Serbia: Market for Colouring Matter Of Vegetable Or Animal Origin 2024

Market Size for Colouring Matter Of Vegetable Or Animal Origin in Serbia

After two years of growth, the Serbian market for colouring matter of vegetable or animal origin decreased by X% to $X in 2022. Over the period under review, consumption, however, saw a strong expansion. As a result, consumption attained the peak level of $X, and then shrank significantly in the following year.

Exports of Colouring Matter Of Vegetable Or Animal Origin

Exports from Serbia

In 2022, approx. X tons of colouring matter of vegetable or animal origin were exported from Serbia; reducing by X% on the previous year's figure. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, vegetable or animal colouring matter exports declined to $X in 2022. Over the period under review, total exports indicated a tangible 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 decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

North Macedonia (X tons) was the main destination for vegetable or animal colouring matter exports from Serbia, accounting for a X% share of total exports. Moreover, vegetable or animal colouring matter exports to North Macedonia exceeded the volume sent to the second major destination, Montenegro (X tons), fourfold. Hungary (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to North Macedonia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (X% per year) and Hungary (X% per year).

In value terms, the largest markets for vegetable or animal colouring matter exported from Serbia were North Macedonia ($X), Montenegro ($X) and Greece ($X), with a combined X% share of total exports. Bosnia and Herzegovina, Slovakia, Albania and Hungary lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Hungary, with a CAGR of X%, recorded the highest growth rate of 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 export price for colouring matter of vegetable or animal origin stood at $X per ton in 2022, picking up by X% against the previous year. Overall, export price indicated a mild increase 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, vegetable or animal colouring matter export price increased by X% against 2020 indices. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Hungary ($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 Slovakia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Colouring Matter Of Vegetable Or Animal Origin

Imports into Serbia

In 2022, supplies from abroad of colouring matter of vegetable or animal origin decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, saw resilient growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then dropped notably in the following year.

In value terms, vegetable or animal colouring matter imports declined to $X in 2022. In general, imports, however, saw a prominent increase. The growth pace was the most rapid in 2013 when imports increased by X%. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Slovenia (X tons) constituted the largest supplier of vegetable or animal colouring matter to Serbia, with a X% share of total imports. Moreover, vegetable or animal colouring matter imports from Slovenia exceeded the figures recorded by the second-largest supplier, Denmark (X tons), eightfold. The third position in this ranking was taken by Spain (X tons), with a X% share.

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

In value terms, Slovenia ($X), Denmark ($X) and China ($X) appeared to be the largest vegetable or animal colouring matter suppliers to Serbia, with a combined X% share of total imports. Germany, Austria, Spain, Hungary, Italy, Turkey, the UK, Bulgaria and France lagged somewhat behind, together comprising a further X%.

Spain, with a CAGR of X%, saw 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

The average import price for colouring matter of vegetable or animal origin stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a 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 China ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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