Hungary: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in Hungary

In 2021, after two years of growth, there was significant decline in the Hungarian food manufacture machinery market, when its value decreased by -66.8% to $X. Over the period under review, consumption continues to indicate a deep reduction. Food manufacture machinery consumption peaked at $X in 2020, and then contracted sharply in the following year.

Food Manufacture Machinery Production in Hungary

In value terms, food manufacture machinery production shrank markedly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 175%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Food Manufacture Machinery Exports

Exports from Hungary

In 2021, shipments abroad of machinery for the preparation or manufacture of food or drink increased by 5.6% to X units, rising for the third year in a row after two years of decline. Overall, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 717% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, food manufacture machinery exports surged to $X in 2021. Over the period under review, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 262%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the near future.

Exports by Country

Germany (X units) was the main destination for food manufacture machinery exports from Hungary, with a 52% share of total exports. Moreover, food manufacture machinery exports to Germany exceeded the volume sent to the second major destination, France (X units), fourfold. The third position in this ranking was held by Ukraine (X units), with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume to Germany totaled +87.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+36.5% per year) and Ukraine (+20.7% per year).

In value terms, the largest markets for food manufacture machinery exported from Hungary were Germany ($X), France ($X) and Taiwan (Chinese) ($X), with a combined 67% share of total exports. These countries were followed by Romania, Slovakia, Egypt and Ukraine, which together accounted for a further 24%.

Egypt, with a CAGR of +110.8%, recorded the highest growth rate of the value of exports, among 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 2021, the average food manufacture machinery export price amounted to $X per unit, with an increase of 62% against the previous year. In general, the export price, however, continues to indicate a slight shrinkage. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Taiwan (Chinese) ($X per unit), while the average price for exports to Ukraine ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+44.0%), while the prices for the other major destinations experienced more modest paces of growth.

Food Manufacture Machinery Imports

Imports into Hungary

In 2021, after two years of decline, there was significant growth in overseas purchases of machinery for the preparation or manufacture of food or drink, when their volume increased by 66% to X units. In general, imports showed a moderate expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 91% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, food manufacture machinery imports surged to $X in 2021. Overall, imports saw resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X units) constituted the largest food manufacture machinery supplier to Hungary, accounting for a 39% share of total imports. Moreover, food manufacture machinery imports from Germany exceeded the figures recorded by the second-largest supplier, Denmark (X units), twofold. The third position in this ranking was taken by France (X units), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +29.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+55.0% per year) and France (+55.9% per year).

In value terms, Germany ($X), Denmark ($X) and France ($X) constituted the largest food manufacture machinery suppliers to Hungary, together accounting for 77% of total imports. These countries were followed by Italy, China, Serbia, the Netherlands, Spain, Turkey, Poland and Austria, which together accounted for a further 18%.

Serbia, with a CAGR of +125.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average food manufacture machinery import price stood at $X per unit in 2021, surging by 24% 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 2016 an increase of 40% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Denmark ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Serbia (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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