Hungary: Market for Chocolate Bars with Cereals, Fruit or Nuts 2024

Market Size for Chocolate Bars with Cereals, Fruit or Nuts in Hungary

In 2022, after three years of growth, there was significant decline in the Hungarian market for chocolate bars with cereals, fruit or nuts, when its value decreased by -87.3% to $X. Over the period under review, consumption showed a deep slump. Consumption of peaked at $X in 2021, and then dropped dramatically in the following year.

Production of Chocolate Bars with Cereals, Fruit or Nuts in Hungary

In value terms, production of chocolate bars with cereals, fruit or nuts dropped rapidly to $X in 2022 estimated in export price. In general, production showed a abrupt curtailment. The pace of growth appeared the most rapid in 2013 when the production volume increased by 52%. Over the period under review, production of hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports from Hungary

Exports of chocolate bars with cereals, fruit or nuts from Hungary fell sharply to X tons in 2022, with a decrease of -23.3% against 2021. Overall, exports showed a perceptible decline. The most prominent rate of growth was recorded in 2016 with an increase of 26% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of chocolate bars with cereals, fruit or nuts fell notably to $X in 2022. The total export value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when exports increased by 40%. The exports peaked at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

Russia (X tons) was the main destination for exports of chocolate bars with cereals, fruit or nuts from Hungary, with a 39% share of total exports. Moreover, exports of chocolate bars with cereals, fruit or nuts to Russia exceeded the volume sent to the second major destination, Romania (X tons), threefold. The third position in this ranking was taken by Serbia (X tons), with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia totaled +176.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+0.6% per year) and Serbia (+0.9% per year).

In value terms, Russia ($X) emerged as the key foreign market for chocolate bars with cereals, fruit or nuts exports from Hungary, comprising 33% of total exports. The second position in the ranking was taken by Romania ($X), with a 13% share of total exports. It was followed by Serbia, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value to Russia stood at +144.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+6.4% per year) and Serbia (+5.2% per year).

Export Prices by Country

In 2022, the average export price for chocolate bars with cereals, fruit or nuts amounted to $X per ton, growing by 8.1% against the previous year. In general, the export price showed resilient growth. The pace of growth appeared the most rapid in 2020 an increase of 33% 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 Sweden ($X per ton), while the average price for exports to Israel ($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 Sweden (+30.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Chocolate Bars with Cereals, Fruit or Nuts

Imports into Hungary

After three years of growth, supplies from abroad of chocolate bars with cereals, fruit or nuts decreased by -5.9% to X tons in 2022. The total import volume increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 15%. Over the period under review, imports of reached the maximum at X tons in 2021, and then contracted in the following year.

In value terms, imports of chocolate bars with cereals, fruit or nuts shrank to $X in 2022. The total import value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by 16% against the previous year. Over the period under review, imports of reached the maximum at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of cereal, fruit or nut chocolate bar to Hungary, accounting for a 51% share of total imports. Moreover, imports of chocolate bars with cereals, fruit or nuts from Germany exceeded the figures recorded by the second-largest supplier, Austria (X tons), threefold. The third position in this ranking was taken by Poland (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+9.3% per year) and Poland (-8.8% per year).

In value terms, Germany ($X) constituted the largest supplier of chocolate bars with cereals, fruit or nuts to Hungary, comprising 55% of total imports. The second position in the ranking was taken by Austria ($X), with a 14% share of total imports. It was followed by Poland, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+7.5% per year) and Poland (-7.7% per year).

Import Prices by Country

In 2022, the average import price for chocolate bars with cereals, fruit or nuts amounted to $X per ton, dropping by -5.3% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 15% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Serbia ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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