Hungary: Bacon And Ham Market 2024

Bacon And Ham Market Size in Hungary

In 2022, the Hungarian bacon and ham market decreased by -59.2% to $X, falling for the third year in a row after three years of growth. Overall, consumption continues to indicate a significant curtailment. Bacon and ham consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Bacon And Ham Production in Hungary

In value terms, bacon and ham production declined markedly to $X in 2022 estimated in export price. Over the period under review, production showed a precipitous decline. The most prominent rate of growth was recorded in 2018 with an increase of 31% against the previous year. Bacon and ham production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Bacon And Ham Exports

Exports from Hungary

In 2022, the amount of bacon, ham and other dried, salted or smoked pig meat exported from Hungary surged to X tons, rising by 29% on the previous year's figure. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 46%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, bacon and ham exports rose markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 36% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons), Romania (X tons) and Austria (X tons) were the main destinations of bacon and ham exports from Hungary, together accounting for 64% of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +37.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bacon and ham exported from Hungary were Germany ($X), Romania ($X) and Austria ($X), with a combined 60% share of total exports.

Among the main countries of destination, Germany, with a CAGR of +35.8%, recorded the highest rates of growth with regard to the value of exports, 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 bacon and ham export price amounted to $X per ton, declining by -11.1% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 22%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Bacon And Ham Imports

Imports into Hungary

In 2022, overseas purchases of bacon, ham and other dried, salted or smoked pig meat decreased by -14% to X tons, falling for the second year in a row after three years of growth. Overall, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2020 when imports increased by 38%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, bacon and ham imports declined to $X in 2022. In general, imports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of 26% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest bacon and ham supplier to Hungary, accounting for a 46% share of total imports. Moreover, bacon and ham imports from Germany exceeded the figures recorded by the second-largest supplier, Slovakia (X tons), threefold. Spain (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+18.4% per year) and Spain (+48.4% per year).

In value terms, Germany ($X) constituted the largest supplier of bacon, ham and other dried, salted or smoked pig meat to Hungary, comprising 45% of total imports. The second position in the ranking was held by Italy ($X), with a 17% share of total imports. It was followed by Spain, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+16.7% per year) and Spain (+42.4% per year).

Import Prices by Country

The average bacon and ham import price stood at $X per ton in 2022, growing by 9.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2013 an increase of 21% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+29.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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