Hungary: Tomato Juice Market 2024

Tomato Juice Market Size in Hungary

The Hungarian tomato juice market contracted dramatically to $X in 2022, shrinking by -18% against the previous year. In general, consumption recorded a pronounced slump. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Tomato Juice Production in Hungary

In value terms, tomato juice production amounted to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 19% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Tomato Juice Exports

Exports from Hungary

Tomato juice exports from Hungary soared to X tons in 2022, rising by 17% against the previous year. In general, exports, however, recorded a slight curtailment. The growth pace was the most rapid in 2015 with an increase of 133%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, tomato juice exports rose significantly to $X in 2022. Over the period under review, exports, however, continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2015 with an increase of 169%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Romania (X tons), Poland (X tons) and Lithuania (X tons) were the main destinations of tomato juice exports from Hungary, with a combined 77% share of total exports. Slovakia, Israel, Croatia, Slovenia, Russia, the Czech Republic, Bulgaria and Germany lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Israel (with a CAGR of +43.9%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X) remains the key foreign market for tomato juice exports from Hungary, comprising 43% of total exports. The second position in the ranking was held by Poland ($X), with a 21% share of total exports. It was followed by Lithuania, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value to Romania totaled +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-10.8% per year) and Lithuania (+13.7% per year).

Export Prices by Country

In 2022, the average tomato juice export price amounted to $X per ton, declining by -4.4% against the previous year. In general, the export price recorded a slight reduction. The growth pace was the most rapid in 2015 when the average export price increased by 16% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Slovenia ($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 Bulgaria (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Tomato Juice Imports

Imports into Hungary

In 2022, purchases abroad of tomato juice decreased by -17.5% to X tons, falling for the second year in a row after five years of growth. Overall, imports showed a slight curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by 21% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, tomato juice imports dropped to $X in 2022. Over the period under review, imports saw a pronounced slump. The growth pace was the most rapid in 2018 when imports increased by 16%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Poland (X tons) was the main tomato juice supplier to Hungary, accounting for a 95% share of total imports. It was followed by Germany (X tons), with a 1.6% share of total imports. The third position in this ranking was held by Austria (X tons), with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume from Poland amounted to +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-23.8% per year) and Austria (-21.7% per year).

In value terms, Poland ($X) constituted the largest supplier of tomato juice to Hungary, comprising 92% of total imports. The second position in the ranking was taken by Germany ($X), with a 3.7% share of total imports. It was followed by Austria, with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland totaled +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-18.2% per year) and Austria (-18.5% per year).

Import Prices by Country

The average tomato juice import price stood at $X per ton in 2022, picking up by 5.7% against the previous year. Overall, the import price, however, showed a noticeable descent. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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