Hungary: Tomato Ketchup Market 2024

Tomato Ketchup Market Size in Hungary

In 2022, after two years of growth, there was decline in the Hungarian tomato ketchup market, when its value decreased by -2.7% to $X. Over the period under review, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +97.9% against 2012 indices. Tomato ketchup consumption peaked at $X in 2021, and then shrank slightly in the following year.

Tomato Ketchup Production in Hungary

In value terms, tomato ketchup production fell sharply to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 28%. Tomato ketchup production peaked at $X in 2021, and then shrank significantly in the following year.

Tomato Ketchup Exports

Exports from Hungary

In 2022, overseas shipments of tomato ketchup and tomato sauces decreased by -9.3% to X tons, falling for the second year in a row after three years of growth. In general, exports showed a perceptible setback. The pace of growth was the most pronounced in 2018 with an increase of 17%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, tomato ketchup exports dropped to $X in 2022. Overall, exports showed a perceptible descent. The most prominent rate of growth was recorded in 2018 with an increase of 20% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Romania (X tons) was the main destination for tomato ketchup exports from Hungary, with a 79% share of total exports. Moreover, tomato ketchup exports to Romania exceeded the volume sent to the second major destination, Slovakia (X tons), more than tenfold. The third position in this ranking was taken by Bulgaria (X tons), with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Romania totaled +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (-4.3% per year) and Bulgaria (+21.0% per year).

In value terms, Romania ($X) remains the key foreign market for tomato ketchup and tomato sauces exports from Hungary, comprising 65% of total exports. The second position in the ranking was held by Slovakia ($X), with an 8.6% share of total exports. It was followed by Bulgaria, with a 4.6% share.

From 2012 to 2022, the average annual growth rate of value to Romania totaled +8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+0.5% per year) and Bulgaria (+23.1% per year).

Export Prices by Country

The average tomato ketchup export price stood at $X per ton in 2022, approximately reflecting the previous year. In general, the export price, however, recorded a slight contraction. The pace of growth appeared the most rapid in 2021 when the average export price increased by 4%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Romania ($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 Poland (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Tomato Ketchup Imports

Imports into Hungary

In 2022, purchases abroad of tomato ketchup and tomato sauces decreased by -0.5% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2020 with an increase of 9.7%. Over the period under review, imports reached the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, tomato ketchup imports expanded slightly to $X in 2022. The total import value increased at an average annual rate of +4.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by 15%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Austria (X tons), Poland (X tons) and Italy (X tons) were the main suppliers of tomato ketchup imports to Hungary, with a combined 79% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +19.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Austria ($X) and Italy ($X) constituted the largest tomato ketchup suppliers to Hungary, together comprising 71% of total imports.

Italy, with a CAGR of +16.4%, recorded 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 tomato ketchup import price stood at $X per ton in 2022, increasing by 3.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2014 an increase of 9.1%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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 Belgium ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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