Hungary: Braces And Garters Market 2025

Braces And Garters Market Size in Hungary

In 2022, the Hungarian braces and garters market increased by 11% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption saw a remarkable increase. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Braces And Garters Production in Hungary

In value terms, braces and garters production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a precipitous curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 0.8% against the previous year. Braces and garters production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Braces And Garters Exports

Exports from Hungary

In 2022, after three years of growth, there was decline in overseas shipments of braces, suspenders and garters, when their volume decreased by -0.9% to X units. In general, exports saw a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 35% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, braces and garters exports shrank to $X in 2022. Over the period under review, exports recorded a sharp reduction. The most prominent rate of growth was recorded in 2019 when exports increased by 59%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units), Austria (X units) and Romania (X units) were the main destinations of braces and garters exports from Hungary, together accounting for 36% of total exports. Tunisia, Germany, Slovakia, Japan, Morocco, Serbia, Albania, Poland and Ukraine lagged somewhat behind, together comprising a further 47%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tunisia (with a CAGR of +104.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for braces and garters exported from Hungary were the United States ($X), Japan ($X) and Germany ($X), with a combined 40% share of total exports. These countries were followed by Tunisia, Romania, Albania, Austria, Morocco, Slovakia, Poland, Serbia and Ukraine, which together accounted for a further 40%.

Among the main countries of destination, Morocco, with a CAGR of +112.2%, 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

The average braces and garters export price stood at $X per unit in 2022, falling by -7.6% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 38% against the previous year. The export price peaked at $X per unit 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 foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Serbia ($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 Morocco (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Braces And Garters Imports

Imports into Hungary

In 2022, supplies from abroad of braces, suspenders and garters increased by 34% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a slight setback. The most prominent rate of growth was recorded in 2018 when imports increased by 36% against the previous year. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, braces and garters imports reduced to $X in 2022. In general, imports, however, continue to indicate a mild descent. The growth pace was the most rapid in 2018 when imports increased by 40% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of braces and garters to Hungary, accounting for a 63% share of total imports. Moreover, braces and garters imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), fourfold. Austria (X units) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.4% per year) and Austria (+33.2% per year).

In value terms, Germany ($X) constituted the largest supplier of braces, suspenders and garters to Hungary, comprising 63% of total imports. The second position in the ranking was held by Austria ($X), with a 12% share of total imports. It was followed by China, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+36.8% per year) and China (+10.8% per year).

Import Prices by Country

In 2022, the average braces and garters import price amounted to $X per unit, declining by -26.5% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 30% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2018; however, from 2019 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 ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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