Hungary: Spirits And Liqueurs Market 2024

Spirits And Liqueurs Market Size in Hungary

For the third consecutive year, the Hungarian spirits and liqueurs market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Spirits And Liqueurs Production in Hungary

In value terms, spirits and liqueurs production contracted notably to $X in 2022 estimated in export price. Over the period under review, production faced a abrupt decline. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Spirits And Liqueurs Exports

Exports from Hungary

In 2022, shipments abroad of spirits, liqueurs and other spirituous beverages decreased by X% to X litres for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at X litres in 2021, and then dropped remarkably in the following year.

In value terms, spirits and liqueurs exports rose slightly to $X in 2022. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

Slovakia (X litres) was the main destination for spirits and liqueurs exports from Hungary, accounting for a X% share of total exports. Moreover, spirits and liqueurs exports to Slovakia exceeded the volume sent to the second major destination, Italy (X litres), fivefold. The third position in this ranking was taken by Germany (X litres), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Slovakia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Germany (X% per year).

In value terms, Slovakia ($X) remains the key foreign market for spirits, liqueurs and other spirituous beverages exports from Hungary, comprising X% of total exports. The second position in the ranking was held by Italy ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Slovakia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Germany (X% per year).

Export Prices by Country

The average spirits and liqueurs export price stood at $X per litre in 2022, rising by X% against the previous year. Over the period under review, the export price, however, showed a perceptible decline. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per litre in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per litre), while the average price for exports to Bahrain ($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 (X%), while the prices for the other major destinations experienced a decline.

Spirits And Liqueurs Imports

Imports into Hungary

After two years of growth, overseas purchases of spirits, liqueurs and other spirituous beverages decreased by less than X% to X litres in 2022. Over the period under review, imports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of X litres, leveling off in the following year.

In value terms, spirits and liqueurs imports reached $X in 2022. Overall, imports, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Germany (X litres), Poland (X litres) and Belgium (X litres) were the main suppliers of spirits and liqueurs imports to Hungary, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of spirits, liqueurs and other spirituous beverages to Hungary, comprising X% of total imports. The second position in the ranking was held by Romania ($X), with a X% share of total imports. It was followed by Poland, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (X% per year) and Poland (X% per year).

Import Prices by Country

In 2022, the average spirits and liqueurs import price amounted to $X per litre, picking up by X% against the previous year. In general, the import price, however, showed a perceptible setback. The growth pace was the most rapid in 2017 an increase of X%. As a result, import price reached the peak level of $X per litre. From 2018 to 2022, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :