Hungary: Preserved Cows Meat Market 2024

Preserved Cows Meat Market Size in Hungary

In 2021, the Hungarian preserved cows meat market decreased by -41.8% to $X, falling for the second year in a row after four years of growth. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Preserved Cows Meat Production in Hungary

In value terms, preserved cows meat production stood at $X in 2021 estimated in export price. In general, production, however, showed a abrupt decrease. The pace of growth was the most pronounced in 2013 with an increase of 13% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Preserved Cows Meat Exports

Exports from Hungary

After two years of decline, overseas shipments of prepared or preserved meat or offal of bovine animals increased by 190% to X tons in 2021. Over the period under review, exports showed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, preserved cows meat exports soared to $X in 2021. In general, exports recorded strong growth. The most prominent rate of growth was recorded in 2016 when exports increased by 413% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in years to come.

Exports by Country

Austria (X tons) was the main destination for preserved cows meat exports from Hungary, with a 36% share of total exports. Moreover, preserved cows meat exports to Austria exceeded the volume sent to the second major destination, Romania (X tons), twofold. Slovakia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Austria stood at +6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+12.1% per year) and Slovakia (+7.4% per year).

In value terms, the largest markets for preserved cows meat exported from Hungary were Austria ($X), Romania ($X) and Belgium ($X), with a combined 65% share of total exports. Slovakia, Germany, Bulgaria, Kosovo, North Macedonia and Montenegro lagged somewhat behind, together comprising a further 25%.

In terms of the main countries of destination, Germany, with a CAGR of +142.2%, recorded the highest rates of growth with regard to 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

The average preserved cows meat export price stood at $X per ton in 2021, dropping by -5.5% against the previous year. In general, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved cows meat export price increased by +13.0% against 2016 indices. The pace of growth appeared the most rapid in 2016 an increase of 99.9%. The export price peaked at $X per ton in 2020, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to North Macedonia ($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 Romania (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Cows Meat Imports

Imports into Hungary

In 2021, overseas purchases of prepared or preserved meat or offal of bovine animals decreased by -22.7% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, showed a modest expansion. The pace of growth appeared the most rapid in 2016 with an increase of 44% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, preserved cows meat imports dropped to $X in 2021. Over the period under review, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2018 when imports increased by 58% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Sweden (X tons), Poland (X tons) and the Czech Republic (X tons) were the main suppliers of preserved cows meat imports to Hungary, with a combined 61% share of total imports. These countries were followed by Austria, Germany, the Netherlands and Slovakia, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +52.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Germany ($X) and Poland ($X) constituted the largest preserved cows meat suppliers to Hungary, together accounting for 55% of total imports. These countries were followed by Austria, the Netherlands, the Czech Republic and Slovakia, which together accounted for a further 34%.

The Netherlands, with a CAGR of +54.2%, saw 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 cows meat import price stood at $X per ton in 2021, surging by 15% against the previous year. In general, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 an increase of 28% against the previous year. Over the period under review, average import prices reached the maximum in 2021 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 Germany ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :