Hungary: Cream Fresh Market 2024

Cream Fresh Market Size in Hungary

The Hungarian cream fresh market contracted rapidly to $X in 2022, reducing by -34.9% against the previous year. In general, consumption recorded a abrupt decline. Cream fresh consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Cream Fresh Production in Hungary

In value terms, cream fresh production declined markedly to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the production volume increased by 221%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Cream Fresh Exports

Exports from Hungary

In 2022, approx. X tons of cream fresh were exported from Hungary; picking up by 8.7% on the previous year. Overall, exports recorded significant growth. The pace of growth was the most pronounced in 2013 when exports increased by 202%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, cream fresh exports soared to $X in 2022. In general, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 288% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Italy (X tons), Bosnia and Herzegovina (X tons) and Poland (X tons) were the main destinations of cream fresh exports from Hungary, together accounting for 60% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +65.4%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Bosnia and Herzegovina ($X) and Poland ($X) were the largest markets for cream fresh exported from Hungary worldwide, together comprising 61% of total exports.

In terms of the main countries of destination, Italy, with a CAGR of +76.2%, recorded 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 cream fresh export price stood at $X per ton in 2022, rising by 39% against the previous year. In general, export price indicated buoyant 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, cream fresh export price increased by +72.4% against 2019 indices. The growth pace was the most rapid in 2017 an increase of 57% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Italy ($X per ton) and Serbia ($X per ton), while the average price for exports to Slovakia ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cream Fresh Imports

Imports into Hungary

In 2022, supplies from abroad of cream fresh decreased by -18.5% to X tons, falling for the second consecutive year after four years of growth. Overall, total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -22.1% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 15% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, cream fresh imports fell to $X in 2022. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +1.3% against 2018 indices. The pace of growth was the most pronounced in 2017 with an increase of 44%. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced in the following year.

Imports by Country

Germany (X tons), Poland (X tons) and Italy (X tons) were the main suppliers of cream fresh imports to Hungary, together accounting for 67% of total imports. Slovakia, the Netherlands, Austria, the Czech Republic and Belgium lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +22.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Poland ($X) and Italy ($X) appeared to be the largest cream fresh suppliers to Hungary, with a combined 69% share of total imports.

Italy, with a CAGR of +20.0%, recorded 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 cream fresh import price stood at $X per ton in 2022, with an increase of 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The pace of growth was the most pronounced in 2017 an increase of 27% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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