Hungary: Market for Dried Or Smoked Fish 2024

Market Size for Dried Or Smoked Fish in Hungary

The Hungarian dried or smoked fish market soared to $X in 2021, surging by 20% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption posted a prominent increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Exports of Dried Or Smoked Fish

Exports from Hungary

In 2021, overseas shipments of dried or smoked fish decreased by -54.1% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, exports, however, recorded resilient growth. The growth pace was the most rapid in 2013 when exports increased by 372%. Over the period under review, the exports hit record highs at X tons in 2020, and then fell remarkably in the following year.

In value terms, dried or smoked fish exports shrank to $X in 2021. Over the period under review, exports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 252%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Croatia (X tons), Romania (X tons) and Austria (X tons) were the main destinations of dried or smoked fish exports from Hungary, together comprising 81% 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 Croatia (with a CAGR of +32.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for dried or smoked fish exported from Hungary were Croatia ($X), Romania ($X) and Austria ($X), with a combined 83% share of total exports.

Croatia, with a CAGR of +42.0%, 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 dried or smoked fish export price stood at $X per ton in 2021, surging by 88% against the previous year. Over the period under review, export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Norway ($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 Bulgaria (+15.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Dried Or Smoked Fish

Imports into Hungary

Dried or smoked fish imports into Hungary rose significantly to X tons in 2021, growing by 12% on the year before. In general, imports saw a buoyant increase. The growth pace was the most rapid in 2013 when imports increased by 48% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, dried or smoked fish imports soared to $X in 2021. Overall, imports showed a strong increase. The growth pace was the most rapid in 2014 with an increase of 44% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of dried or smoked fish to Hungary, with a 43% share of total imports. Moreover, dried or smoked fish imports from Germany exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), twofold. The third position in this ranking was taken by Poland (X tons), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+16.0% per year) and Poland (+1.1% per year).

In value terms, Germany ($X) constituted the largest supplier of dried or smoked fish to Hungary, comprising 46% of total imports. The second position in the ranking was taken by Lithuania ($X), with an 18% share of total imports. It was followed by Poland, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+15.9% per year) and Poland (+6.3% per year).

Import Prices by Country

In 2021, the average dried or smoked fish import price amounted to $X per ton, growing by 3.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2020 when the average import price increased by 18%. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Denmark ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+23.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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