Serbia: Market for Frozen Pig Meat Other Than Cuts Or Carcases 2024

Market Size for Frozen Pig Meat Other Than Cuts Or Carcases in Serbia

For the third consecutive year, the Serbian market for frozen pig meat other than cuts or carcases recorded growth in sales value, which increased by 58% to $X in 2022. Over the period under review, consumption continues to indicate strong growth. Consumption of peaked in 2022 and is likely to continue growth in the near future.

Production of Frozen Pig Meat Other Than Cuts Or Carcases in Serbia

In value terms, production of frozen pig meat other than cuts or carcases skyrocketed to $X in 2022 estimated in export price. In general, production saw a significant expansion. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Frozen Pig Meat Other Than Cuts Or Carcases

Exports from Serbia

In 2022, overseas shipments of frozen pig meat other than cuts or carcases were finally on the rise to reach X tons after four years of decline. Overall, exports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2014 with an increase of 507%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of frozen pig meat other than cuts or carcases skyrocketed to $X in 2022. In general, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2014 with an increase of 713%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

North Macedonia (X tons) and Montenegro (X tons) were the main destinations of exports of frozen pig meat other than cuts or carcases from Serbia.

From 2012 to 2022, the biggest increases were recorded for North Macedonia (with a CAGR of +4.8%).

In value terms, Montenegro ($X) and North Macedonia ($X) appeared to be the largest markets for frozen pig meat other than cuts or carcases exported from Serbia worldwide.

Montenegro, with a CAGR of +8.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average export price for frozen pig meat other than cuts or carcases stood at $X per ton in 2022, rising by 2.6% against the previous year. In general, the export price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by 188%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Montenegro ($X per ton), while the average price for exports to North Macedonia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+18.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Pig Meat Other Than Cuts Or Carcases

Imports into Serbia

For the third year in a row, Serbia recorded growth in overseas purchases of frozen pig meat other than cuts or carcases, which increased by 46% to X tons in 2022. Over the period under review, imports showed a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of 72% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, imports of frozen pig meat other than cuts or carcases soared to $X in 2022. In general, imports saw a strong expansion. The pace of growth was the most pronounced in 2017 when imports increased by 98%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of frozen pig meat other than cuts or carcases to Serbia, with a 74% share of total imports. Moreover, imports of frozen pig meat other than cuts or carcases from Spain exceeded the figures recorded by the second-largest supplier, Hungary (X tons), tenfold. The third position in this ranking was held by the Netherlands (X tons), with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain totaled +25.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+4.7% per year) and the Netherlands (+12.0% per year).

In value terms, Spain ($X) constituted the largest supplier of frozen pig meat other than cuts or carcases to Serbia, comprising 73% of total imports. The second position in the ranking was taken by Russia ($X), with a 6.6% share of total imports. It was followed by Hungary, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at +22.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+46.0% per year) and Hungary (+2.4% per year).

Import Prices by Country

The average import price for frozen pig meat other than cuts or carcases stood at $X per ton in 2022, rising by 11% against the previous year. In general, the import price, however, recorded a slight shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 15% against the previous year. 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 Russia ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform