Hungary: Sparkling Wine Market 2024

Sparkling Wine Market Size in Hungary

In 2022, the Hungarian sparkling wine market decreased by -2.4% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption showed a abrupt descent. The pace of growth was the most pronounced in 2018 with an increase of 8%. Sparkling wine consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Sparkling Wine Production in Hungary

In value terms, sparkling wine production fell to $X in 2022 estimated in export price. Overall, production showed a abrupt slump. The growth pace was the most rapid in 2018 with an increase of 5.4% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Sparkling Wine Exports

Exports from Hungary

In 2022, shipments abroad of sparkling wine increased by 11% to X litres for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 28%. As a result, the exports attained the peak of X litres. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, sparkling wine exports reached $X in 2022. In general, exports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 16% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Romania (X litres), Estonia (X litres) and Canada (X litres) were the main destinations of sparkling wine exports from Hungary, together accounting for 64% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of +30.3%), while the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Romania ($X) and Estonia ($X) were the largest markets for sparkling wine exported from Hungary worldwide, with a combined 67% share of total exports.

Romania, with a CAGR of +31.3%, recorded the highest growth rate of the value of exports, among 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 sparkling wine export price amounted to $X per litre, remaining stable against the previous year. In general, the export price continues to indicate a mild descent. The pace of growth appeared the most rapid in 2018 when the average export price increased by 39% against the previous year. Over the period under review, the average export prices attained the maximum at $X per litre in 2012; however, from 2013 to 2022, the 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 Canada ($X per litre), while the average price for exports to Estonia ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sparkling Wine Imports

Imports into Hungary

In 2022, the amount of sparkling wine imported into Hungary reached X litres, almost unchanged from 2021 figures. Over the period under review, imports, however, continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2021 with an increase of 31%. Imports peaked at X litres in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, sparkling wine imports reduced to $X in 2022. Overall, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +99.3% against 2015 indices. The pace of growth appeared the most rapid in 2021 with an increase of 25%. As a result, imports reached the peak of $X, and then shrank modestly in the following year.

Imports by Country

Italy (X litres), Germany (X litres) and France (X litres) were the main suppliers of sparkling wine imports to Hungary, with a combined 84% share of total imports. Slovakia, Austria and Spain lagged somewhat behind, together comprising a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +81.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Italy ($X) and Germany ($X) appeared to be the largest sparkling wine suppliers to Hungary, together comprising 91% of total imports. These countries were followed by Austria, Slovakia and Spain, which together accounted for a further 7.2%.

In terms of the main suppliers, Slovakia, with a CAGR of +47.7%, saw 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 sparkling wine import price stood at $X per litre in 2022, which is down by -4.5% against the previous year. Overall, the import price, however, continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2017 when the average import price increased by 48% against the previous year. Over the period under review, average import prices attained the maximum at $X per litre in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 France ($X per litre), while the price for Germany ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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