Hungary: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Hungary

The Hungarian prepared baking powder market expanded modestly to $X in 2022, picking up by 4.1% against the previous year. Overall, consumption recorded a perceptible shrinkage. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Prepared Baking Powder Production in Hungary

In value terms, prepared baking powder production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt decline. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Prepared Baking Powder Exports

Exports from Hungary

In 2022, the amount of prepared baking powders exported from Hungary surged to X tons, with an increase of 24% compared with the previous year's figure. Overall, exports, however, showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 37% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, prepared baking powder exports rose rapidly to $X in 2022. In general, exports, however, continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 44% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for prepared baking powder exports from Hungary, accounting for a 67% share of total exports. Moreover, prepared baking powder exports to the UK exceeded the volume sent to the second major destination, Croatia (X tons), fourfold. The third position in this ranking was taken by Denmark (X tons), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK totaled -1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (+0.2% per year) and Denmark (-11.1% per year).

In value terms, the UK ($X) remains the key foreign market for prepared baking powders exports from Hungary, comprising 58% of total exports. The second position in the ranking was held by Croatia ($X), with an 18% share of total exports. It was followed by Denmark, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK amounted to -6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (-2.9% per year) and Denmark (-11.9% per year).

Export Prices by Country

In 2022, the average prepared baking powder export price amounted to $X per ton, declining by -11.2% against the previous year. Over the period under review, the export price continues to indicate a noticeable setback. The most prominent rate of growth was recorded in 2017 when the average export price increased by 10% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, 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 Serbia ($X per ton), while the average price for exports to the UK ($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 Serbia (+8.3%), while the prices for the other major destinations experienced mixed trend patterns.

Prepared Baking Powder Imports

Imports into Hungary

In 2022, purchases abroad of prepared baking powders decreased by -11.1% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, imports, however, enjoyed a notable expansion. The pace of growth was the most pronounced in 2018 when imports increased by 60%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, prepared baking powder imports rose sharply to $X in 2022. In general, imports, however, saw a notable expansion. The growth pace was the most rapid in 2017 when imports increased by 90%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Austria (X tons), Germany (X tons) and Slovakia (X tons) were the main suppliers of prepared baking powder imports to Hungary, together comprising 88% of total imports. Hong Kong SAR, China, Switzerland and Poland lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +232.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest prepared baking powder suppliers to Hungary were Germany ($X), Austria ($X) and Switzerland ($X), together comprising 88% of total imports.

Switzerland, with a CAGR of +301.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average prepared baking powder import price amounted to $X per ton, rising by 25% against the previous year. In general, the import price showed a relatively flat trend pattern. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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