Serbia: Dairy Machinery Market 2024

Dairy Machinery Market Size in Serbia

The Serbian dairy machinery market shrank remarkably to $X in 2022, dropping by -54.5% against the previous year. In general, consumption showed a perceptible curtailment. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Dairy Machinery Production in Serbia

In value terms, dairy machinery production fell markedly to $X in 2022 estimated in export price. In general, production, however, saw prominent growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 202%. Dairy machinery production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Dairy Machinery Exports

Exports from Serbia

In 2022, overseas shipments of dairy machinery increased by 38% to X units, rising for the second year in a row after two years of decline. Overall, exports saw mild growth. The most prominent rate of growth was recorded in 2018 when exports increased by 133% against the previous year. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, dairy machinery exports soared to $X in 2022. Over the period under review, exports showed perceptible growth. The growth pace was the most rapid in 2013 when exports increased by 225% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for dairy machinery exports from Serbia, with a 66% share of total exports. Moreover, dairy machinery exports to Germany exceeded the volume sent to the second major destination, Croatia (X units), sixfold. The third position in this ranking was held by North Macedonia (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Germany totaled +33.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (-15.1% per year) and North Macedonia (-6.3% per year).

In value terms, Germany ($X) emerged as the key foreign market for dairy machinery exports from Serbia, comprising 51% of total exports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with a 20% share of total exports. It was followed by Croatia, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to +48.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+1.1% per year) and Croatia (-16.0% per year).

Export Prices by Country

In 2022, the average dairy machinery export price amounted to $X per unit, dropping by -2.4% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy machinery export price increased by +27.4% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 56% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per unit), while the average price for exports to Germany ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Dairy Machinery Imports

Imports into Serbia

In 2022, approx. X units of dairy machinery were imported into Serbia; waning by -14.3% against the previous year's figure. Over the period under review, imports showed a deep downturn. The pace of growth appeared the most rapid in 2017 with an increase of 208%. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, dairy machinery imports shrank notably to $X in 2022. In general, imports saw a abrupt setback. The pace of growth appeared the most rapid in 2018 with an increase of 334% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Italy (X units), Switzerland (X units) and Greece (X units) were the main suppliers of dairy machinery imports to Serbia, with a combined 76% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +22.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Slovenia ($X) and Sweden ($X) appeared to be the largest dairy machinery suppliers to Serbia, together accounting for 79% of total imports. Greece, Denmark, Switzerland and Turkey lagged somewhat behind, together comprising a further 21%.

In terms of the main suppliers, Greece, with a CAGR of +34.1%, 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 dairy machinery import price amounted to $X per unit, with a decrease of -9.1% against the previous year. Over the period under review, the import price recorded a perceptible decline. The pace of growth was the most pronounced in 2018 an increase of 85%. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 Slovenia ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform