Hungary: Market for Processed cheese (excluding grated or powdered) 2024

Market Size for Processed cheese (excluding grated or powdered) in Hungary

In 2022, the Hungarian market for processed cheese (excluding grated or powdered) decreased by X% to $X, falling for the second consecutive year after four years of growth. Overall, consumption saw a pronounced reduction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Processed cheese (excluding grated or powdered) in Hungary

In value terms, production of processed cheese (excluding grated or powdered) rose slightly to $X in 2022 estimated in export price. Overall, production saw a perceptible descent. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. Over the period under review, production of hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Processed cheese (excluding grated or powdered)

Exports from Hungary

After four years of decline, shipments abroad of processed cheese (excluding grated or powdered) increased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, exports of processed cheese (excluding grated or powdered) surged to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports of reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X tons), Romania (X tons) and Lebanon (X tons) were the main destinations of exports of processed cheese (excluding grated or powdered) from Hungary, together accounting for X% of total exports. Iraq, Libya, Jordan, Spain, Serbia, Germany and Saudi Arabia 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 Libya (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) remains the key foreign market for processed cheese (excluding grated or powdered) exports from Hungary, comprising X% of total exports. The second position in the ranking was held by Romania ($X), with a X% share of total exports. It was followed by Iraq, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (X% per year) and Iraq (X% per year).

Export Prices by Country

In 2022, the average export price for processed cheese (excluding grated or powdered) amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

Imports of Processed cheese (excluding grated or powdered)

Imports into Hungary

Imports of processed cheese (excluding grated or powdered) into Hungary expanded markedly to X tons in 2022, with an increase of X% on 2021. Overall, total imports indicated a pronounced increase from 2012 to 2022: its volume 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, imports increased by X% against 2014 indices. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of processed cheese (excluding grated or powdered) surged to $X in 2022. Over the period under review, total imports indicated a resilient expansion 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, imports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of processed cheese (excluding grated or powdered) to Hungary, accounting for a X% share of total imports. Moreover, imports of processed cheese (excluding grated or powdered) from Germany exceeded the figures recorded by the second-largest supplier, Austria (X tons), fourfold. The third position in this ranking was taken by Slovakia (X tons), with a X% share.

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

In value terms, Germany ($X) constituted the largest supplier of processed cheese (excluding grated or powdered) to Hungary, comprising X% of total imports. The second position in the ranking was held by Austria ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (X% per year) and the Netherlands (X% per year).

Import Prices by Country

The average import price for processed cheese (excluding grated or powdered) stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :