Hungary: Spirits And Liqueurs Market 2024

Spirits And Liqueurs Market Size in Hungary

The Hungarian spirits and liqueurs market skyrocketed to $X in 2023, jumping by X% against the previous year. In general, consumption enjoyed a buoyant expansion. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Spirits And Liqueurs Production in Hungary

In value terms, spirits and liqueurs production soared to $X in 2023 estimated in export price. Overall, production posted modest growth. Over the period under review, production reached the peak level at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Spirits And Liqueurs Exports

Exports from Hungary

After five years of decline, overseas shipments of spirits, liqueurs and other spirituous beverages increased by X% to X litres in 2023. In general, exports, however, recorded a slight setback. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of X litres. From 2018 to 2023, the growth of the exports failed to regain momentum.

In value terms, spirits and liqueurs exports fell to $X in 2023. Over the period under review, total exports indicated a pronounced expansion from 2012 to 2023: its value 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. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2022, and then declined in the following year.

Exports by Country

Slovakia (X litres), Italy (X litres) and Romania (X litres) were the main destinations of spirits and liqueurs exports from Hungary, with a combined X% share of total exports. Germany, Austria, the Czech Republic, Latvia and Canada lagged somewhat behind, together comprising a further X%.

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

In value terms, Slovakia ($X), Italy ($X) and Romania ($X) constituted the largest markets for spirits and liqueurs exported from Hungary worldwide, together accounting for X% of total exports. Germany, the Czech Republic, Austria, Canada and Latvia lagged somewhat behind, together comprising a further X%.

The Czech Republic, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of 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 2023, the average spirits and liqueurs export price amounted to $X per litre, dropping by X% against the previous year. In general, the export price, however, posted resilient growth. The pace of growth was the most pronounced in 2020 an increase of X%. The export price peaked at $X per litre in 2022, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per litre), while the average price for exports to Latvia ($X per litre) was amongst the lowest.

From 2012 to 2023, 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.

Spirits And Liqueurs Imports

Imports into Hungary

In 2023, approx. X litres of spirits, liqueurs and other spirituous beverages were imported into Hungary; waning by X% compared with 2022. Over the period under review, imports continue to indicate a mild reduction. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of X litres. From 2019 to 2023, the growth of imports failed to regain momentum.

In value terms, spirits and liqueurs imports rose notably to $X in 2023. In general, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked in 2023 and are likely to continue growth in years to come.

Imports by Country

Poland (X litres), Germany (X litres) and Romania (X litres) were the main suppliers of spirits and liqueurs imports to Hungary, together comprising X% of total imports.

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

In value terms, Germany ($X) constituted the largest supplier of spirits, liqueurs and other spirituous beverages to Hungary, comprising X% of total imports. The second position in the ranking was held by Poland ($X), with a X% share of total imports. It was followed by Romania, with an X% share.

From 2012 to 2023, the average annual growth rate of value from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Romania (X% per year).

Import Prices by Country

The average spirits and liqueurs import price stood at $X per litre in 2023, surging by X% against the previous year. In general, the import price saw a prominent increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per litre), while the price for the Czech Republic ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform