Serbia: Dairy Produce Market 2024

Dairy Produce Market Size in Serbia

The Serbian dairy produce market expanded remarkably to $X in 2022, surging by X% against the previous year. In general, consumption, however, showed a mild downturn. The most prominent rate of growth was recorded in 2020 when the market value increased by X%. Dairy produce consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Dairy Produce Production in Serbia

In value terms, dairy produce production fell modestly to $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Dairy produce production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Dairy Produce Exports

Exports from Serbia

In 2022, exports of dairy produce from Serbia reduced to X tons, waning by X% on the year before. Overall, exports, however, showed notable growth. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, dairy produce exports rose slightly to $X in 2022. Over the period under review, total exports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2016 indices. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

North Macedonia (X tons), Montenegro (X tons) and Russia (X tons) were the main destinations of dairy produce exports from Serbia, with a combined X% share of total exports. Bulgaria, Albania, Bosnia and Herzegovina and Croatia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bulgaria (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for dairy produce exported from Serbia were Russia ($X), Montenegro ($X) and North Macedonia ($X), with a combined X% share of total exports. Bosnia and Herzegovina, Bulgaria, Croatia and Albania lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Bulgaria, with a CAGR of X%, recorded 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 dairy produce export price stood at $X per ton in 2022, surging by X% against the previous year. In general, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy produce export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 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 Russia ($X per ton), while the average price for exports to Albania ($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 Bosnia and Herzegovina (X%), while the prices for the other major destinations experienced more modest paces of growth.

Dairy Produce Imports

Imports into Serbia

After two years of decline, purchases abroad of dairy produce increased by X% to X tons in 2022. In general, imports recorded strong growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, dairy produce imports soared to $X in 2022. Over the period under review, imports saw a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Bosnia and Herzegovina (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of dairy produce imports to Serbia, together accounting for X% of total imports. Croatia, Hungary, France, Slovenia and North Macedonia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest dairy produce suppliers to Serbia were Germany ($X), Poland ($X) and Bosnia and Herzegovina ($X), with a combined X% share of total imports. Hungary, Croatia, France, Slovenia and North Macedonia lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Hungary, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average dairy produce import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy produce import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2013 an increase of X%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

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 France ($X per ton), while the price for Bosnia and Herzegovina ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform