
Hungary - Turkey Meat - Market Analysis, Forecast, Size, Trends and Insights
Hungary: Turkey Meat Market 2023
Turkey Meat Market Size in Hungary
After two years of decline, the Hungarian turkey meat market increased by 14% to $X in 2022. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.
Turkey Meat Production in Hungary
In value terms, turkey meat production contracted to $X in 2022 estimated in export price. In general, production, however, recorded a pronounced reduction. The most prominent rate of growth was recorded in 2021 when the production volume increased by 9.5% against the previous year. Turkey meat production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.
The average yield of turkey meat in Hungary stood at X kg per head in 2022, approximately reflecting 2021 figures. In general, the yield showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the yield increased by 3.6%. Over the period under review, the average turkey meat yield attained the maximum level at X kg per head in 2018; however, from 2019 to 2022, the yield stood at a somewhat lower figure.
In 2022, the number of animals slaughtered for turkey meat production in Hungary expanded modestly to X heads, increasing by 4.2% on the year before. Overall, the number of producing animals, however, continues to indicate a slight setback. The pace of growth was the most pronounced in 2015 when the number of producing animals increased by 10%. Over the period under review, this number attained the maximum level at X heads in 2012; however, from 2013 to 2022, producing animals failed to regain momentum.
Turkey Meat Exports
Exports from Hungary
Turkey meat exports from Hungary contracted significantly to X tons in 2022, which is down by -18.2% compared with the previous year's figure. Over the period under review, exports showed a noticeable setback. The pace of growth appeared the most rapid in 2021 with an increase of 22% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.
In value terms, turkey meat exports rose modestly to $X in 2022. In general, exports recorded a noticeable decline. The most prominent rate of growth was recorded in 2021 when exports increased by 36% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.
Exports by Country
Romania (X tons), Slovakia (X tons) and Austria (X tons) were the main destinations of turkey meat exports from Hungary, together comprising 44% of total exports. Italy, Germany, Switzerland, Greece, Slovenia, Croatia, France, Poland, the Netherlands and the Czech Republic lagged somewhat behind, together accounting for a further 45%.
From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Greece (with a CAGR of +28.2%), while the other leaders experienced more modest paces of growth.
In value terms, the largest markets for turkey meat exported from Hungary were Romania ($X), Austria ($X) and Slovakia ($X), together accounting for 39% of total exports. Italy, Switzerland, Germany, Slovenia, Greece, France, Croatia, the Netherlands, the Czech Republic and Poland lagged somewhat behind, together accounting for a further 53%.
Greece, with a CAGR of +33.3%, recorded the highest rates of growth with regard to the value of exports, among 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 turkey meat export price amounted to $X per ton, growing by 27% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Poland ($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 Greece (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.
Turkey Meat Imports
Imports into Hungary
In 2022, overseas purchases of turkey meat decreased by -10.8% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, imports showed a deep reduction. The growth pace was the most rapid in 2013 when imports increased by 21%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.
In value terms, turkey meat imports rose remarkably to $X in 2022. Overall, total imports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -11.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 34%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.
Imports by Country
Poland (X tons), Austria (X tons) and Germany (X tons) were the main suppliers of turkey meat imports to Hungary, with a combined 86% share of total imports. France, Romania, Estonia, Belgium and the UK lagged somewhat behind, together comprising a further 10%.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Estonia (with a CAGR of +287.3%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Poland ($X), Austria ($X) and Germany ($X) were the largest turkey meat suppliers to Hungary, with a combined 90% share of total imports. Romania, Estonia, France, Belgium and the UK lagged somewhat behind, together accounting for a further 6.5%.
Estonia, with a CAGR of +211.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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 turkey meat import price amounted to $X per ton, surging by 21% against the previous year. Over the period under review, the import price showed a resilient expansion. The growth pace was the most rapid in 2014 an increase of 29%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Romania ($X per ton), while the price for France ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
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This report provides an in-depth analysis of the turkey meat market in Hungary. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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