Hungary: Market for Bone Glues and Gelatin 2024

Market Size for Bone Glues and Gelatin in Hungary

The Hungarian bone glue and gelatin market declined remarkably to $X in 2022, falling by -26.9% 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, consumption, however, showed a buoyant increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Exports of Bone Glues and Gelatin

Exports from Hungary

In 2022, shipments abroad of bone glues and gelatin increased by 28% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, bone glue and gelatin exports contracted to $X in 2022. In general, exports, however, continue to indicate a pronounced decline. The pace of growth appeared the most rapid in 2016 when exports increased by 14%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Bulgaria (X tons) was the main destination for bone glue and gelatin exports from Hungary, with a 39% share of total exports. Moreover, bone glue and gelatin exports to Bulgaria exceeded the volume sent to the second major destination, the UK (X tons), twofold. Poland (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Bulgaria totaled +53.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-6.9% per year) and Poland (+3.5% per year).

In value terms, the UK ($X), Poland ($X) and Bulgaria ($X) appeared to be the largest markets for bone glue and gelatin exported from Hungary worldwide, together accounting for 61% of total exports. Denmark, Croatia, Slovenia and Australia lagged somewhat behind, together comprising a further 30%.

Australia, with a CAGR of +325.5%, recorded the highest growth rate of the value of exports, among 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 bone glue and gelatin export price amounted to $X per ton, with a decrease of -28.3% against the previous year. Overall, the export price continues to indicate a deep contraction. The growth pace was the most rapid in 2018 when the average export price increased by 9.8% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 Poland ($X per ton), while the average price for exports to Australia ($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 Australia (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bone Glues and Gelatin

Imports into Hungary

In 2022, the amount of bone glues and gelatin imported into Hungary fell rapidly to X tons, waning by -32.1% against 2021. Overall, imports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2020 when imports increased by 307%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, bone glue and gelatin imports fell remarkably to $X in 2022. In general, imports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 132%. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted sharply in the following year.

Imports by Country

Belgium (X tons), the Netherlands (X tons) and Sweden (X tons) were the main suppliers of bone glue and gelatin imports to Hungary, together accounting for 62% of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +36.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), the Netherlands ($X) and Germany ($X) constituted the largest bone glue and gelatin suppliers to Hungary, together comprising 63% of total imports.

Belgium, with a CAGR of +39.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average bone glue and gelatin import price stood at $X per ton in 2022, with an increase of 19% against the previous year. Over the period under review, the import price, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 38% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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