Serbia: Extracts Of Tea Market 2024

Extracts Of Tea Market Size in Serbia

In 2022, the Serbian extracts of tea market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, saw a mild reduction. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Extracts Of Tea Production in Serbia

In value terms, extracts of tea production fell to $X in 2022 estimated in export price. Over the period under review, the total production indicated a slight 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, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Extracts Of Tea Exports

Exports from Serbia

After three years of growth, shipments abroad of extracts, essences and concentrates of tea or mate decreased by X% to X tons in 2022. Overall, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by X%. The exports peaked at X tons in 2021, and then shrank sharply in the following year.

In value terms, extracts of tea exports contracted markedly to $X in 2022. Over the period under review, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The exports peaked at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Spain (X tons) was the main destination for extracts of tea exports from Serbia, accounting for a X% share of total exports. Moreover, extracts of tea exports to Spain exceeded the volume sent to the second major destination, Italy (X tons), eightfold. Romania (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 Spain totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Romania (X% per year).

In value terms, Spain ($X) remains the key foreign market for extracts, essences and concentrates of tea or mate exports from Serbia, comprising X% of total exports. The second position in the ranking was taken by Italy ($X), with a X% share of total exports. It was followed by Romania, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Spain amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Romania (X% per year).

Export Prices by Country

The average extracts of tea export price stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the export price saw a pronounced curtailment. The pace of growth was the most pronounced in 2013 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Germany ($X per ton) and France ($X per ton), while the average price for exports to Spain ($X per ton) and Romania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Extracts Of Tea Imports

Imports into Serbia

In 2022, approx. X tons of extracts, essences and concentrates of tea or mate were imported into Serbia; dropping by X% on the year before. In general, imports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, extracts of tea imports declined markedly to $X in 2022. Over the period under review, imports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), India (X tons) and Italy (X tons) were the main suppliers of extracts of tea imports to Serbia, together comprising X% of total imports. Ireland, Austria, the Netherlands and China lagged somewhat behind, together comprising a further X%.

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

In value terms, Ireland ($X) constituted the largest supplier of extracts, essences and concentrates of tea or mate to Serbia, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

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

Import Prices by Country

In 2022, the average extracts of tea import price amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price, however, saw moderate growth. The growth pace was the most rapid in 2016 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ireland ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform