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Iran (X units), threefold. Serbia (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Bosnia and Herzegovina stood at +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+694.1% per year) and Serbia (-1.0% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for machinery for the preparation or manufacture of food or drink exports from Croatia, comprising 35% of total exports. The second position in the ranking was taken by Iran ($X), with a 13% share of total exports. It was followed by Montenegro, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Bosnia and Herzegovina stood at +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+666.1% per year) and Montenegro (+26.8% per year).

Export Prices by Country

The average food manufacture machinery export price stood at $X per unit in 2021, shrinking by -11.4% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, food manufacture machinery export price increased by +50.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 112% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2020, and then declined in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Montenegro ($X per unit), while the average price for exports to Estonia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Food Manufacture Machinery Imports

Imports into Croatia

After two years of decline, overseas purchases of machinery for the preparation or manufacture of food or drink increased by 158% to X units in 2021. Overall, imports showed measured growth. Imports peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, food manufacture machinery imports skyrocketed to $X in 2021. Over the period under review, imports recorded a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Italy (X units) constituted the largest food manufacture machinery supplier to Croatia, with a 30% share of total imports. Moreover, food manufacture machinery imports from Italy exceeded the figures recorded by the second-largest supplier, Spain (X units), twofold. China (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy amounted to +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+0.3% per year) and China (+15.2% per year).

In value terms, the largest food manufacture machinery suppliers to Croatia were Italy ($X), Germany ($X) and Spain ($X), together accounting for 44% of total imports. China, Austria, Bosnia and Herzegovina, the UK, Turkey and Slovenia lagged somewhat behind, together comprising a further 27%.

In terms of the main suppliers, the UK, with a CAGR of +46.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average food manufacture machinery import price amounted to $X per unit, with an increase of 17% against the previous year. Overall, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, food manufacture machinery import price increased by +44.4% against 2018 indices. The pace of growth was the most pronounced in 2016 when the average import price increased by 73%. As a result, import price attained the peak level of $X per unit. From 2017 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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