Slovakia: Market for Butter And Dairy Spreads 2024

Market Size for Butter And Dairy Spreads in Slovakia

In 2022, the Slovak butter and dairy spreads market increased by 20% to $X, rising for the third consecutive year after two years of decline. In general, consumption showed a prominent increase. Butter and dairy spreads consumption peaked in 2022 and is likely to see steady growth in the near future.

Exports of Butter And Dairy Spreads

Exports from Slovakia

In 2022, the amount of butter and dairy spreads exported from Slovakia dropped to X tons, with a decrease of -8.3% against the previous year's figure. In general, exports recorded a abrupt slump. The growth pace was the most rapid in 2018 with an increase of 60%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, butter and dairy spreads exports surged to $X in 2022. Over the period under review, exports saw a mild shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 49% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The Czech Republic (X tons), Hungary (X tons) and Austria (X tons) were the main destinations of butter and dairy spreads exports from Slovakia, together comprising 83% of total exports. Romania and South Korea lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +144.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for butter and dairy spreads exported from Slovakia were the Czech Republic ($X), Hungary ($X) and Romania ($X), together accounting for 87% of total exports. Austria and South Korea lagged somewhat behind, together accounting for a further 7.7%.

Among the main countries of destination, South Korea, with a CAGR of +169.7%, saw 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 butter and dairy spreads export price stood at $X per ton in 2022, increasing by 26% against the previous year. Over the period under review, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads export price increased by +112.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 43%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

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 South Korea ($X per ton), while the average price for exports to Austria ($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 South Korea (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Butter And Dairy Spreads

Imports into Slovakia

In 2022, approx. X tons of butter and dairy spreads were imported into Slovakia; rising by 3.3% against 2021 figures. The total import volume increased at an average annual rate of +4.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 19% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2016; afterwards, it flattened through to 2022.

In value terms, butter and dairy spreads imports surged to $X in 2022. In general, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +8.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +67.3% against 2019 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 33% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Germany (X tons) constituted the largest butter and dairy spreads supplier to Slovakia, with a 58% share of total imports. Moreover, butter and dairy spreads imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+0.0% per year) and the Czech Republic (-5.2% per year).

In value terms, Germany ($X), Poland ($X) and the Czech Republic ($X) appeared to be the largest butter and dairy spreads suppliers to Slovakia, together comprising 91% of total imports.

Germany, with a CAGR of +14.0%, 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 mixed trend patterns.

Import Prices by Country

The average butter and dairy spreads import price stood at $X per ton in 2022, increasing by 20% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads import price increased by +56.9% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 48% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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