Hungary: Market for Fish Fats And Oils 2024

Market Size for Fish Fats And Oils in Hungary

The Hungarian fish fat and oil market amounted to $X in 2022, increasing by X% against the previous year. In general, the total consumption indicated tangible growth 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, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Fish Fats And Oils in Hungary

In value terms, fish fat and oil production rose sharply to $X in 2022 estimated in export price. Over the period under review, the total production indicated a perceptible 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 2020 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Exports of Fish Fats And Oils

Exports from Hungary

In 2022, approx. X tons of fish fats and oils were exported from Hungary; picking up by X% against 2021. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, fish fat and oil exports expanded notably to $X in 2022. Over the period under review, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for fish fat and oil exports from Hungary, accounting for a X% share of total exports. Moreover, fish fat and oil exports to the Netherlands exceeded the volume sent to the second major destination, Slovakia (X tons), sixfold. Italy (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 the Netherlands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (X% per year) and Italy (X% per year).

In value terms, Italy ($X), the Netherlands ($X) and Romania ($X) were the largest markets for fish fat and oil exported from Hungary worldwide, together accounting for X% of total exports. Slovakia, the Czech Republic, Bulgaria and Austria lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Bulgaria, 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

In 2022, the average fish fat and oil export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the Netherlands ($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 the Czech Republic (X%), while the prices for the other major destinations experienced a decline.

Imports of Fish Fats And Oils

Imports into Hungary

In 2022, the amount of fish fats and oils imported into Hungary stood at X tons, with an increase of X% compared with the previous year. In general, total imports indicated buoyant growth 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 2016 indices. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, fish fat and oil imports amounted to $X in 2022. Overall, imports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

The Netherlands (X tons), France (X tons) and Belgium (X tons) were the main suppliers of fish fat and oil imports to Hungary, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest fish fat and oil suppliers to Hungary were Poland ($X), the Netherlands ($X) and France ($X), together comprising X% of total imports. Germany, Belgium, Denmark and Spain lagged somewhat behind, together accounting for a further X%.

Belgium, with a CAGR of X%, saw the highest rates of growth with regard to 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 fish fat and oil import price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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 Poland ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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