Serbia: Vinegar-Preserved Vegetable Market 2024

Vinegar-Preserved Vegetable Market Size in Serbia

After two years of growth, the Serbian vinegar-preserved vegetable market decreased by -17.1% to $X in 2022. Overall, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Vinegar-preserved vegetable consumption peaked at $X in 2021, and then contracted rapidly in the following year.

Vinegar-Preserved Vegetable Production in Serbia

In value terms, vinegar-preserved vegetable production surged to $X in 2022 estimated in export price. Overall, production saw a prominent increase. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Vinegar-Preserved Vegetable Exports

Exports from Serbia

In 2022, approx. X tons of vegetables in vinegar other than potatoes were exported from Serbia; jumping by 33% compared with 2021. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 51%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, vinegar-preserved vegetable exports skyrocketed to $X in 2022. In general, exports posted a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 40%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Germany (X tons) was the main destination for vinegar-preserved vegetable exports from Serbia, accounting for a 56% share of total exports. Moreover, vinegar-preserved vegetable exports to Germany exceeded the volume sent to the second major destination, Montenegro (X tons), fivefold. The third position in this ranking was taken by Hungary (X tons), with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to +83.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (+8.5% per year) and Hungary (+30.7% per year).

In value terms, Germany ($X) remains the key foreign market for vegetables in vinegar other than potatoes exports from Serbia, comprising 54% of total exports. The second position in the ranking was held by Montenegro ($X), with a 12% share of total exports. It was followed by Bosnia and Herzegovina, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +68.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (+5.5% per year) and Bosnia and Herzegovina (+15.9% per year).

Export Prices by Country

In 2022, the average vinegar-preserved vegetable export price amounted to $X per ton, surging by 3.9% against the previous year. Over the period under review, the export price, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2020 when the average export price increased by 9.5%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Hungary ($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 Russia (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vinegar-Preserved Vegetable Imports

Imports into Serbia

After four years of growth, purchases abroad of vegetables in vinegar other than potatoes decreased by -2.3% to X tons in 2022. Overall, imports, however, continue to indicate a notable increase. The most prominent rate of growth was recorded in 2018 with an increase of 62%. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, vinegar-preserved vegetable imports stood at $X in 2022. Over the period under review, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 71%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

North Macedonia (X tons), Germany (X tons) and Croatia (X tons) were the main suppliers of vinegar-preserved vegetable imports to Serbia, with a combined 77% share of total imports.

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 +118.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, North Macedonia ($X) constituted the largest supplier of vegetables in vinegar other than potatoes to Serbia, comprising 37% of total imports. The second position in the ranking was taken by Croatia ($X), with a 17% share of total imports. It was followed by Germany, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from North Macedonia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (+12.8% per year) and Germany (+71.5% per year).

Import Prices by Country

In 2022, the average vinegar-preserved vegetable import price amounted to $X per ton, with an increase of 2.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2017 when the average import price increased by 8.2%. The import price peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform