Serbia: Vegetable Waxes Market 2024

Vegetable Waxes Market Size in Serbia

The Serbian vegetable waxes market contracted slightly to $X in 2022, stabilizing at the previous year. Overall, consumption continues to indicate a deep setback. The most prominent rate of growth was recorded in 2021 when the market value increased by X% against the previous year. Vegetable waxes consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Vegetable Waxes Production in Serbia

In value terms, vegetable waxes production fell modestly to $X in 2022 estimated in export price. Overall, production saw a deep downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Vegetable Waxes Exports

Exports from Serbia

In 2022, the amount of vegetable waxes exported from Serbia contracted notably to X kg, shrinking by X% compared with 2021. In general, exports showed a deep contraction. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, vegetable waxes exports declined remarkably to $X in 2022. Overall, exports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then shrank notably in the following year.

Exports by Country

Montenegro (X kg), Germany (X kg) and Estonia (X kg) were the main destinations of vegetable waxes exports from Serbia, with a combined X% share of total exports. Switzerland, Slovenia, Bosnia and Herzegovina and Ireland lagged somewhat behind, together accounting for a further X%.

From 2015 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovenia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Montenegro ($X), Slovenia ($X) and Estonia ($X) constituted the largest markets for vegetable waxes exported from Serbia worldwide, with a combined X% share of total exports.

Slovenia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vegetable waxes export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the export price, however, saw a significant expansion. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

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 Slovenia ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Waxes Imports

Imports into Serbia

In 2022, approx. X tons of vegetable waxes were imported into Serbia; waning by X% on the previous year's figure. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then dropped markedly in the following year.

In value terms, vegetable waxes imports fell notably to $X in 2022. Overall, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then dropped rapidly in the following year.

Imports by Country

Bulgaria (X tons), the United States (X tons) and Sweden (X kg) were the main suppliers of vegetable waxes imports to Serbia, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Bulgaria ($X) and the United States ($X) constituted the largest vegetable waxes suppliers to Serbia, with a combined X% share of total imports.

Bulgaria, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average vegetable waxes import price amounted to $X per ton, dropping by X% against the previous year. In general, the import price, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 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 ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform