Eastern Europe: Glucose Market 2024

Glucose Market Size in Eastern Europe

In 2021, the East European glucose market increased by 10% to $X, rising for the second year in a row after seven years of decline. Over the period under review, consumption showed a drastic downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Glucose Production in Eastern Europe

In value terms, glucose production totaled less than $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern.

Glucose Exports

Exports in Eastern Europe

Glucose exports was estimated at X tons in 2021, surging by 4.5% against the year before. The total export volume increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 12% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, glucose exports skyrocketed to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Hungary was the major exporting country with an export of around X tons, which reached 40% of total exports. Slovakia (X tons) ranks second in terms of the total exports with a 16% share, followed by Bulgaria (14%), Lithuania (13%) and Poland (7.8%). The following exporters - Russia (X tons) and Ukraine (X tons) - each reached a 7.6% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to glucose exports from Hungary stood at +5.1%. At the same time, Lithuania (+33.0%), Russia (+15.9%), Poland (+5.5%), Ukraine (+4.4%) and Bulgaria (+4.4%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +33.0% from 2012-2021. By contrast, Slovakia (-2.4%) illustrated a downward trend over the same period. While the share of Lithuania (+12 p.p.), Russia (+2.4 p.p.) and Hungary (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Slovakia (-14.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hungary ($X), Bulgaria ($X) and Slovakia ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 69% share of total exports. Lithuania, Poland, Russia and Ukraine lagged somewhat behind, together accounting for a further 28%.

Lithuania, with a CAGR of +21.2%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, surging by 12% against the previous year. Over the period under review, the export price, however, saw a pronounced curtailment. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+0.3%), while the other leaders experienced a decline in the export price figures.

Glucose Imports

Imports in Eastern Europe

In 2021, purchases abroad of glucose and glucose syrup increased by 21% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, glucose imports soared to $X in 2021. Overall, imports, however, continue to indicate a perceptible decrease. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Poland (X tons) and the Czech Republic (X tons) were the largest importers of glucose and glucose syrup in Eastern Europe, together generating 66% of total imports. Romania (X tons) ranks next in terms of the total imports with a 7.2% share, followed by Slovakia (6.4%) and Russia (5.8%). The following importers - Ukraine (X tons), Belarus (X tons) and Bulgaria (X tons) - together made up 8.4% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Ukraine (with a CAGR of +12.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glucose importing markets in Eastern Europe were Poland ($X), the Czech Republic ($X) and Russia ($X), together accounting for 70% of total imports. These countries were followed by Romania, Slovakia, Ukraine, Belarus and Bulgaria, which together accounted for a further 22%.

In terms of the main importing countries, Ukraine, with a CAGR of +9.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, growing by 7.1% against the previous year. In general, the import price, however, showed a pronounced downturn. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Russia ($X per ton), while Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+2.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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