Serbia: Fats Preparation Machinery Market 2024

Fats Preparation Machinery Market Size in Serbia

In 2022, the Serbian fats preparation machinery market increased by 34% to $X, rising for the second consecutive year after three years of decline. In general, consumption enjoyed prominent growth. Fats preparation machinery consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Fats Preparation Machinery Production in Serbia

In value terms, fats preparation machinery production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 32%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Fats Preparation Machinery Exports

Exports from Serbia

In 2022, exports of machinery for the extraction or preparation of animal or fixed vegetable fats or oils from Serbia reached X units, surging by 12% against the year before. In general, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 638%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, fats preparation machinery exports soared to $X in 2022. Overall, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 404% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Bulgaria (X units), Montenegro (X units) and Germany (X units) were the main destinations of fats preparation machinery exports from Serbia, with a combined 68% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Montenegro (with a CAGR of +23.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for machinery for the extraction or preparation of animal or fixed vegetable fats or oils exports from Serbia, comprising 36% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a 17% share of total exports. It was followed by Austria, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +40.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+32.2% per year) and Austria (+9.2% per year).

Export Prices by Country

The average fats preparation machinery export price stood at $X per unit in 2022, surging by 73% against the previous year. In general, the export price showed moderate growth. The pace of growth appeared the most rapid in 2017 an increase of 229%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per unit), while the average price for exports to Poland ($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 Russia (+144.8%), while the prices for the other major destinations experienced more modest paces of growth.

Fats Preparation Machinery Imports

Imports into Serbia

In 2022, approx. X units of machinery for the extraction or preparation of animal or fixed vegetable fats or oils were imported into Serbia; jumping by 186% against the previous year. In general, imports posted a strong expansion. The growth pace was the most rapid in 2014 when imports increased by 271%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, fats preparation machinery imports surged to $X in 2022. Over the period under review, imports recorded a significant expansion. The growth pace was the most rapid in 2014 with an increase of 503%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest fats preparation machinery supplier to Serbia, with a 77% share of total imports. Moreover, fats preparation machinery imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), eightfold. The third position in this ranking was held by Switzerland (X units), with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +66.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+14.9% per year) and Switzerland (+7.2% per year).

In value terms, China ($X) constituted the largest supplier of machinery for the extraction or preparation of animal or fixed vegetable fats or oils to Serbia, comprising 88% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 4.2% share of total imports. It was followed by Croatia, with a 1.6% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +121.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+2.7% per year) and Croatia (+68.2% per year).

Import Prices by Country

In 2022, the average fats preparation machinery import price amounted to $X per unit, increasing by 10% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 63%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (+43.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform