Hungary: Market for Frozen Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Frozen Pig Meat Other Than Cuts Or Carcases in Hungary

The Hungarian market for frozen pig meat other than cuts or carcases reduced notably to $X in 2022, waning by -47.1% against the previous year. Overall, consumption faced a dramatic setback. Consumption of peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Frozen Pig Meat Other Than Cuts Or Carcases in Hungary

In value terms, production of frozen pig meat other than cuts or carcases fell remarkably to $X in 2022 estimated in export price. In general, production, however, saw tangible growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 89% against the previous year. Over the period under review, production of reached the peak level at $X in 2021, and then declined rapidly in the following year.

Exports of Frozen Pig Meat Other Than Cuts Or Carcases

Exports from Hungary

In 2022, after two years of growth, there was significant decline in overseas shipments of frozen pig meat other than cuts or carcases, when their volume decreased by -14.5% to X tons. Overall, exports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 21%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, exports of frozen pig meat other than cuts or carcases declined markedly to $X in 2022. In general, exports showed a deep downturn. The pace of growth was the most pronounced in 2021 when exports increased by 24% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons) was the main destination for exports of frozen pig meat other than cuts or carcases from Hungary, accounting for a 35% share of total exports. Moreover, exports of frozen pig meat other than cuts or carcases to Romania exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was held by Bulgaria (X tons), with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Romania totaled +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+330.8% per year) and Bulgaria (+0.4% per year).

In value terms, the largest markets for frozen pig meat other than cuts or carcases exported from Hungary were Romania ($X), the United States ($X) and Bulgaria ($X), together comprising 60% of total exports.

The United States, with a CAGR of +234.9%, recorded the highest growth rate of 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 export price for frozen pig meat other than cuts or carcases amounted to $X per ton, dropping by -1.5% against the previous year. Over the period under review, the export price recorded a pronounced reduction. The growth pace was the most rapid in 2020 an increase of 7.8% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Vietnam ($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 Vietnam (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Pig Meat Other Than Cuts Or Carcases

Imports into Hungary

Imports of frozen pig meat other than cuts or carcases into Hungary declined modestly to X tons in 2022, reducing by -4.4% compared with the previous year's figure. In general, imports continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2016 with an increase of 25%. Over the period under review, imports of attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of frozen pig meat other than cuts or carcases stood at $X in 2022. Overall, imports showed a abrupt setback. The pace of growth was the most pronounced in 2016 with an increase of 29%. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of frozen pig meat other than cuts or carcases to Hungary, with a 48% share of total imports. Moreover, imports of frozen pig meat other than cuts or carcases from Germany exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. Poland (X tons) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+4.7% per year) and Poland (-18.0% per year).

In value terms, Germany ($X) constituted the largest supplier of frozen pig meat other than cuts or carcases to Hungary, comprising 44% of total imports. The second position in the ranking was taken by Spain ($X), with an 18% share of total imports. It was followed by Poland, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+4.9% per year) and Poland (-23.7% per year).

Import Prices by Country

The average import price for frozen pig meat other than cuts or carcases stood at $X per ton in 2022, growing by 6.4% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2020 when the average import price increased by 13% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 Belgium ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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