Hungary: Market for Preparations Used In Animal Feeding 2024

Market Size for Preparations Used In Animal Feeding in Hungary

The Hungarian preparations for animal feeding market soared to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Preparations Used In Animal Feeding in Hungary

In value terms, preparations for animal feeding production soared to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, production attained the peak level and is likely to continue growth in the immediate term.

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Exports of Preparations Used In Animal Feeding

Exports from Hungary

In 2022, after two years of growth, there was significant decline in shipments abroad of preparations used in animal feeding, when their volume decreased by X% to X tons. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The exports peaked at X tons in 2021, and then declined in the following year.

In value terms, preparations for animal feeding exports rose sharply to $X in 2022. In general, total exports indicated a prominent increase from 2012 to 2022: its value 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, exports increased by X% against 2016 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Romania (X tons) was the main destination for preparations for animal feeding exports from Hungary, with a X% share of total exports. Moreover, preparations for animal feeding exports to Romania exceeded the volume sent to the second major destination, Poland (X tons), fourfold. Croatia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Romania amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (X% per year) and Croatia (X% per year).

In value terms, Romania ($X), Germany ($X) and Poland ($X) appeared to be the largest markets for preparations for animal feeding exported from Hungary worldwide, with a combined X% share of total exports. Austria, Italy, France, the UK, the Czech Republic, Croatia, Ukraine, Serbia, Slovakia and the Netherlands lagged somewhat behind, together comprising a further X%.

Serbia, with a CAGR of X%, saw 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 preparations for animal feeding export price amounted to $X per ton, rising by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Slovakia ($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 Austria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Preparations Used In Animal Feeding

Imports into Hungary

In 2022, overseas purchases of preparations used in animal feeding were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports showed strong growth. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, preparations for animal feeding imports soared to $X in 2022. Overall, imports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Austria (X tons), Ukraine (X tons) and Germany (X tons) were the main suppliers of preparations for animal feeding imports to Hungary, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Austria ($X) and Poland ($X) were the largest preparations for animal feeding suppliers to Hungary, together comprising X% of total imports. The Czech Republic, France, the Netherlands, Ukraine, Italy, Slovakia, Belgium, Spain and Croatia lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Ukraine, 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 preparations for animal feeding import price stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

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