Serbia: Non-Electric Bakery Oven Market 2024

Non-Electric Bakery Oven Market Size in Serbia

After three years of growth, the Serbian non-electric bakery oven market decreased by -49.7% to $X in 2022. In general, consumption, however, continues to indicate resilient growth. Non-electric bakery oven consumption peaked at $X in 2021, and then contracted significantly in the following year.

Non-Electric Bakery Oven Production in Serbia

In value terms, non-electric bakery oven production expanded sharply to $X in 2022 estimated in export price. In general, production, however, saw a abrupt contraction. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Non-Electric Bakery Oven Exports

Exports from Serbia

In 2022, exports of non-electric bakery ovens from Serbia fell to X units, shrinking by -3.4% on the year before. Over the period under review, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 107%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-electric bakery oven exports dropped markedly to $X in 2022. In general, exports saw a abrupt downturn. The pace of growth was the most pronounced in 2021 when exports increased by 42% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

North Macedonia (X units), Montenegro (X units) and Croatia (X units) were the main destinations of non-electric bakery oven exports from Serbia, together accounting for 57% of total exports. Romania, Bosnia and Herzegovina, Austria and Italy lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +14.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-electric bakery oven exported from Serbia were North Macedonia ($X), Montenegro ($X) and Croatia ($X), together accounting for 59% of total exports. Bosnia and Herzegovina, Romania, Italy and Austria lagged somewhat behind, together accounting for a further 37%.

In terms of the main countries of destination, Austria, with a CAGR of +27.3%, saw the highest rates of growth with regard to 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

In 2022, the average non-electric bakery oven export price amounted to $X per unit, waning by -46.6% against the previous year. In general, the export price, however, continues to indicate a notable increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by 80%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Austria ($X per unit) and North Macedonia ($X per unit), while the average price for exports to Romania ($X per unit) and Montenegro ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+22.9%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Bakery Oven Imports

Imports into Serbia

In 2022, supplies from abroad of non-electric bakery ovens decreased by -45.6% to X units for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, posted a slight increase. The pace of growth appeared the most rapid in 2014 when imports increased by 1,285% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, non-electric bakery oven imports dropped sharply to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 1,438% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Slovenia (X units) constituted the largest non-electric bakery oven supplier to Serbia, with a 68% share of total imports. Moreover, non-electric bakery oven imports from Slovenia exceeded the figures recorded by the second-largest supplier, Italy (X units), sixfold. The third position in this ranking was held by Hungary (X units), with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Slovenia amounted to +50.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-7.4% per year) and Hungary (+33.4% per year).

In value terms, Slovenia ($X) constituted the largest supplier of non-electric bakery ovens to Serbia, comprising 73% of total imports. The second position in the ranking was held by Italy ($X), with a 12% share of total imports. It was followed by Germany, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Slovenia amounted to +86.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-7.7% per year) and Germany (+29.5% per year).

Import Prices by Country

The average non-electric bakery oven import price stood at $X per unit in 2022, falling by -10.3% against the previous year. Over the period under review, the import price saw a slight decrease. The pace of growth appeared the most rapid in 2014 an increase of 11%. Over the period under review, average import prices reached the maximum at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform