Hungary: Preserved Sardines Market 2024

Preserved Sardines Market Size in Hungary

The Hungarian preserved sardines market rose remarkably to $X in 2022, with an increase of 12% against the previous year. In general, consumption, however, showed a mild downturn. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Preserved Sardines Production in Hungary

In value terms, preserved sardines production soared to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 124%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Preserved Sardines Exports

Exports from Hungary

In 2022, overseas shipments of sardines (prepared or preserved) increased by 312% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports saw a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of 571%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, preserved sardines exports soared to $X in 2022. Over the period under review, exports continue to indicate a prominent increase. The growth pace was the most rapid in 2018 with an increase of 676%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Serbia (X tons) was the main destination for preserved sardines exports from Hungary, accounting for a 63% share of total exports. Moreover, preserved sardines exports to Serbia exceeded the volume sent to the second major destination, Romania (X tons), fourfold. The third position in this ranking was taken by Ukraine (X tons), with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume to Serbia stood at +105.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-11.3% per year) and Ukraine (+42.1% per year).

In value terms, Serbia ($X) emerged as the key foreign market for sardines (prepared or preserved) exports from Hungary, comprising 62% of total exports. The second position in the ranking was taken by Romania ($X), with a 16% share of total exports. It was followed by Ukraine, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Serbia stood at +106.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-7.0% per year) and Ukraine (+53.0% per year).

Export Prices by Country

The average preserved sardines export price stood at $X per ton in 2022, dropping by -6.6% against the previous year. Over the period under review, the export price, however, posted a prominent increase. The growth pace was the most rapid in 2016 when the average export price increased by 58%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to the Czech Republic ($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 Ukraine (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sardines Imports

Imports into Hungary

In 2022, imports of sardines (prepared or preserved) into Hungary dropped slightly to X tons, remaining relatively unchanged against 2021 figures. In general, imports showed a pronounced setback. The growth pace was the most rapid in 2015 when imports increased by 14%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, preserved sardines imports rose sharply to $X in 2022. Over the period under review, imports showed a noticeable reduction. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Poland (X tons), Morocco (X tons) and Germany (X tons) were the main suppliers of preserved sardines imports to Hungary, with a combined 65% share of total imports. Croatia, the Czech Republic, Latvia, Slovakia and Austria lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +33.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Morocco ($X) and Germany ($X) appeared to be the largest preserved sardines suppliers to Hungary, with a combined 64% share of total imports. Croatia, the Czech Republic, Latvia, Slovakia and Austria lagged somewhat behind, together accounting for a further 33%.

Slovakia, with a CAGR of +30.9%, saw the highest rates of growth with regard to 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 sardines import price stood at $X per ton in 2022, surging by 6.6% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 10% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :