Hungary: Frozen Sweet Corn Market 2024

Frozen Sweet Corn Market Size in Hungary

In 2021, the Hungarian frozen sweet corn market increased by 4.4% to $X, rising for the fourth year in a row after two years of decline. Over the period under review, consumption showed a remarkable increase. Over the period under review, the market attained the peak level in 2021 and is likely to see gradual growth in the immediate term.

Frozen Sweet Corn Production in Hungary

In value terms, frozen sweet corn production declined to $X in 2021 estimated in export price. Overall, production, however, recorded a mild slump. The most prominent rate of growth was recorded in 2020 with an increase of 15%. Frozen sweet corn production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Frozen Sweet Corn Exports

Exports from Hungary

In 2021, overseas shipments of frozen sweet corn were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Overall, exports, however, continue to indicate a slight slump. The pace of growth was the most pronounced in 2014 when exports increased by 28% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, frozen sweet corn exports reached $X in 2021. Over the period under review, exports, however, showed a mild curtailment. The pace of growth appeared the most rapid in 2014 when exports increased by 25%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The UK (X tons), Belgium (X tons) and Germany (X tons) were the main destinations of frozen sweet corn exports from Hungary, with a combined 69% share of total exports. Japan, Israel, Sweden, Finland, Italy, Slovakia and Poland lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Japan (with a CAGR of +382.7%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) remains the key foreign market for frozen sweet corn exports from Hungary, comprising 42% of total exports. The second position in the ranking was held by Belgium ($X), with an 18% share of total exports. It was followed by Japan, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value to the UK was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-0.5% per year) and Japan (+379.6% per year).

Export Prices by Country

The average frozen sweet corn export price stood at $X per ton in 2021, increasing by 6.9% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 16%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see gradual growth in years to come.

Average prices varied somewhat for the major overseas markets. In 2021, the highest price was recorded for prices to Japan ($X per ton) and Slovakia ($X per ton), while the average price for exports to Belgium ($X per ton) and Israel ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Sweet Corn Imports

Imports into Hungary

In 2021, purchases abroad of frozen sweet corn increased by 62% to X tons, rising for the third consecutive year after two years of decline. In general, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 176% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, frozen sweet corn imports skyrocketed to $X in 2021. Overall, imports posted a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of 153%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

Croatia (X tons), Serbia (X tons) and Germany (X tons) were the main suppliers of frozen sweet corn imports to Hungary, together accounting for 65% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Croatia (with a CAGR of +58.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen sweet corn suppliers to Hungary were Croatia ($X), Germany ($X) and Serbia ($X), with a combined 65% share of total imports.

In terms of the main suppliers, Croatia, with a CAGR of +65.3%, recorded 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 2021, the average frozen sweet corn import price amounted to $X per ton, rising by 18% against the previous year. Over the period under review, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 an increase of 34%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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