Hungary: Market for Soap In Different Forms 2024

Market Size for Soap In Different Forms in Hungary

The Hungarian soap in different forms market skyrocketed to $X in 2021, surging by 17% against the previous year. Over the period under review, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.1% 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 +70.0% against 2015 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Production of Soap In Different Forms in Hungary

In value terms, soap in different forms production soared to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt downturn. Soap in different forms production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Soap In Different Forms

Exports from Hungary

After two years of growth, shipments abroad of soap in different forms decreased by -21.3% to X tons in 2021. Over the period under review, total exports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +36.6% against 2018 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 62% against the previous year. As a result, the exports attained the peak of X tons, and then fell sharply in the following year.

In value terms, soap in different forms exports contracted markedly to $X in 2021. Overall, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 150%. As a result, the exports attained the peak of $X, and then dropped significantly in the following year.

Exports by Country

Romania (X tons) was the main destination for soap in different forms exports from Hungary, accounting for a 28% share of total exports. Moreover, soap in different forms exports to Romania exceeded the volume sent to the second major destination, Slovakia (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Romania stood at +11.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+3.6% per year) and Germany (+13.8% per year).

In value terms, Romania ($X), Slovakia ($X) and Germany ($X) were the largest markets for soap in different forms exported from Hungary worldwide, together accounting for 37% of total exports.

Among the main countries of destination, Romania, with a CAGR of +13.6%, saw the highest growth rate of 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 soap in different forms export price stood at $X per ton in 2021, declining by -27.2% against the previous year. In general, the export price, however, posted a pronounced expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by 54% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted dramatically in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Poland ($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 Slovakia (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Soap In Different Forms

Imports into Hungary

In 2021, the amount of soap in different forms imported into Hungary dropped slightly to X tons, reducing by -3.5% on the previous year's figure. Overall, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +10.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +135.8% against 2012 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 36%. As a result, imports attained the peak of X tons, and then fell modestly in the following year.

In value terms, soap in different forms imports expanded modestly to $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 31%. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Poland (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of soap in different forms imports to Hungary, together accounting for 84% of total imports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +43.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest soap in different forms suppliers to Hungary were Poland ($X), Germany ($X) and France ($X), with a combined 80% share of total imports. These countries were followed by Belgium, Austria, Sweden and the Netherlands, which together accounted for a further 11%.

Belgium, with a CAGR of +27.3%, saw the highest rates of growth with regard to the value of imports, among 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 soap in different forms import price stood at $X per ton in 2021, increasing by 7.1% against the previous year. Over the period under review, the import price, however, saw a abrupt downturn. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 France ($X per ton), while the price for Belgium ($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 Netherlands (-1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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