Hungary: Market for Prepared Dishes And Meals 2024

Market Size for Prepared Dishes And Meals in Hungary

In 2021, after three years of growth, there was significant decline in the Hungarian prepared dish and meal market, when its value decreased by -8.7% to $X. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Prepared dish and meal consumption peaked at $X in 2020, and then dropped in the following year.

Production of Prepared Dishes And Meals in Hungary

In value terms, prepared dish and meal production shrank markedly to $X in 2021 estimated in export price. Overall, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +36.8% against 2018 indices. The pace of growth appeared the most rapid in 2020 with an increase of 59%. As a result, production attained the peak level of $X, and then plummeted in the following year.

Exports of Prepared Dishes And Meals

Exports from Hungary

In 2021, approx. X tons of prepared dishes and meals were exported from Hungary; with an increase of 7.7% compared with the year before. In general, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +76.3% against 2013 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 24%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, prepared dish and meal exports expanded rapidly to $X in 2021. Overall, exports showed prominent growth. The pace of growth was the most pronounced in 2014 when exports increased by 28% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons), Iraq (X tons) and Slovakia (X tons) were the main destinations of prepared dish and meal exports from Hungary, with a combined 33% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iraq (with a CAGR of +69.0%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Germany ($X) and Italy ($X) were the largest markets for prepared dish and meal exported from Hungary worldwide, with a combined 25% share of total exports. These countries were followed by the UK, Poland, Iraq, Slovakia, Serbia, Russia, France, Austria, Saudi Arabia and Croatia, which together accounted for a further 44%.

In terms of the main countries of destination, Iraq, with a CAGR of +71.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average prepared dish and meal export price stood at $X per ton in 2021, remaining constant against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2014 an increase of 17% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Saudi Arabia ($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 Germany (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Dishes And Meals

Imports into Hungary

In 2021, supplies from abroad of prepared dishes and meals increased by 20% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +4.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, prepared dish and meal imports soared to $X in 2021. The total import value increased at an average annual rate of +6.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 19% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

Germany (X tons), Poland (X tons) and the Netherlands (X tons) were the main suppliers of prepared dish and meal imports to Hungary, together comprising 44% of total imports. These countries were followed by Malaysia, Austria, Slovakia, Italy, Cyprus, the Czech Republic, France, Belgium, Spain and Sweden, which together accounted for a further 48%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +33.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest prepared dish and meal suppliers to Hungary were Germany ($X), the Netherlands ($X) and Poland ($X), with a combined 45% share of total imports. Cyprus, Austria, France, Italy, Slovakia, the Czech Republic, Malaysia, Belgium, Sweden and Spain lagged somewhat behind, together comprising a further 41%.

Among the main suppliers, Sweden, with a CAGR of +31.1%, 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

In 2021, the average prepared dish and meal import price amounted to $X per ton, falling by -2.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2020 an increase of 9.5%. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

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 Cyprus ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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