Hungary: Wine Market 2024

Wine Market Size in Hungary

For the fourth consecutive year, the Hungarian wine market recorded decline in sales value, which decreased by -22.1% to $X in 2021. In general, consumption, however, showed a deep contraction. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Wine Production in Hungary

In value terms, wine production dropped dramatically to $X in 2021 estimated in export price. Overall, production saw a deep setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by 20% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Wine Exports

Exports from Hungary

In 2021, exports of wine from Hungary reduced to X litres, with a decrease of -11.6% on the year before. In general, exports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2018 when exports increased by 36%. As a result, the exports attained the peak of X litres. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, wine exports stood at $X in 2021. Overall, total exports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -9.3% against 2018 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 28%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Slovakia (X litres), the Czech Republic (X litres) and Germany (X litres) were the main destinations of wine exports from Hungary, with a combined 57% share of total exports. The UK, France, Romania, Sweden, Poland, Italy, Lithuania and Austria lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +50.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wine exported from Hungary were Slovakia ($X), Germany ($X) and the UK ($X), together comprising 42% of total exports. These countries were followed by the Czech Republic, France, Poland, Sweden, Romania, Austria, Italy and Lithuania, which together accounted for a further 34%.

France, with a CAGR of +22.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wine export price stood at $X per litre in 2021, rising by 15% against the previous year. In general, the export price, however, saw a pronounced decrease. Over the period under review, the average export prices reached the peak figure at $X per litre in 2013; however, from 2014 to 2021, the 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 Poland ($X per litre), while the average price for exports to Lithuania ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.

Wine Imports

Imports into Hungary

Wine imports into Hungary expanded significantly to X litres in 2021, surging by 10% on the previous year. In general, imports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 43%. Imports peaked at X litres in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, wine imports expanded rapidly to $X in 2021. Over the period under review, imports, however, recorded a noticeable reduction. The pace of growth appeared the most rapid in 2013 with an increase of 19%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Germany (X litres), Italy (X litres) and Slovakia (X litres) were the main suppliers of wine imports to Hungary, with a combined 82% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +11.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), France ($X) and Germany ($X) constituted the largest wine suppliers to Hungary, with a combined 78% share of total imports. Slovakia, Austria, Spain and Greece lagged somewhat behind, together accounting for a further 15%.

Slovakia, with a CAGR of +21.1%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 2021, the average wine import price amounted to $X per litre, approximately equating the previous year. Over the period under review, the import price saw a buoyant increase. The growth pace was the most rapid in 2018 an increase of 117%. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per litre), while the price for Germany ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+21.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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