Serbia: Malt Market 2024

Malt Market Size in Serbia

The Serbian malt market expanded significantly to $X in 2022, surging by 12% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Malt Production in Serbia

In value terms, malt production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 26%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Malt Exports

Exports from Serbia

After six years of growth, overseas shipments of malt decreased by -34.1% to X tons in 2022. Overall, exports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2016 with an increase of 202% against the previous year. The exports peaked at X tons in 2021, and then shrank remarkably in the following year.

In value terms, malt exports dropped rapidly to $X in 2022. In general, exports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 174% against the previous year. The exports peaked at $X in 2021, and then dropped remarkably in the following year.

Exports by Country

Montenegro (X tons), North Macedonia (X tons) and Greece (X tons) were the main destinations of malt exports from Serbia, together comprising 83% of total exports. Romania and Albania lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +255.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Montenegro ($X), Greece ($X) and North Macedonia ($X) constituted the largest markets for malt exported from Serbia worldwide, with a combined 84% share of total exports. Romania and Albania lagged somewhat behind, together comprising a further 16%.

Among the main countries of destination, Romania, with a CAGR of +178.7%, saw 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 malt export price stood at $X per ton in 2022, with an increase of 10% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 34% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

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 Albania ($X per ton), while the average price for exports to Montenegro ($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 Greece (+3.8%), while the prices for the other major destinations experienced mixed trend patterns.

Malt Imports

Imports into Serbia

In 2022, the amount of malt imported into Serbia skyrocketed to X tons, with an increase of 83% compared with 2021. In general, imports, however, continue to indicate a pronounced decline. The pace of growth appeared the most rapid in 2015 when imports increased by 213%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, malt imports soared to $X in 2022. Over the period under review, imports, however, recorded a slight slump. The growth pace was the most rapid in 2015 when imports increased by 130%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The Czech Republic (X tons), Slovakia (X tons) and Croatia (X tons) were the main suppliers of malt imports to Serbia, with a combined 68% share of total imports. Austria, Germany and Hungary lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +69.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), the Czech Republic ($X) and Slovakia ($X) were the largest malt suppliers to Serbia, together comprising 67% of total imports. Croatia, Germany and Hungary lagged somewhat behind, together accounting for a further 30%.

In terms of the main suppliers, Germany, with a CAGR of +55.9%, 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 malt import price stood at $X per ton in 2022, increasing by 4.5% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 19% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 Germany ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform