Hungary: Market for Frozen Vegetables other than Potato and Corn 2024

Market Size for Frozen Vegetables other than Potato and Corn in Hungary

In 2022, the Hungarian market for frozen vegetables other than potato and corn increased by 1.4% to $X, rising for the sixth consecutive year after three years of decline. Overall, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +75.0% against 2016 indices. Consumption of peaked in 2022 and is expected to retain growth in the near future.

Production of Frozen Vegetables other than Potato and Corn in Hungary

In value terms, production of frozen vegetables other than potato and corn dropped to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the production volume increased by 25%. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Frozen Vegetables other than Potato and Corn

Exports from Hungary

Exports of frozen vegetables other than potato and corn from Hungary dropped to X tons in 2022, waning by -13.6% compared with the previous year. In general, exports recorded a deep setback. The growth pace was the most rapid in 2016 when exports increased by 15% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of frozen vegetables other than potato and corn dropped to $X in 2022. Over the period under review, exports saw a pronounced reduction. The pace of growth was the most pronounced in 2021 when exports increased by 17%. Over the period under review, the exports of attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Romania (X tons) was the main destination for exports of frozen vegetables other than potato and corn from Hungary, accounting for a 35% share of total exports. Moreover, exports of frozen vegetables other than potato and corn to Romania exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was taken by Slovakia (X tons), with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume to Romania totaled +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-8.7% per year) and Slovakia (-2.7% per year).

In value terms, Romania ($X) remains the key foreign market for frozen vegetables other than potato and corn exports from Hungary, comprising 32% of total exports. The second position in the ranking was taken by Germany ($X), with a 14% share of total exports. It was followed by Slovakia, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value to Romania totaled +3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-7.5% per year) and Slovakia (-1.1% per year).

Export Prices by Country

In 2022, the average export price for frozen vegetables other than potato and corn amounted to $X per ton, surging by 1.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2020 an increase of 12% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Greece ($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 Switzerland (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Vegetables other than Potato and Corn

Imports into Hungary

Imports of frozen vegetables other than potato and corn into Hungary shrank slightly to X tons in 2022, with a decrease of -3.7% on the previous year. Overall, total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 20%. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, imports of frozen vegetables other than potato and corn declined to $X in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +88.1% against 2015 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 27%. Over the period under review, imports of reached the maximum at $X in 2021, and then shrank modestly in the following year.

Imports by Country

Poland (X tons), Belgium (X tons) and Austria (X tons) were the main suppliers of imports of frozen vegetables other than potato and corn to Hungary, with a combined 68% share of total imports. Germany, the Netherlands, Serbia, Spain and Slovakia lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +21.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen vegetables other than potato and corn suppliers to Hungary were Poland ($X), Belgium ($X) and Germany ($X), together comprising 60% of total imports. Austria, the Netherlands, Spain, Serbia and Slovakia lagged somewhat behind, together comprising a further 29%.

Among the main suppliers, the Netherlands, with a CAGR of +27.0%, recorded 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 import price for frozen vegetables other than potato and corn stood at $X per ton in 2022, leveling off at the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2021 an increase of 11%. As a result, import price attained the peak level of $X per ton, leveling off in the following year.

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 the Netherlands ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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