Serbia: Market for Vegetables (Preserved, Frozen) 2024

Market Size for Vegetables (Preserved, Frozen) in Serbia

The Serbian preserved and frozen vegetable market skyrocketed to $X in 2022, surging by 34% against the previous year. In general, consumption recorded resilient growth. Preserved and frozen vegetable consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Vegetables (Preserved, Frozen) in Serbia

In value terms, preserved and frozen vegetable production skyrocketed to $X in 2022 estimated in export price. In general, production showed a strong increase. The pace of growth was the most pronounced in 2015 when the production volume increased by 146% against the previous year. Preserved and frozen vegetable production peaked in 2022 and is expected to retain growth in years to come.

Exports of Vegetables (Preserved, Frozen)

Exports from Serbia

In 2022, overseas shipments of vegetables (preserved, frozen) decreased by -43.1% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, showed slight growth. The most prominent rate of growth was recorded in 2017 when exports increased by 259%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, preserved and frozen vegetable exports fell significantly to $X in 2022. Overall, exports, however, recorded a temperate expansion. The growth pace was the most rapid in 2017 when exports increased by 255%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Montenegro (X tons), Germany (X tons) and the Czech Republic (X tons) were the main destinations of preserved and frozen vegetable exports from Serbia, together accounting for 57% of total exports. Romania, Croatia, Slovenia, France, Bosnia and Herzegovina and Belgium lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of +75.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved and frozen vegetable exported from Serbia were Montenegro ($X), the Czech Republic ($X) and Germany ($X), together accounting for 51% of total exports. France, Slovenia, Croatia, Romania, Bosnia and Herzegovina and Belgium lagged somewhat behind, together accounting for a further 26%.

France, with a CAGR of +77.1%, recorded the highest growth rate of the value of exports, in terms of 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

In 2022, the average preserved and frozen vegetable export price amounted to $X per ton, with an increase of 36% against the previous year. In general, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preserved and frozen vegetable export price increased by +66.8% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Bosnia and Herzegovina ($X per ton), while the average price for exports to Germany ($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 Hungary (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vegetables (Preserved, Frozen)

Imports into Serbia

For the sixth year in a row, Serbia recorded growth in purchases abroad of vegetables (preserved, frozen), which increased by 11% to X tons in 2022. Overall, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2018 when imports increased by 50%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, preserved and frozen vegetable imports soared to $X in 2022. In general, imports saw a resilient expansion. The growth pace was the most rapid in 2018 with an increase of 47% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Belgium (X tons) constituted the largest preserved and frozen vegetable supplier to Serbia, accounting for a 64% share of total imports. Moreover, preserved and frozen vegetable imports from Belgium exceeded the figures recorded by the second-largest supplier, Poland (X tons), fourfold. The Netherlands (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium totaled +38.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+1.0% per year) and the Netherlands (+3.1% per year).

In value terms, Belgium ($X) constituted the largest supplier of vegetables (preserved, frozen) to Serbia, comprising 60% of total imports. The second position in the ranking was held by Poland ($X), with a 16% share of total imports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium totaled +43.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+3.0% per year) and the Netherlands (+7.3% per year).

Import Prices by Country

In 2022, the average preserved and frozen vegetable import price amounted to $X per ton, with an increase of 23% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($X per ton) and Poland ($X per ton), while the price for Belgium ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform