Hungary: Market for Buttermilk And Buttermilk Powder 2024

Market Size for Buttermilk And Buttermilk Powder in Hungary

In 2022, the Hungarian buttermilk and buttermilk powder market decreased by -8.3% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then reduced in the following year.

Production of Buttermilk And Buttermilk Powder in Hungary

In value terms, buttermilk and buttermilk powder production shrank to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 110% against the previous year. Buttermilk and buttermilk powder production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Buttermilk And Buttermilk Powder

Exports from Hungary

In 2022, overseas shipments of buttermilk and buttermilk powder were finally on the rise to reach X tons after two years of decline. Over the period under review, exports showed a strong increase. The pace of growth was the most pronounced in 2017 when exports increased by 140%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, buttermilk and buttermilk powder exports soared to $X in 2022. In general, exports recorded a buoyant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 206% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Romania (X tons) was the main destination for buttermilk and buttermilk powder exports from Hungary, accounting for a 93% share of total exports. It was followed by Croatia (X tons), with a 3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Romania stood at +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (+35.2% per year) and Slovakia (+6.7% per year).

In value terms, Romania ($X) remains the key foreign market for buttermilk and buttermilk powder exports from Hungary, comprising 94% of total exports. The second position in the ranking was held by Slovakia ($X), with a 2.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Romania totaled +13.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+10.4% per year) and Croatia (+39.8% per year).

Export Prices by Country

The average buttermilk and buttermilk powder export price stood at $X per ton in 2022, jumping by 18% against the previous year. In general, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, buttermilk and buttermilk powder export price increased by +22.5% against 2018 indices. The most prominent rate of growth was recorded in 2017 an increase of 27%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Croatia ($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 Romania (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Buttermilk And Buttermilk Powder

Imports into Hungary

In 2022, purchases abroad of buttermilk and buttermilk powder decreased by -10.1% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 18% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, buttermilk and buttermilk powder imports reduced to $X in 2022. The total import value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 20% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Poland (X tons), Germany (X tons) and Austria (X tons) were the main suppliers of buttermilk and buttermilk powder imports to Hungary, together accounting for 94% of total imports. Romania, Slovakia and Belgium lagged somewhat behind, together accounting for a further 5%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +53.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest buttermilk and buttermilk powder suppliers to Hungary were Poland ($X), Germany ($X) and Austria ($X), together comprising 94% of total imports. Romania, Slovakia and Belgium lagged somewhat behind, together accounting for a further 3.5%.

Slovakia, with a CAGR of +49.6%, saw 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 buttermilk and buttermilk powder import price stood at $X per ton in 2022, rising by 2.6% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 12% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 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 Germany ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+0.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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