Croatia: Umbrella Market 2024

Umbrella Market Size in Croatia

In 2022, the Croatian umbrella market increased by 35% to $X, rising for the second year in a row after two years of decline. In general, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +9.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +72.4% against 2020 indices. Umbrella consumption peaked in 2022 and is likely to see steady growth in the near future.

Umbrella Production in Croatia

In value terms, umbrella production contracted dramatically to $X in 2022 estimated in export price. Over the period under review, production posted a significant expansion. The most prominent rate of growth was recorded in 2021 when the production volume increased by 1,628% against the previous year. As a result, production attained the peak level of $X, and then declined notably in the following year.

Umbrella Exports

Exports from Croatia

Umbrella exports from Croatia reduced to X units in 2022, waning by -7% against the previous year's figure. In general, total exports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +11.8% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 34%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, umbrella exports expanded rapidly to $X in 2022. Overall, exports, however, showed moderate growth. The pace of growth appeared the most rapid in 2015 when exports increased by 34%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

France (X units), Germany (X units) and Austria (X units) were the main destinations of umbrella exports from Croatia, with a combined 42% share of total exports. Switzerland, Belgium, Italy, Slovenia, Greece, Bosnia and Herzegovina, Montenegro, Serbia, Bulgaria and Hungary lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +37.0%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Greece ($X) and Austria ($X) constituted the largest markets for umbrella exported from Croatia worldwide, with a combined 46% share of total exports. Belgium, France, Switzerland, Italy, Hungary, Bulgaria, Slovenia, Serbia, Montenegro and Bosnia and Herzegovina lagged somewhat behind, together accounting for a further 40%.

Hungary, with a CAGR of +76.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average umbrella export price amounted to $X per unit, picking up by 22% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 98% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($X per unit), while the average price for exports to Bosnia and Herzegovina ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+28.9%), while the prices for the other major destinations experienced more modest paces of growth.

Umbrella Imports

Imports into Croatia

In 2022, overseas purchases of umbrellas were finally on the rise to reach X units after three years of decline. The total import volume increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by 39% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, umbrella imports skyrocketed to $X in 2022. Overall, imports posted resilient growth. The growth pace was the most rapid in 2021 with an increase of 93%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of umbrella to Croatia, accounting for a 41% share of total imports. Moreover, umbrella imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was taken by Hungary (X units), with a 7.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+22.2% per year) and Hungary (+58.4% per year).

In value terms, Bosnia and Herzegovina ($X) constituted the largest supplier of umbrellas to Croatia, comprising 58% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by Germany, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Bosnia and Herzegovina totaled +30.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.3% per year) and Germany (+17.7% per year).

Import Prices by Country

In 2022, the average umbrella import price amounted to $X per unit, increasing by 8.8% against the previous year. Overall, the import price posted a resilient increase. The growth pace was the most rapid in 2021 when the average import price increased by 116%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Bosnia and Herzegovina ($X per unit), while the price for Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform