Eastern Europe: Caramel Market 2024

Caramel Market Size in Eastern Europe

In 2023, the East European caramel market increased by X% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption showed a noticeable downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Caramel Production in Eastern Europe

In value terms, caramel production expanded to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a pronounced decline. The pace of growth appeared the most rapid in 2022 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Caramel Exports

Exports in Eastern Europe

In 2023, overseas shipments of caramel decreased by X% to X tons for the first time since 2019, thus ending a three-year rising trend. Over the period under review, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2022, and then dropped in the following year.

In value terms, caramel exports surged to $X in 2023. In general, exports, however, posted prominent growth. The growth pace was the most rapid in 2021 when exports increased by X%. The level of export peaked in 2023 and is expected to retain growth in the near future.

Exports by Country

In 2023, Slovakia (X tons) represented the key exporter of caramel, committing X% of total exports. Romania (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by the Czech Republic (X%), Poland (X%), Russia (X%) and Ukraine (X%). Lithuania (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Ukraine (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest caramel supplying countries in Eastern Europe were Slovakia ($X), Romania ($X) and Poland ($X), with a combined X% share of total exports. The Czech Republic, Russia, Ukraine and Lithuania lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Ukraine, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2023, the export price in Eastern Europe amounted to $X per ton, surging by X% against the previous year. Export price indicated a moderate increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, caramel export price increased by X% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Poland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Poland (X%), while the other leaders experienced more modest paces of growth.

Caramel Imports

Imports in Eastern Europe

After seven years of growth, purchases abroad of caramel decreased by X% to X tons in 2023. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2022, and then reduced slightly in the following year.

In value terms, caramel imports soared to $X in 2023. In general, imports, however, recorded a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland was the major importer of caramel in Eastern Europe, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2023. Russia (X tons) ranks second in terms of the total imports with a X% share, followed by the Czech Republic (X%), Hungary (X%) and Romania (X%). Estonia (X tons) and Lithuania (X tons) held a minor share of total imports.

From 2012 to 2023, average annual rates of growth with regard to caramel imports into Poland stood at X%. At the same time, Hungary (X%), Estonia (X%), Lithuania (X%), Romania (X%) and the Czech Republic (X%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2023. By contrast, Russia (X%) illustrated a downward trend over the same period. While the share of Poland (X p.p.), Hungary (X p.p.), the Czech Republic (X p.p.) and Estonia (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Russia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported caramel in Eastern Europe, comprising X% of total imports. The second position in the ranking was held by Russia ($X), with a X% share of total imports. It was followed by the Czech Republic, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Poland totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Russia (X% per year) and the Czech Republic (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Europe amounted to $X per ton, jumping by X% against the previous year. Import price indicated a buoyant expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, caramel import price increased by X% against 2015 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Hungary ($X per ton), while Estonia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Russia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform