Hungary: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Hungary

In 2021, the Hungarian market for colouring matter of vegetable or animal origin increased by 3.2% to $X, rising for the second year in a row after two years of decline. In general, the total consumption indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% 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 +11.2% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports from Hungary

For the fourth consecutive year, Hungary recorded growth in shipments abroad of colouring matter of vegetable or animal origin, which increased by 2.5% to X tons in 2021. In general, exports posted a significant increase. The growth pace was the most rapid in 2014 when exports increased by 108% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, vegetable or animal colouring matter exports rose to $X in 2021. Over the period under review, exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of 131% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Serbia (X tons), Romania (X tons) and Iraq (X tons) were the main destinations of vegetable or animal colouring matter exports from Hungary, together comprising 88% 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 Serbia (with a CAGR of +59.7%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Serbia ($X) and Slovenia ($X) were the largest markets for vegetable or animal colouring matter exported from Hungary worldwide, with a combined 87% share of total exports.

Among the main countries of destination, Serbia, with a CAGR of +57.6%, 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

In 2021, the average export price for colouring matter of vegetable or animal origin amounted to $X per ton, flattening at the previous year. In general, the export price saw a perceptible reduction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 18% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Iraq ($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 Croatia (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports into Hungary

In 2021, imports of colouring matter of vegetable or animal origin into Hungary fell to X tons, which is down by -6.6% on the previous year's figure. The total import volume increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 18%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, vegetable or animal colouring matter imports reached $X in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% 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 +17.9% against 2019 indices. The pace of growth was the most pronounced in 2016 when imports increased by 39% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Italy (X tons) and the Netherlands (X tons) were the main suppliers of vegetable or animal colouring matter imports to Hungary, with a combined 53% share of total imports. Spain, France, Poland, Peru, Romania, Austria, India, Slovenia and the UK lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +42.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of colouring matter of vegetable or animal origin to Hungary, comprising 42% of total imports. The second position in the ranking was held by Italy ($X), with a 13% share of total imports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+19.6% per year) and the Netherlands (+2.9% per year).

Import Prices by Country

The average import price for colouring matter of vegetable or animal origin stood at $X per ton in 2021, growing by 16% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.1%. The pace of growth was the most pronounced in 2016 an increase of 35%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :