Hungary: Modified Starches Market 2024

Modified Starches Market Size in Hungary

The Hungarian modified starches market expanded sharply to $X in 2022, rising by 5.7% against the previous year. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Modified Starches Production in Hungary

In value terms, modified starches production stood at $X in 2022 estimated in export price. Overall, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -12.3% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 64%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Modified Starches Exports

Exports from Hungary

In 2022, the amount of dextrins and other modified starches exported from Hungary skyrocketed to X tons, rising by 107% against 2021. In general, exports recorded perceptible growth. The growth pace was the most rapid in 2018 with an increase of 131% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, modified starches exports skyrocketed to $X in 2022. Overall, exports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2018 when exports increased by 95%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Slovakia (X tons) was the main destination for modified starches exports from Hungary, with a 46% share of total exports. Moreover, modified starches exports to Slovakia exceeded the volume sent to the second major destination, Romania (X tons), threefold. The third position in this ranking was held by France (X tons), with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume to Slovakia amounted to +94.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+8.3% per year) and France (+29.0% per year).

In value terms, Slovakia ($X) remains the key foreign market for dextrins and other modified starches exports from Hungary, comprising 46% of total exports. The second position in the ranking was taken by Romania ($X), with a 7% share of total exports. It was followed by France, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value to Slovakia amounted to +93.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+0.7% per year) and France (+33.6% per year).

Export Prices by Country

In 2022, the average modified starches export price amounted to $X per ton, falling by -22.5% against the previous year. In general, export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, modified starches export price decreased by -29.7% against 2020 indices. The pace of growth appeared the most rapid in 2020 an increase of 52% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Romania ($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 Spain (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into Hungary

In 2022, the amount of dextrins and other modified starches imported into Hungary dropped modestly to X tons, which is down by -4.6% on the year before. In general, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2017 when imports increased by 85% against the previous year. Imports peaked at X tons in 2021, and then dropped modestly in the following year.

In value terms, modified starches imports expanded sharply to $X in 2022. Overall, imports, however, saw a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of 46%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Belgium (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of modified starches imports to Hungary, together comprising 73% of total imports. Slovakia, Italy, Bulgaria, Denmark, Serbia, Austria, France and the UK lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +161.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Belgium ($X) were the largest modified starches suppliers to Hungary, together accounting for 68% of total imports. Slovakia, France, Italy, Denmark, Austria, Bulgaria, Serbia and the UK lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Bulgaria, with a CAGR of +151.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average modified starches import price stood at $X per ton in 2022, growing by 10% against the previous year. Overall, the import price, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2018 an increase of 13%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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