Serbia: Market for Candies, Sweets, and Nonchocolate Confectionery 2024

Market Size for Candies, Sweets, and Nonchocolate Confectionery in Serbia

In 2022, the Serbian market for candies, sweets, and nonchocolate confectionery decreased by -19.7% to $X, falling for the fourth consecutive year after three years of growth. Overall, consumption continues to indicate a deep setback. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Candies, Sweets, and Nonchocolate Confectionery in Serbia

In value terms, candy, sweets, and nonchocolate confectionery production fell to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt decline. The pace of growth appeared the most rapid in 2018 when the production volume increased by 38% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports from Serbia

In 2022, overseas shipments of candies, sweets, and nonchocolate confectionery increased by 0.5% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 19%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, candy, sweets, and nonchocolate confectionery exports rose to $X in 2022. The total export value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 21%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Bosnia and Herzegovina (X tons), Montenegro (X tons) and North Macedonia (X tons) were the main destinations of candy, sweets, and nonchocolate confectionery exports from Serbia, together accounting for 76% 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 North Macedonia (with a CAGR of +2.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for candy, sweets, and nonchocolate confectionery exported from Serbia were Bosnia and Herzegovina ($X), Montenegro ($X) and North Macedonia ($X), together comprising 76% of total exports.

In terms of the main countries of destination, North Macedonia, with a CAGR of +3.6%, saw 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

The average export price for candies, sweets, and nonchocolate confectionery stood at $X per ton in 2022, remaining constant against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2021 when the average export price increased by 12% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Slovenia ($X per ton) and Montenegro ($X per ton), while the average price for exports to North Macedonia ($X per ton) and Croatia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Montenegro (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports into Serbia

In 2022, overseas purchases of candies, sweets, and nonchocolate confectionery decreased by -11.7% to X tons for the first time since 2015, thus ending a six-year rising trend. Overall, imports, however, recorded strong growth. The most prominent rate of growth was recorded in 2019 when imports increased by 32%. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, candy, sweets, and nonchocolate confectionery imports contracted slightly to $X in 2022. In general, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 53%. Imports peaked at $X in 2021, and then shrank modestly in the following year.

Imports by Country

Germany (X tons), Turkey (X tons) and Poland (X tons) were the main suppliers of candy, sweets, and nonchocolate confectionery imports to Serbia, together accounting for 59% of total imports. Spain, Russia, North Macedonia, Belgium, Ukraine, Croatia, Austria and the Czech Republic lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +103.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Turkey ($X) and Poland ($X) constituted the largest candy, sweets, and nonchocolate confectionery suppliers to Serbia, with a combined 58% share of total imports. Spain, Croatia, Belgium, Austria, North Macedonia, Ukraine, Russia and the Czech Republic lagged somewhat behind, together comprising a further 30%.

In terms of the main suppliers, Ukraine, with a CAGR of +93.8%, saw 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 import price for candies, sweets, and nonchocolate confectionery amounted to $X per ton, growing by 7.7% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 20%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+1.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform