Serbia: Vinegar Market 2024

Vinegar Market Size in Serbia

The Serbian vinegar market surged to $X in 2022, jumping by X% against the previous year. Over the period under review, consumption, however, faced a precipitous setback. Vinegar consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Vinegar Production in Serbia

In value terms, vinegar production surged to $X in 2022 estimated in export price. In general, production, however, saw a sharp curtailment. The growth pace was the most rapid in 2018 with an increase of X%. Vinegar production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Vinegar Exports

Exports from Serbia

In 2022, shipments abroad of vinegar decreased by X% to X tons, falling for the second year in a row after four years of growth. Over the period under review, exports continue to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, vinegar exports dropped to $X in 2022. Overall, exports saw a slight reduction. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for vinegar exports from Serbia, with a X% share of total exports. Moreover, vinegar exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Montenegro (X tons), threefold. The third position in this ranking was held by Switzerland (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bosnia and Herzegovina totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (X% per year) and Switzerland (X% per year).

In value terms, Bosnia and Herzegovina ($X), Montenegro ($X) and Switzerland ($X) were the largest markets for vinegar exported from Serbia worldwide, with a combined X% share of total exports.

Among the main countries of destination, Switzerland, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average vinegar export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average 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 Slovenia ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vinegar Imports

Imports into Serbia

Vinegar imports into Serbia soared to X tons in 2022, surging by X% on 2021. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, vinegar imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Slovenia (X tons) constituted the largest vinegar supplier to Serbia, with a X% share of total imports. Moreover, vinegar imports from Slovenia exceeded the figures recorded by the second-largest supplier, Slovakia (X tons), fourfold. Poland (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Slovenia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (X% per year) and Poland (X% per year).

In value terms, the largest vinegar suppliers to Serbia were Italy ($X), Slovenia ($X) and Slovakia ($X), together comprising X% of total imports.

Among the main suppliers, Slovenia, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vinegar import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price, however, recorded a deep setback. The pace of growth appeared the most rapid in 2014 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform