Hungary: Dairy Produce Market 2024

Dairy Produce Market Size in Hungary

In 2022, the Hungarian dairy produce market increased by X% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption saw a relatively flat trend pattern. Dairy produce consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Dairy Produce Production in Hungary

In value terms, dairy produce production expanded notably to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a slight setback. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Dairy produce production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Dairy Produce Exports

Exports from Hungary

In 2022, after two years of growth, there was decline in overseas shipments of dairy produce, when their volume decreased by X% to X tons. Overall, exports saw a slight curtailment. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, dairy produce exports skyrocketed to $X in 2022. Over the period under review, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Romania (X tons) was the main destination for dairy produce exports from Hungary, with a X% share of total exports. Moreover, dairy produce exports to Romania exceeded the volume sent to the second major destination, Croatia (X tons), threefold. The third position in this ranking was held by Italy (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Romania stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (X% per year) and Italy (X% per year).

In value terms, the largest markets for dairy produce exported from Hungary were Romania ($X), Italy ($X) and Croatia ($X), together accounting for X% of total exports. Germany, Serbia, Poland, Slovakia, Bosnia and Herzegovina, the Netherlands, Bulgaria, Greece and Slovenia lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Serbia, with a CAGR of X%, 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 dairy produce export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy produce export price increased by X% against 2015 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Slovenia ($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 Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Dairy Produce Imports

Imports into Hungary

In 2022, overseas purchases of dairy produce decreased by X% to X tons, falling for the fourth year in a row after two years of growth. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, dairy produce imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), Poland (X tons) and Slovakia (X tons) were the main suppliers of dairy produce imports to Hungary, with a combined X% share of total imports. The Czech Republic, Romania, Austria, the Netherlands and Italy lagged somewhat behind, together comprising a further X%.

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

In value terms, Germany ($X) constituted the largest supplier of dairy produce to Hungary, comprising X% of total imports. The second position in the ranking was taken by Poland ($X), with a X% share of total imports. It was followed by the Netherlands, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and the Netherlands (X% per year).

Import Prices by Country

The average dairy produce import price stood at $X per ton in 2022, surging by X% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy produce import price increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

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

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

Source: IndexBox Platform

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