Hungary: Breakfast Cereal Market 2022

Breakfast Cereal Market Size in Hungary

The Hungarian breakfast cereal market reached $X in 2021, surging by 12% against the previous year. Overall, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +20.6% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Breakfast Cereal Production in Hungary

In value terms, breakfast cereal production rose modestly to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 44% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Breakfast Cereal Exports

Exports from Hungary

In 2021, shipments abroad of breakfast cereals decreased by -3.8% to X tons for the first time since 2015, thus ending a five-year rising trend. Overall, exports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2014 when exports increased by 36%. The exports peaked at X tons in 2020, and then declined slightly in the following year.

In value terms, breakfast cereal exports rose slightly to $X in 2021. Over the period under review, exports, however, saw a prominent increase. The growth pace was the most rapid in 2013 when exports increased by 50%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons) was the main destination for breakfast cereal exports from Hungary, accounting for a 24% share of total exports. Moreover, breakfast cereal exports to Romania exceeded the volume sent to the second major destination, Italy (X tons), twofold. Serbia (X tons) ranked third in terms of total exports with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume to Romania amounted to +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+94.6% per year) and Serbia (+28.1% per year).

In value terms, the largest markets for breakfast cereal exported from Hungary were Romania ($X), Germany ($X) and Slovakia ($X), together accounting for 39% of total exports. Serbia, Croatia, the Czech Republic, Poland, Italy, Slovenia, Greece, Bulgaria, Denmark and Bosnia and Herzegovina lagged somewhat behind, together accounting for a further 48%.

Among the main countries of destination, Greece, with a CAGR of +96.3%, saw the highest growth rate of 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 breakfast cereal export price stood at $X per ton in 2021, picking up by 7.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. The pace of growth appeared the most rapid in 2013 an increase of 31% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Breakfast Cereal Imports

Imports into Hungary

Breakfast cereal imports into Hungary totaled X tons in 2021, surging by 3.1% compared with 2020. In general, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +105.1% against 2013 indices. The pace of growth appeared the most rapid in 2016 with an increase of 17% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, breakfast cereal imports expanded remarkably to $X in 2021. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +90.3% against 2013 indices. The growth pace was the most rapid in 2016 with an increase of 17% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Poland (X tons), Germany (X tons) and the Czech Republic (X tons) were the main suppliers of breakfast cereal imports to Hungary, together comprising 67% of total imports. These countries were followed by Turkey, Spain, Romania, Ukraine, Austria, Belgium, Slovakia, France and the Netherlands, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were in Ukraine (with a CAGR of +82.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Germany ($X) and the Czech Republic ($X) constituted the largest breakfast cereal suppliers to Hungary, with a combined 72% share of total imports. These countries were followed by Austria, Romania, France, Slovakia, the Netherlands, Spain, Belgium, Ukraine and Turkey, which together accounted for a further 21%.

Ukraine, with a CAGR of +69.3%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average breakfast cereal import price amounted to $X per ton, with an increase of 8.6% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was France ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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