Hungary: Twig Broom Market 2024

Twig Broom Market Size in Hungary

In 2021, the Hungarian twig broom market decreased by -7.9% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption saw buoyant growth. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Twig Broom Production in Hungary

In value terms, twig broom production stood at $X in 2021 estimated in export price. Over the period under review, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -22.9% against 2017 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 177%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Twig Broom Exports

Exports from Hungary

For the third consecutive year, Hungary recorded decline in shipments abroad of brooms and brushes of twigs, which decreased by -3.7% to X units in 2021. Overall, exports faced a abrupt descent. The growth pace was the most rapid in 2018 when exports increased by 29% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, twig broom exports declined rapidly to $X in 2021. In general, exports continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2018 with an increase of 28% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Slovakia (X units), Switzerland (X units) and Moldova (X units) were the main destinations of twig broom exports from Hungary, together comprising 82% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Moldova (with a CAGR of +3,017.7%), while the other leaders experienced mixed trend patterns.

In value terms, Switzerland ($X), Slovakia ($X) and Ukraine ($X) appeared to be the largest markets for twig broom exported from Hungary worldwide, with a combined 90% share of total exports. These countries were followed by Romania, Austria, Moldova, Iraq, Germany, France and Italy, which together accounted for a further 8.1%.

Moldova, with a CAGR of +828.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average twig broom export price stood at $X per unit in 2021, dropping by -37.2% against the previous year. Overall, the export price saw a abrupt slump. The most prominent rate of growth was recorded in 2013 an increase of 5.8%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Moldova ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+1.0%), while the prices for the other major destinations experienced a decline.

Twig Broom Imports

Imports into Hungary

Twig broom imports into Hungary surged to X units in 2021, jumping by 53% on 2020. Overall, imports posted prominent growth. The growth pace was the most rapid in 2013 when imports increased by 123%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, twig broom imports expanded to $X in 2021. Over the period under review, imports, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2013 when imports increased by 58%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Italy (X units) constituted the largest twig broom supplier to Hungary, accounting for a 46% share of total imports. Moreover, twig broom imports from Italy exceeded the figures recorded by the second-largest supplier, Serbia (X units), fourfold. China (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Italy totaled +44.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Serbia (-2.9% per year) and China (+20.9% per year).

In value terms, the largest twig broom suppliers to Hungary were Italy ($X), Serbia ($X) and Germany ($X), with a combined 63% share of total imports. These countries were followed by Poland, Slovakia, China and Sweden, which together accounted for a further 26%.

Slovakia, with a CAGR of +36.2%, 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 twig broom import price stood at $X per unit in 2021, dropping by -33.6% against the previous year. In general, the import price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2018 an increase of 87% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Slovakia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (-4.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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