Hungary: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in Hungary

The Hungarian frozen fish fillet market rose sharply to $X in 2022, increasing by 8.5% against the previous year. The market value increased at an average annual rate of +4.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Frozen fish fillet consumption peaked in 2022 and is expected to retain growth in the immediate term.

Frozen Fish Fillet Production in Hungary

In value terms, frozen fish fillet production reduced slightly to $X in 2022 estimated in export price. In general, production, however, showed a abrupt slump. The growth pace was the most rapid in 2021 when the production volume increased by 0.2%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Frozen Fish Fillet Exports

Exports from Hungary

In 2022, overseas shipments of frozen fish fillet increased by 32% to X tons, rising for the second consecutive year after six years of decline. Overall, exports, however, continue to indicate a perceptible decrease. The pace of growth was the most pronounced in 2021 with an increase of 141% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, frozen fish fillet exports surged to $X in 2022. In general, exports, however, recorded a slight setback. The pace of growth appeared the most rapid in 2021 when exports increased by 264%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Austria (X tons), Slovakia (X tons) and Serbia (X tons) were the main destinations of frozen fish fillet exports from Hungary, with a combined 60% share of total exports. Lithuania, Romania, Croatia, Bulgaria, Slovenia, the Netherlands and Germany lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +139.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Slovakia ($X) and Romania ($X) constituted the largest markets for frozen fish fillet exported from Hungary worldwide, with a combined 68% share of total exports. Croatia, Lithuania, Serbia, Bulgaria, Slovenia, the Netherlands and Germany lagged somewhat behind, together accounting for a further 31%.

Lithuania, with a CAGR of +148.2%, recorded 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

The average frozen fish fillet export price stood at $X per ton in 2022, increasing by 15% against the previous year. Over the period under review, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen fish fillet export price increased by +73.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 51% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Serbia ($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 Croatia (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Fillet Imports

Imports into Hungary

In 2022, imports of frozen fish fillet into Hungary dropped to X tons, declining by -3.2% on 2021. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 17% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish fillet imports expanded sharply to $X in 2022. The total import value increased at an average annual rate of +4.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 29%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

Poland (X tons), the Netherlands (X tons) and Slovenia (X tons) were the main suppliers of frozen fish fillet imports to Hungary, together accounting for 43% of total imports. Slovakia, Denmark, Vietnam, Spain, Germany, Sweden, Hong Kong SAR, China, Croatia and Belgium lagged somewhat behind, together accounting for a further 47%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +73.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish fillet suppliers to Hungary were the Netherlands ($X), Poland ($X) and Sweden ($X), together comprising 40% of total imports.

Sweden, with a CAGR of +71.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average frozen fish fillet import price amounted to $X per ton, increasing by 16% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen fish fillet import price increased by +54.3% against 2014 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Vietnam ($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 (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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