Hungary: Caramel Market 2022

Caramel Market Size in Hungary

In 2020, after two years of growth, there was significant decline in the Hungarian caramel market, when its value decreased by -X% to $X. In general, consumption showed a pronounced curtailment. The pace of growth appeared the most rapid in 2018 with an increase of X% y-o-y. Over the period under review, the market attained the peak level at $X in 2007; however, from 2008 to 2020, consumption failed to regain the momentum.

Caramel Production in Hungary

In value terms, caramel production dropped notably to $X in 2020 estimated in export prices. Over the period under review, production saw a deep contraction. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. Caramel production peaked at $X in 2007; however, from 2008 to 2020, production stood at a somewhat lower figure.

Caramel Exports

Exports from Hungary

In 2020, shipments abroad of caramel decreased by -X% to X tons for the first time since 2017, thus ending a two-year rising trend. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% y-o-y. Exports peaked at X tons in 2009; however, from 2010 to 2020, exports stood at a somewhat lower figure.

In value terms, caramel exports reduced rapidly to $X in 2020. Overall, exports posted perceptible growth. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, exports attained the peak figure at $X in 2019, and then fell markedly in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for caramel exports from Hungary, accounting for a X% share of total exports. Moreover, caramel exports to the Netherlands exceeded the volume sent to the second major destination, Switzerland (X tons), fourfold. The third position in this ranking was occupied by France (X tons), with a X% share.

From 2007 to 2020, the average annual growth rate of volume to the Netherlands amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+X% per year) and France (+X% per year).

In value terms, the Netherlands ($X) emerged as the key foreign market for caramel exports from Hungary, comprising X% of total exports. The second position in the ranking was occupied by Slovakia ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value to the Netherlands stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+X% per year) and Australia (X% per year).

Export Prices by Country

In 2020, the average caramel export price amounted to $X per ton, falling by -X% against the previous year. Over the period under review, the export price, however, enjoyed tangible growth. The pace of growth was the most pronounced in 2016 when the average export price increased by X% against the previous year. Over the period under review, average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2020, export prices failed to regain the momentum.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was Australia ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia, while the prices for the other major destinations experienced more modest paces of growth.

Caramel Imports

Imports into Hungary

In 2020, after two years of decline, there was significant growth in overseas purchases of caramel, when their volume increased by X% to X tons. Over the period under review, imports saw resilient growth. The pace of growth was the most pronounced in 2017 when imports increased by X% year-to-year. As a result, imports attained the peak of X tons. from 2018 to 2020, the growth imports remained at a lower figure.

In value terms, caramel imports skyrocketed to $X in 2020. In general, imports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2011 when imports increased by X% year-to-year. Imports peaked at $X in 2017; however, from 2018 to 2020, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and Austria (X tons) were the main suppliers of caramel imports to Hungary, together accounting for X% of total imports. These countries were followed by Slovakia, France, Germany, Poland and Turkey, which together accounted for a further X 2007 to 2020, the biggest increases were in Slovakia (+X% per year), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of caramel to Hungary, comprising X% of total imports. The second position in the ranking was occupied by Belgium ($X), with a X% share of total imports. It was followed by Slovakia, with a X% share.

From 2007 to 2020, the average annual growth rate of value from the Netherlands totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+X% per year) and Slovakia (+X% per year).

Import Prices by Country

In 2020, the average caramel import price amounted to $X per ton, dropping by -X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by X% y-o-y. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2020, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was the Netherlands ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Turkey, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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