Hungary: Refrigerated Show-Cases Market 2024

Refrigerated Show-Cases Market Size in Hungary

In 2022, after two years of growth, there was significant decline in the Hungarian refrigerated show-cases market, when its value decreased by -6.5% to $X. In general, consumption, however, posted prominent growth. Over the period under review, the market attained the peak level at $X in 2021, and then fell in the following year.

Refrigerated Show-Cases Production in Hungary

In value terms, refrigerated show-cases production stood at $X in 2022 estimated in export price. Overall, the total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +16.3% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 33%. Refrigerated show-cases production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Refrigerated Show-Cases Exports

Exports from Hungary

In 2022, shipments abroad of refrigerated show-caseses was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +1.8% 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 2016 with an increase of 49%. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, refrigerated show-cases exports skyrocketed to $X in 2022. In general, exports, however, showed a abrupt slump. The pace of growth was the most pronounced in 2017 when exports increased by 37% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X units) was the main destination for refrigerated show-cases exports from Hungary, accounting for a 42% share of total exports. Moreover, refrigerated show-cases exports to Germany exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was taken by Italy (X units), with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.1% per year) and Italy (+31.2% per year).

In value terms, Germany ($X) remains the key foreign market for refrigerated show-caseses exports from Hungary, comprising 28% of total exports. The second position in the ranking was taken by the United States ($X), with an 11% share of total exports. It was followed by Italy, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to -6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+8.7% per year) and Italy (+13.1% per year).

Export Prices by Country

In 2022, the average refrigerated show-cases export price amounted to $X per unit, with an increase of 3.2% against the previous year. Overall, the export price, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 38% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Ukraine ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerated Show-Cases Imports

Imports into Hungary

Refrigerated show-cases imports into Hungary declined to X units in 2022, reducing by -7.6% compared with the previous year's figure. Overall, imports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2014 when imports increased by 49% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, refrigerated show-cases imports expanded rapidly to $X in 2022. Over the period under review, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 54% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of refrigerated show-cases to Hungary, with a 28% share of total imports. Moreover, refrigerated show-cases imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), twofold. The third position in this ranking was taken by Ukraine (X units), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+5.3% per year) and Ukraine (+174.4% per year).

In value terms, the largest refrigerated show-cases suppliers to Hungary were China ($X), Italy ($X) and Turkey ($X), together comprising 39% of total imports. Ukraine, the Czech Republic, Romania, Poland, Germany, Slovenia and Austria lagged somewhat behind, together accounting for a further 46%.

Among the main suppliers, Ukraine, with a CAGR of +271.1%, recorded 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 refrigerated show-cases import price stood at $X per unit in 2022, surging by 16% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 23%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

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 Czech Republic ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+35.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform