Hungary: Market for Flours, Meals And Pellets Of Meat Or Meat Offal 2024

Market Size for Flours, Meals And Pellets Of Meat Or Meat Offal in Hungary

In 2021, the Hungarian meat meals and pellets market decreased by -17.8% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption saw a noticeable setback. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Flours, Meals And Pellets Of Meat Or Meat Offal in Hungary

In value terms, meat meals and pellets production surged to $X in 2021 estimated in export price. In general, production, however, recorded a deep contraction. The growth pace was the most rapid in 2018 with an increase of 415%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Flours, Meals And Pellets Of Meat Or Meat Offal

Exports from Hungary

In 2021, overseas shipments of flours, meals and pellets of meat or meat offal decreased by 0% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports posted significant growth. The growth pace was the most rapid in 2013 when exports increased by 107% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, meat meals and pellets exports stood at $X in 2021. Over the period under review, exports saw a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 151%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Germany (X tons), Slovakia (X tons) and Vietnam (X tons) were the main destinations of meat meals and pellets exports from Hungary, together comprising 44% of total exports. Greece, Italy, Nigeria, the Netherlands, Turkey, Serbia, Singapore, Lithuania, Thailand and the Czech Republic lagged somewhat behind, together comprising a further 50%.

From 2012 to 2021, the biggest increases were recorded for Lithuania (with a CAGR of +71.5%), while shipments for the other leaders experienced more modest paces of growth.

It was followed by Greece, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to +27.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+35.2% per year) and Greece (+22.1% per year).

Export Prices by Country

In 2021, the average meat meals and pellets export price amounted to $X per ton, leveling off at the previous year. In general, the export price enjoyed a pronounced expansion. The pace of growth appeared the most rapid in 2017 an increase of 24% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Lithuania ($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 Vietnam (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Meat Or Meat Offal

Imports into Hungary

In 2021, approx. X tons of flours, meals and pellets of meat or meat offal were imported into Hungary; growing by 40% against 2020. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, meat meals and pellets imports surged to $X in 2021. In general, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +82.8% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Austria (X tons), Slovakia (X tons) and Germany (X tons) were the main suppliers of meat meals and pellets imports to Hungary, with a combined 53% share of total imports. Slovenia, Belgium, the Czech Republic, Poland, Romania, the Netherlands and France lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +41.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest meat meals and pellets suppliers to Hungary were Slovakia ($X), Austria ($X) and Germany ($X), with a combined 49% share of total imports. These countries were followed by Slovenia, Belgium, Poland, the Netherlands, the Czech Republic, Romania and France, which together accounted for a further 37%.

The Czech Republic, with a CAGR of +40.6%, 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 meat meals and pellets import price stood at $X per ton in 2021, rising by 26% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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