Serbia: Vegetable Puree Market 2024

Vegetable Puree Market Size in Serbia

In 2022, the Serbian vegetable puree market increased by 18% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption posted resilient growth. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the immediate term.

Vegetable Puree Production in Serbia

In value terms, vegetable puree production plummeted to $X in 2022 estimated in export price. In general, production continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2019 with an increase of 430% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Vegetable Puree Exports

Exports from Serbia

In 2022, shipments abroad of vegetable puree decreased by -60% to X tons, falling for the third consecutive year after two years of growth. Overall, exports saw a noticeable descent. The most prominent rate of growth was recorded in 2018 with an increase of 339%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, vegetable puree exports fell notably to $X in 2022. In general, exports showed a perceptible slump. The growth pace was the most rapid in 2019 with an increase of 642%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Montenegro (X tons), Bosnia and Herzegovina (X tons) and Slovakia (X kg) were the main destinations of vegetable puree exports from Serbia, with a combined 98% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bosnia and Herzegovina (with a CAGR of +2.0%), while the other leaders experienced a decline.

In value terms, Montenegro ($X), Bosnia and Herzegovina ($X) and Slovakia ($X) constituted the largest markets for vegetable puree exported from Serbia worldwide, together accounting for 98% of total exports.

Among the main countries of destination, Bosnia and Herzegovina, with a CAGR of -1.6%, 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 a decline.

Export Prices by Country

The average vegetable puree export price stood at $X per ton in 2022, growing by 51% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 138%. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while the average price for exports to Croatia ($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 Slovakia (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Puree Imports

Imports into Serbia

In 2022, approx. X tons of vegetable puree were imported into Serbia; with an increase of 160% on 2021 figures. Over the period under review, imports, however, continue to indicate a perceptible reduction. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, vegetable puree imports reduced modestly to $X in 2022. In general, imports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 170% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of vegetable puree to Serbia, accounting for a 85% share of total imports. Moreover, vegetable puree imports from Italy exceeded the figures recorded by the second-largest supplier, Hungary (X tons), ninefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy amounted to +128.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (-21.8% per year) and Germany (-15.6% per year).

In value terms, Italy ($X) constituted the largest supplier of vegetable puree to Serbia, comprising 60% of total imports. The second position in the ranking was held by Hungary ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy stood at +130.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (-20.4% per year) and Germany (-15.8% per year).

Import Prices by Country

The average vegetable puree import price stood at $X per ton in 2022, which is down by -61.7% against the previous year. Overall, the import price saw a abrupt contraction. The pace of growth appeared the most rapid in 2020 an increase of 54%. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then reduced dramatically in the following year.

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 Hungary ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform