Hungary: Market for Manufactured Tobacco, Extracts And Essences 2024

Market Size for Manufactured Tobacco, Extracts And Essences in Hungary

In 2021, the Hungarian market for manufactured tobacco, extracts and essences decreased by -22% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption, however, recorded a noticeable expansion. As a result, consumption attained the peak level of $X, and then shrank notably in the following year.

Production of Manufactured Tobacco, Extracts And Essences in Hungary

In value terms, manufactured tobacco, extracts and essences production stood at $X in 2021 estimated in export price. Overall, production, however, recorded a abrupt slump. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Manufactured Tobacco, Extracts And Essences

Exports from Hungary

In 2021, manufactured tobacco, extracts and essences exports from Hungary skyrocketed to X tons, increasing by 164% against 2020 figures. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 455% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, manufactured tobacco, extracts and essences exports soared to $X in 2021. Over the period under review, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2019 when exports increased by 4,189% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

Exports by Country

Norway (X tons), Germany (X tons) and Romania (X tons) were the main destinations of manufactured tobacco, extracts and essences exports from Hungary, together accounting for 94% of total exports.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +461.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Norway ($X), Germany ($X) and Switzerland ($X) were the largest markets for manufactured tobacco, extracts and essences exported from Hungary worldwide, with a combined 96% share of total exports.

In terms of the main countries of destination, Norway, with a CAGR of +441.0%, 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

In 2021, the average export price for manufactured tobacco, extracts and essences amounted to $X per ton, with a decrease of -7.2% against the previous year. Overall, the export price, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 1,637% against the previous year. The export price peaked at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Romania ($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 Denmark (+576.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Manufactured Tobacco, Extracts And Essences

Imports into Hungary

After five years of growth, supplies from abroad of manufactured tobacco, extracts and essences decreased by -66.9% to X tons in 2021. In general, imports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 308% against the previous year. As a result, imports reached the peak of X tons, and then contracted rapidly in the following year.

In value terms, manufactured tobacco, extracts and essences imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 358% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Romania (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of manufactured tobacco, extracts and essences imports to Hungary, together accounting for 86% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +175.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X) constituted the largest supplier of manufactured tobacco, extracts and essences to Hungary, comprising 65% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 16% share of total imports. It was followed by Italy, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Romania totaled +169.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+192.1% per year) and Italy (+218.1% per year).

Import Prices by Country

In 2021, the average import price for manufactured tobacco, extracts and essences amounted to $X per ton, picking up by 452% against the previous year. Over the period under review, the import price showed a significant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+40.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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