Hungary: Vermouth Market 2024

Vermouth Market Size in Hungary

The Hungarian vermouth market reduced remarkably to $X in 2022, waning by -29% against the previous year. In general, consumption saw a deep contraction. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Vermouth Production in Hungary

In value terms, vermouth production dropped notably to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 92% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Vermouth Exports

Exports from Hungary

In 2022, the amount of vermouth exported from Hungary shrank remarkably to X litres, declining by -16.5% against the year before. Overall, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 608%. Over the period under review, the exports attained the maximum at X litres in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, vermouth exports contracted rapidly to $X in 2022. Over the period under review, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2016 with an increase of 1,696%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Slovakia (X litres), Lithuania (X litres) and Poland (X litres) were the main destinations of vermouth exports from Hungary, with a combined 73% share 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 Slovakia (with a CAGR of +127.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vermouth exported from Hungary were Slovakia ($X), Poland ($X) and Lithuania ($X), together accounting for 67% of total exports.

Among the main countries of destination, Slovakia, with a CAGR of +123.4%, recorded 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

In 2022, the average vermouth export price amounted to $X per litre, approximately equating the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 154%. As a result, the export price reached the peak level of $X per litre. From 2017 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovenia ($X per litre), while the average price for exports to Lithuania ($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 Croatia (+27.5%), while the prices for the other major destinations experienced more modest paces of growth.

Vermouth Imports

Imports into Hungary

Vermouth imports into Hungary reduced sharply to X litres in 2022, with a decrease of -19.5% compared with the year before. In general, imports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2017 with an increase of 3.8% against the previous year. Over the period under review, imports attained the peak figure at X litres in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, vermouth imports dropped notably to $X in 2022. Over the period under review, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 8.4% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Italy (X litres), Romania (X litres) and Spain (X litres) were the main suppliers of vermouth imports to Hungary, with a combined 74% share of total imports. Austria, Germany, Slovakia and Sweden lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +21.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Romania ($X) and Germany ($X) were the largest vermouth suppliers to Hungary, together accounting for 82% of total imports. Austria, Spain, Slovakia and Sweden lagged somewhat behind, together accounting for a further 16%.

Sweden, with a CAGR of +18.9%, 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

In 2022, the average vermouth import price amounted to $X per litre, waning by -9.4% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 24%. As a result, import price reached the peak level of $X per litre. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per litre), while the price for Spain ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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