Hungary: Smoked Salmon Market 2024

Smoked Salmon Market Size in Hungary

In 2022, the Hungarian smoked salmon market increased by 6.7% to $X, rising for the fourth year in a row after two years of decline. Over the period under review, consumption showed buoyant growth. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in years to come.

Smoked Salmon Exports

Exports from Hungary

In 2022, the amount of smoked pacific, atlantic and danube salmon exported from Hungary surged to X tons, rising by 38% against the year before. Over the period under review, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 20,512% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, smoked salmon exports skyrocketed to $X in 2022. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 10,163%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Croatia (X tons), Austria (X tons) and Romania (X tons) were the main destinations of smoked salmon exports from Hungary, together accounting for 84% of total exports. Slovakia, Bulgaria and Slovenia lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +106.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for smoked salmon exported from Hungary were Croatia ($X), Romania ($X) and Austria ($X), together accounting for 83% of total exports. Slovakia, Bulgaria and Slovenia lagged somewhat behind, together comprising a further 17%.

Slovakia, with a CAGR of +100.1%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average smoked salmon export price amounted to $X per ton, shrinking by -3.1% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 94% against the previous year. The export price peaked at $X per ton in 2021, and then declined in the following year.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Bulgaria ($X per ton) and Slovenia ($X per ton), while the average price for exports to Austria ($X per ton) and Croatia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Smoked Salmon Imports

Imports into Hungary

In 2022, supplies from abroad of smoked pacific, atlantic and danube salmon increased by 3.7% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +10.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.6% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 73%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, smoked salmon imports rose remarkably to $X in 2022. Overall, imports showed a strong increase. The growth pace was the most rapid in 2014 when imports increased by 55%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), Lithuania (X tons) and Poland (X tons) were the main suppliers of smoked salmon imports to Hungary, with a combined 81% share of total imports. The Czech Republic, the Netherlands, Sweden and Denmark lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +109.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Lithuania ($X) and Poland ($X) constituted the largest smoked salmon suppliers to Hungary, together accounting for 84% of total imports. The Czech Republic, the Netherlands, Sweden and Denmark lagged somewhat behind, together comprising a further 14%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +103.9%, saw the highest rates of growth with regard to 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

In 2022, the average smoked salmon import price amounted to $X per ton, rising by 5.1% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the average import price increased by 30% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 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 Germany ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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