Hungary: Chocolate Market 2024

Chocolate Market Size in Hungary

The Hungarian chocolate market surged to $X in 2022, picking up by X% against the previous year. Overall, consumption enjoyed a remarkable increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Chocolate Production in Hungary

In value terms, chocolate production soared to $X in 2022 estimated in export price. Over the period under review, production continues to indicate prominent growth. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Chocolate Exports

Exports from Hungary

Chocolate exports from Hungary surged to X tons in 2022, rising by X% against 2021. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, chocolate exports surged to $X in 2022. In general, exports recorded significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Poland (X tons), Sweden (X tons) and Germany (X tons) were the main destinations of chocolate exports from Hungary, with a combined X% share of total exports. Denmark, the UK, Moldova, Austria, Lithuania, France, Romania, Italy, Norway and the Czech Republic lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for chocolate exported from Hungary were Poland ($X), Germany ($X) and Sweden ($X), together accounting for X% of total exports. France, the UK, Denmark, Italy, the Czech Republic, Austria, Lithuania, Romania, Moldova and Norway lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, surging by X% against the previous year. Overall, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chocolate export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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 France ($X per ton), while the average price for exports to Moldova ($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.

Chocolate Imports

Imports into Hungary

For the third year in a row, Hungary recorded growth in supplies from abroad of chocolate and other food preparations containing cocoa, which increased by X% to X tons in 2022. In general, imports showed a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, chocolate imports expanded modestly to $X in 2022. Overall, imports saw a prominent increase. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Belgium (X tons), Slovakia (X tons) and Serbia (X tons) were the main suppliers of chocolate imports to Hungary, with a combined X% 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 Serbia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate suppliers to Hungary were Belgium ($X), Slovakia ($X) and Serbia ($X), together accounting for X% of total imports.

In terms of the main suppliers, Serbia, 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

In 2022, the average chocolate import price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :