Serbia: Dairy Spread Market 2025

Dairy Spread Market Size in Serbia

The Serbian dairy spread market expanded rapidly to $X in 2022, picking up by 11% against the previous year. In general, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +142.2% against 2016 indices. Dairy spread consumption peaked in 2022 and is likely to continue growth in the immediate term.

Dairy Spread Production in Serbia

In value terms, dairy spread production soared to $X in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +39.9% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 63%. Dairy spread production peaked in 2022 and is likely to continue growth in years to come.

Dairy Spread Exports

Exports from Serbia

In 2022, shipments abroad of dairy spreads increased by less than 0.1% to X tons, rising for the second year in a row after two years of decline. Over the period under review, total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +3.4% 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 +15.3% against 2020 indices. The growth pace was the most rapid in 2015 when exports increased by 26%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, dairy spread exports rose sharply to $X in 2022. Overall, total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +36.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 28%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Montenegro (X tons), Bosnia and Herzegovina (X tons) and North Macedonia (X tons) were the main destinations of dairy spread exports from Serbia, together accounting for 88% of total exports. Croatia and Slovenia lagged somewhat behind, together comprising a further 7.8%.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of +211.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Montenegro ($X), Bosnia and Herzegovina ($X) and North Macedonia ($X) were the largest markets for dairy spread exported from Serbia worldwide, with a combined 87% share of total exports. Croatia and Slovenia lagged somewhat behind, together accounting for a further 8.9%.

Croatia, with a CAGR of +223.0%, recorded the highest growth rate of 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 dairy spread export price stood at $X per ton in 2022, growing by 12% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Dairy Spread Imports

Imports into Serbia

In 2022, overseas purchases of dairy spreads decreased by -25.9% to X tons, falling for the second year in a row after three years of growth. In general, imports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2019 when imports increased by 93% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, dairy spread imports reduced notably to $X in 2022. Overall, imports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 77% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest dairy spread supplier to Serbia, with a 59% share of total imports. Moreover, dairy spread imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. Romania (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +34.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+3.5% per year) and Romania (-55.0% per year).

In value terms, Germany ($X) constituted the largest supplier of dairy spreads to Serbia, comprising 63% of total imports. The second position in the ranking was taken by France ($X), with a 22% share of total imports. It was followed by Romania, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +39.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+6.1% per year) and Romania (-45.3% per year).

Import Prices by Country

The average dairy spread import price stood at $X per ton in 2022, rising by 14% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2021 an increase of 16%. The import price peaked 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 Bosnia and Herzegovina ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+21.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform