Hungary: Market for Preparations Used In Animal Feeding 2024

Market Size for Preparations Used In Animal Feeding in Hungary

The Hungarian preparations for animal feeding market surged to $X in 2022, picking up by 30% against the previous year. The market value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Preparations Used In Animal Feeding in Hungary

In value terms, preparations for animal feeding production soared to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Preparations Used In Animal Feeding

Exports from Hungary

In 2022, shipments abroad of preparations used in animal feeding decreased by -5.1% to X tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +5.1% 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 when exports increased by 12%. The exports peaked at X tons in 2021, and then declined in the following year.

In value terms, preparations for animal feeding exports reached $X in 2022. Over the period under review, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.4% against 2016 indices. The pace of growth appeared the most rapid in 2013 when exports increased by 21% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Romania (X tons) was the main destination for preparations for animal feeding exports from Hungary, with a 34% share of total exports. Moreover, preparations for animal feeding exports to Romania exceeded the volume sent to the second major destination, Poland (X tons), fourfold. The third position in this ranking was taken by Croatia (X tons), with a 7% share.

From 2012 to 2022, the average annual growth rate of volume to Romania stood at +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+4.5% per year) and Croatia (+18.2% per year).

In value terms, the largest markets for preparations for animal feeding exported from Hungary were Romania ($X), Germany ($X) and Poland ($X), together accounting for 40% of total exports. Austria, Italy, France, the UK, the Czech Republic, Croatia, Ukraine, Serbia, Slovakia and the Netherlands lagged somewhat behind, together accounting for a further 41%.

Serbia, with a CAGR of +15.3%, recorded the highest growth rate of the value of exports, in terms of 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 2022, the average preparations for animal feeding export price amounted to $X per ton, increasing by 18% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Slovakia ($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 Austria (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Preparations Used In Animal Feeding

Imports into Hungary

After two years of decline, purchases abroad of preparations used in animal feeding increased by 18% to X tons in 2022. In general, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 36%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, preparations for animal feeding imports surged to $X in 2022. Overall, imports saw prominent growth. The most prominent rate of growth was recorded in 2018 when imports increased by 26% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

Austria (X tons), Ukraine (X tons) and Germany (X tons) were the main suppliers of preparations for animal feeding imports to Hungary, with a combined 49% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +102.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest preparations for animal feeding suppliers to Hungary were Germany ($X), Austria ($X) and Poland ($X), together accounting for 51% of total imports. The Czech Republic, France, the Netherlands, Ukraine, Italy, Slovakia, Belgium, Spain and Croatia lagged somewhat behind, together accounting for a further 43%.

Among the main suppliers, Ukraine, with a CAGR of +96.5%, saw 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 preparations for animal feeding import price stood at $X per ton in 2022, increasing by 2.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 31% against the previous year. The import price peaked in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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