Hungary: Fructose Market 2024

Fructose Market Size in Hungary

In 2021, after two years of growth, there was significant decline in the Hungarian fructose market, when its value decreased by -64.3% to $X. Overall, consumption recorded a abrupt setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Fructose Production in Hungary

In value terms, fructose production fell to $X in 2021 estimated in export price. In general, production saw a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 13%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Fructose Exports

Exports from Hungary

In 2021, shipments abroad of fructose and fructose syrup increased by 28% to X tons, rising for the third year in a row after two years of decline. Overall, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.4% 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 +33.4% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, fructose exports soared to $X in 2021. Over the period under review, exports, however, recorded a slight reduction. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The Czech Republic (X tons), Serbia (X tons) and Croatia (X tons) were the main destinations of fructose exports from Hungary, with a combined 55% share of total exports. Romania, Austria, Italy, Poland, the Netherlands and Slovakia lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +54.2%), while the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Serbia ($X) and Croatia ($X) were the largest markets for fructose exported from Hungary worldwide, with a combined 51% share of total exports. Romania, Austria, Italy, Poland, the Netherlands and Slovakia lagged somewhat behind, together accounting for a further 29%.

Among the main countries of destination, Italy, with a CAGR of +43.9%, 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 fructose export price stood at $X per ton in 2021, rising by 7.3% against the previous year. Overall, the export price, however, showed a abrupt shrinkage. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Croatia ($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 Slovakia (-1.9%), while the prices for the other major destinations experienced a decline.

Fructose Imports

Imports into Hungary

In 2021, approx. X tons of fructose and fructose syrup were imported into Hungary; jumping by 27% against the previous year's figure. In general, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 35%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, fructose imports soared to $X in 2021. Overall, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +30.6% against 2019 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 27% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of fructose to Hungary, with a 29% share of total imports. Moreover, fructose imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. France (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium stood at +54.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.8% per year) and France (+6.3% per year).

In value terms, Belgium ($X), the Netherlands ($X) and Germany ($X) constituted the largest fructose suppliers to Hungary, with a combined 54% share of total imports. France, Slovakia, Austria, Turkey, the Czech Republic and Israel lagged somewhat behind, together comprising a further 35%.

Among the main suppliers, the Czech Republic, with a CAGR of +119.2%, 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 fructose import price stood at $X per ton in 2021, which is down by -1.7% against the previous year. Overall, the import price continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2020 when the average import price increased by 4.6% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for the Czech Republic ($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 (-0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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