Hungary: Yoghurt Market 2024

Yoghurt Market Size in Hungary

The Hungarian yoghurt market shrank to $X in 2022, remaining stable against the previous year. Over the period under review, consumption saw a buoyant increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Yoghurt Production in Hungary

In value terms, yoghurt production totaled $X in 2022 estimated in export price. Over the period under review, production, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of less than 0.1%. As a result, production attained the peak level of $X; afterwards, it flattened through to 2022.

Yoghurt Exports

Exports from Hungary

In 2022, after two years of growth, there was decline in overseas shipments of yoghurt, when their volume decreased by -1.8% to X tons. Over the period under review, exports recorded a deep contraction. The growth pace was the most rapid in 2017 when exports increased by 55%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, yoghurt exports reduced to $X in 2022. In general, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 52% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Romania (X tons) was the main destination for yoghurt exports from Hungary, with a 70% share of total exports. Moreover, yoghurt exports to Romania exceeded the volume sent to the second major destination, Croatia (X tons), fourfold. The third position in this ranking was held by Bulgaria (X tons), with a 5.3% share.

From 2012 to 2022, the average annual growth rate of volume to Romania was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (-0.5% per year) and Bulgaria (+23.9% per year).

In value terms, Romania ($X) remains the key foreign market for yoghurt exports from Hungary, comprising 60% of total exports. The second position in the ranking was held by Croatia ($X), with a 21% share of total exports. It was followed by Bulgaria, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value to Romania was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (+1.7% per year) and Bulgaria (+17.4% per year).

Export Prices by Country

In 2022, the average yoghurt export price amounted to $X per ton, with a decrease of -3.2% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average export price increased by 23% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, 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 Italy ($X per ton), while the average price for exports to Austria ($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 Italy (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Yoghurt Imports

Imports into Hungary

In 2022, purchases abroad of yoghurt increased by 2.9% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 50% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, yoghurt imports expanded slightly to $X in 2022. Over the period under review, imports recorded a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of 24%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Romania (X tons) constituted the largest supplier of yoghurt to Hungary, with a 43% share of total imports. Moreover, yoghurt imports from Romania exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Poland (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Romania totaled +52.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.7% per year) and Poland (+6.5% per year).

In value terms, the largest yoghurt suppliers to Hungary were Romania ($X), Germany ($X) and Poland ($X), together comprising 74% of total imports. Austria, the Czech Republic, Slovakia and Croatia lagged somewhat behind, together comprising a further 23%.

In terms of the main suppliers, Slovakia, with a CAGR of +72.7%, recorded the highest growth rate of the value of imports, 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 yoghurt import price amounted to $X per ton, standing approx. at the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 13% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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