Hungary: Preserved Swine Meat Market 2024

Preserved Swine Meat Market Size in Hungary

In 2021, the Hungarian preserved swine meat market increased by 9.2% to $X, rising for the fifth consecutive year after two years of decline. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +70.4% against 2016 indices. Preserved swine meat consumption peaked in 2021 and is likely to see steady growth in the near future.

Preserved Swine Meat Production in Hungary

In value terms, preserved swine meat production soared to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a deep slump. The growth pace was the most rapid in 2018 with an increase of 50%. Preserved swine meat production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Preserved Swine Meat Exports

Exports from Hungary

In 2021, overseas shipments of prepared or preserved hams and cuts of swine meat decreased by -8.6% to X tons, falling for the second consecutive year after eight years of growth. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -20.2% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 32% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, preserved swine meat exports declined to $X in 2021. In general, total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 54%. The exports peaked at $X in 2020, and then declined in the following year.

Exports by Country

Italy (X tons) was the main destination for preserved swine meat exports from Hungary, with a 48% share of total exports. Moreover, preserved swine meat exports to Italy exceeded the volume sent to the second major destination, Romania (X tons), fivefold. The third position in this ranking was taken by the United States (X tons), with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy amounted to +16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+16.0% per year) and the United States (+12.5% per year).

In value terms, Italy ($X) remains the key foreign market for prepared or preserved hams and cuts of swine meat exports from Hungary, comprising 49% of total exports. The second position in the ranking was held by Romania ($X), with an 11% share of total exports. It was followed by the United States, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy amounted to +16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+16.8% per year) and the United States (+11.8% per year).

Export Prices by Country

The average preserved swine meat export price stood at $X per ton in 2021, approximately mirroring the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by 19% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Gibraltar ($X per ton), while the average price for exports to Austria ($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 Russia (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Swine Meat Imports

Imports into Hungary

Preserved swine meat imports into Hungary expanded to X tons in 2021, increasing by 2.1% compared with the previous year's figure. In general, imports recorded a strong increase. The growth pace was the most rapid in 2015 with an increase of 50% 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.

In value terms, preserved swine meat imports contracted modestly to $X in 2021. Overall, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 41% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020, and then fell slightly in the following year.

Imports by Country

The Czech Republic (X tons), Germany (X tons) and Austria (X tons) were the main suppliers of preserved swine meat imports to Hungary, together comprising 69% of total imports. These countries were followed by Slovakia, Serbia, Italy and Poland, which together accounted for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Serbia (with a CAGR of +270.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved swine meat suppliers to Hungary were the Czech Republic ($X), Germany ($X) and Austria ($X), together accounting for 76% of total imports. Slovakia, Serbia, Italy and Poland lagged somewhat behind, together comprising a further 22%.

Serbia, with a CAGR of +255.7%, 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 preserved swine meat import price stood at $X per ton in 2021, shrinking by -3.8% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 12%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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