Hungary: Market for Spirits, Liqueurs And Other Spirituous Beverages 2024

Market Size for Spirits, Liqueurs And Other Spirituous Beverages in Hungary

The Hungarian market for spirits, liqueurs and other spirituous beverages surged to $X in 2022, jumping by 18% against the previous year. Overall, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +5.8% against 2018 indices. Consumption of peaked in 2022 and is expected to retain growth in the immediate term.

Production of Spirits, Liqueurs And Other Spirituous Beverages in Hungary

In value terms, production of spirits, liqueurs and other spirituous beverages surged to $X in 2022 estimated in export price. In general, production, however, showed a perceptible downturn. Production of peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Spirits, Liqueurs And Other Spirituous Beverages

Exports from Hungary

In 2022, shipments abroad of spirits, liqueurs and other spirituous beverages decreased by -15.7% to X litres for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, posted a resilient increase. The growth pace was the most rapid in 2021 with an increase of 46% against the previous year. As a result, the exports attained the peak of X litres, and then dropped sharply in the following year.

In value terms, exports of spirits, liqueurs and other spirituous beverages rose slightly to $X in 2022. Over the period under review, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +41.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 20%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Slovakia (X litres) was the main destination for exports of spirits, liqueurs and other spirituous beverages from Hungary, accounting for a 63% share of total exports. Moreover, exports of spirits, liqueurs and other spirituous beverages to Slovakia exceeded the volume sent to the second major destination, Italy (X litres), fourfold. Germany (X litres) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Slovakia amounted to +10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+6.4% per year) and Germany (-0.7% per year).

In value terms, Slovakia ($X) remains the key foreign market for spirits, liqueurs and other spirituous beverages exports from Hungary, comprising 48% of total exports. The second position in the ranking was held by Italy ($X), with a 22% share of total exports. It was followed by Germany, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Slovakia amounted to +10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+4.1% per year) and Germany (-3.1% per year).

Export Prices by Country

In 2022, the average export price for spirits, liqueurs and other spirituous beverages amounted to $X per litre, rising by 23% against the previous year. Overall, the export price, however, continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when the average export price increased by 42% against the previous year. Over the period under review, the average export prices hit record highs at $X per litre 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 export markets. In 2022, 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 (-0.2%), while the prices for the other major destinations experienced a decline.

Imports of Spirits, Liqueurs And Other Spirituous Beverages

Imports into Hungary

After two years of growth, overseas purchases of spirits, liqueurs and other spirituous beverages decreased by -5.5% to X litres in 2022. Over the period under review, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 82% against the previous year. As a result, imports attained the peak of X litres, and then fell in the following year.

In value terms, imports of spirits, liqueurs and other spirituous beverages expanded significantly to $X in 2022. Overall, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2018 when imports increased by 40%. Over the period under review, imports of reached the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

Poland (X litres), Germany (X litres) and Belgium (X litres) were the main suppliers of imports of spirits, liqueurs and other spirituous beverages to Hungary, with a combined 72% 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 Belgium (with a CAGR of +66.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of spirits, liqueurs and other spirituous beverages to Hungary, comprising 31% of total imports. The second position in the ranking was taken by Poland ($X), with a 15% share of total imports. It was followed by Slovakia, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+9.0% per year) and Slovakia (+30.1% per year).

Import Prices by Country

The average import price for spirits, liqueurs and other spirituous beverages stood at $X per litre in 2022, picking up by 14% against the previous year. Overall, the import price, however, recorded a perceptible decline. The import price peaked at $X per litre in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 the Netherlands ($X per litre), while the price for Poland ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform