Hungary: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Hungary

In 2022, the Hungarian frozen fish and seafood market increased by X% to $X, rising for the sixth consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Frozen fish and seafood consumption peaked in 2022 and is likely to see steady growth in the near future.

Production of Frozen Fish And Seafood in Hungary

In value terms, frozen fish and seafood production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% 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 2014 with an increase of X%. Frozen fish and seafood production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Frozen Fish And Seafood

Exports from Hungary

In 2022, shipments abroad of frozen fish and seafood increased by X% to X tons, rising for the second consecutive year after five years of decline. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen fish and seafood exports soared to $X in 2022. Over the period under review, exports showed a mild increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Austria (X tons), Slovakia (X tons) and Italy (X tons) were the main destinations of frozen fish and seafood exports from Hungary, together accounting for X% of total exports. Romania, Serbia, Lithuania, Croatia, Slovenia, Germany and the Netherlands lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lithuania (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for frozen fish and seafood exported from Hungary were Austria ($X), Slovakia ($X) and Romania ($X), together accounting for X% of total exports. Italy, Croatia, Lithuania, Slovenia, Serbia, Germany and the Netherlands lagged somewhat behind, together accounting for a further X%.

Lithuania, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the average frozen fish and seafood export price amounted to $X per ton, remaining constant against the previous year. In general, export price indicated a temperate 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, frozen fish and seafood export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

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

Imports of Frozen Fish And Seafood

Imports into Hungary

For the third consecutive year, Hungary recorded growth in purchases abroad of frozen fish and seafood, which increased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, frozen fish and seafood imports stood at $X in 2022. Over the period under review, total imports indicated strong 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of frozen fish and seafood to Hungary, accounting for a X% share of total imports. Moreover, frozen fish and seafood imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was taken by Poland (X tons), with an X% share.

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

In value terms, the largest frozen fish and seafood suppliers to Hungary were Spain ($X), the Netherlands ($X) and Poland ($X), together accounting for X% of total imports. Denmark, Slovakia, Sweden, Slovenia, Germany, France, Croatia, Ukraine, Vietnam and China lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Croatia, with a CAGR of X%, 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 frozen fish and seafood import price stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2016 an increase of X% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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 Sweden ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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