Hungary: Vitamin Market Overview 2020

Vitamin Market Size in Hungary

The revenue of the vitamin market in Hungary amounted to $X in 2018, declining by -X% against the previous year. Overall, vitamin consumption continues to indicate a deep downturn. The pace of growth was the most pronounced in 2014 with an increase of X% year-to-year. In that year, the vitamin market attained its peak level of $X. From 2015 to 2018, the growth of the vitamin market failed to regain its momentum.

Vitamin Production in Hungary

In value terms, vitamin production totaled $X in 2018 estimated in export prices. Over the period under review, vitamin production continues to indicate a precipitous reduction. The most prominent rate of growth was recorded in 2018 when production volume decreased by -X% against the previous year. Vitamin production peaked at $X in 2007; however, from 2008 to 2018, production remained at a lower figure.

Vitamin Exports

Exports from Hungary

In 2018, the amount of provitamins and vitamins exported from Hungary totaled X tonnes, going down by -X% against the previous year. Overall, vitamin exports, however, continue to indicate a resilient increase. The pace of growth was the most pronounced in 2017 with an increase of X% y-o-y. In that year, vitamin exports attained their peak of X tonnes, and then declined slightly in the following year.

In value terms, vitamin exports amounted to $X in 2018. Overall, vitamin exports, however, continue to indicate an extraordinary increase. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, vitamin exports attained their peak figure in 2018 and are likely to see steady growth in the immediate term.

Exports by Country

Romania (X tonnes) was the main destination for vitamin exports from Hungary, with a X% share of total exports. Moreover, vitamin exports to Romania exceeded the volume sent to the second major destination, Finland (X tonnes), sevenfold. The third position in this ranking was occupied by Spain (X tonnes), with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of volume to Romania stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+X% per year) and Spain (+X% per year).

In value terms, Romania ($X) remains the key foreign market for vitamin exports from Hungary, comprising X% of total vitamin exports. The second position in the ranking was occupied by Portugal ($X), with a X% share of total exports. It was followed by Spain, with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of value to Romania stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (+X% per year) and Spain (+X% per year).

Export Prices by Country

The average vitamin export price stood at $X per tonne in 2018, increasing by X% against the previous year. In general, the vitamin export price continues to indicate buoyant growth. The pace of growth was the most pronounced in 2014 an increase of X% y-o-y. In that year, the average export prices for provitamins and vitamins attained their peak level of $X per tonne. From 2015 to 2018, the growth in terms of the average export prices for provitamins and vitamins remained at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Portugal ($X per tonne), while the average price for exports to Romania ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Algeria, while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into Hungary

In 2018, approx. X tonnes of provitamins and vitamins were imported into Hungary; declining by -X% against the previous year. Overall, the total imports indicated a strong expansion from 2007 to 2018: its volume increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, vitamin imports decreased by -X% against 2014 indices. The growth pace was the most rapid in 2008 with an increase of X% y-o-y. Over the period under review, vitamin imports reached their peak figure at X tonnes in 2014; however, from 2015 to 2018, imports remained at a lower figure.

In value terms, vitamin imports totaled $X in 2018. In general, the total imports indicated conspicuous growth from 2007 to 2018: its value increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, vitamin imports decreased by -X% against 2014 indices. The pace of growth appeared the most rapid in 2008 when imports increased by X% year-to-year. Over the period under review, vitamin imports attained their peak figure at $X in 2014; however, from 2015 to 2018, imports remained at a lower figure.

Imports by Country

Germany (X tonnes), the Netherlands (X tonnes) and Poland (X tonnes) were the main suppliers of vitamin imports to Hungary, together accounting for X% of total imports. These countries were followed by the U.S., Belgium, Austria, France and Italy, which together accounted for a further X 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by Austria, while the other leaders experienced more modest paces of growth.

In value terms, the largest vitamin suppliers to Hungary were Germany ($X), the Netherlands ($X) and the U.S. ($X), with a combined X% share of total imports. Belgium, Poland, France, Austria and Italy lagged somewhat behind, together comprising a further X terms of the main suppliers, Austria experienced the highest growth rate of imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the average vitamin import price amounted to $X per tonne, increasing by X% against the previous year. Over the period under review, the vitamin import price, however, continues to indicate a slight reduction. The most prominent rate of growth was recorded in 2017 an increase of X% y-o-y. The import price peaked at $X per tonne in 2007; however, from 2008 to 2018, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($X per tonne), while the price for Italy ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform