Hungary: Market for Condensed Or Evaporated Milk (Sweetened) 2024

Market Size for Condensed Or Evaporated Milk (Sweetened) in Hungary

For the third consecutive year, the Hungarian market for condensed or evaporated milk (sweetened) recorded growth in sales value, which increased by 18% to $X in 2022. Overall, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +23.0% against 2018 indices. Sweetened condensed and evaporated milk consumption peaked in 2022 and is likely to continue growth in the immediate term.

Production of Condensed Or Evaporated Milk (Sweetened) in Hungary

In value terms, sweetened condensed and evaporated milk production expanded modestly to $X in 2022 estimated in export price. Overall, production saw prominent growth. The pace of growth appeared the most rapid in 2016 with an increase of 21%. Sweetened condensed and evaporated milk production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Hungary

Sweetened condensed and evaporated milk exports from Hungary soared to X tons in 2022, growing by 86% compared with the previous year. Overall, exports enjoyed a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 234%. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk exports surged to $X in 2022. In general, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of 233%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Croatia (X tons), Romania (X tons) and Slovakia (X tons) were the main destinations of sweetened condensed and evaporated milk exports from Hungary, together accounting for 88% of total exports.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of +76.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Croatia ($X), Romania ($X) and Slovakia ($X) appeared to be the largest markets for sweetened condensed and evaporated milk exported from Hungary worldwide, with a combined 88% share of total exports.

Croatia, with a CAGR of +105.7%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, rising by 20% against the previous year. Overall, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sweetened condensed and evaporated milk export price increased by +54.2% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 51% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Croatia (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Hungary

For the third year in a row, Hungary recorded growth in purchases abroad of condensed or evaporated milk (sweetened), which increased by 15% to X tons in 2022. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 40%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, sweetened condensed and evaporated milk imports soared to $X in 2022. In general, imports saw prominent growth. The growth pace was the most rapid in 2016 when imports increased by 42% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest sweetened condensed and evaporated milk supplier to Hungary, with a 75% share of total imports. Moreover, sweetened condensed and evaporated milk imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Poland (X tons), sevenfold. The third position in this ranking was held by Slovakia (X tons), with a 9% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands stood at +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-12.8% per year) and Slovakia (+6.4% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of condensed or evaporated milk (sweetened) to Hungary, comprising 83% of total imports. The second position in the ranking was taken by Slovakia ($X), with an 8.8% share of total imports. It was followed by Poland, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands totaled +28.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+6.8% per year) and Poland (-13.6% per year).

Import Prices by Country

The average import price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, increasing by 5.8% against the previous year. Over the period under review, import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sweetened condensed and evaporated milk import price increased by +15.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 37% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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