Hungary: Market for Manufactured Tobacco, Extracts And Essences 2024

Market Size for Manufactured Tobacco, Extracts And Essences in Hungary

In 2023, the Hungarian market for manufactured tobacco, extracts and essences decreased by X% to $X, falling for the second consecutive year after three years of growth. Overall, consumption saw a mild slump. Over the period under review, the market reached the maximum level at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Production of Manufactured Tobacco, Extracts And Essences in Hungary

In value terms, manufactured tobacco, extracts and essences production stood at $X in 2023 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Exports of Manufactured Tobacco, Extracts And Essences

Exports from Hungary

Manufactured tobacco, extracts and essences exports from Hungary surged to X tons in 2023, with an increase of X% against the previous year's figure. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked in 2023 and are likely to see gradual growth in the immediate term.

In value terms, manufactured tobacco, extracts and essences exports skyrocketed to $X in 2023. Over the period under review, exports enjoyed significant growth. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2023 and are likely to see gradual growth in the near future.

Exports by Country

Norway (X tons) was the main destination for manufactured tobacco, extracts and essences exports from Hungary, accounting for a X% share of total exports. Moreover, manufactured tobacco, extracts and essences exports to Norway exceeded the volume sent to the second major destination, the Czech Republic (X tons), eightfold. Denmark (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Norway amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (X% per year) and Denmark (X% per year).

In value terms, Norway ($X) remains the key foreign market for manufactured tobacco, extracts and essences exports from Hungary, comprising X% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a X% share of total exports. It was followed by Denmark, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Norway amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (X% per year) and Denmark (X% per year).

Export Prices by Country

The average export price for manufactured tobacco, extracts and essences stood at $X per ton in 2023, increasing by X% against the previous year. Over the period under review, the export price posted a significant expansion. The growth pace was the most rapid in 2019 an increase of X% against the previous year. The export price peaked in 2023 and is likely to see steady growth in the immediate term.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Manufactured Tobacco, Extracts And Essences

Imports into Hungary

In 2023, overseas purchases of manufactured tobacco, extracts and essences decreased by X% to X tons, falling for the second year in a row after four years of growth. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Imports peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, manufactured tobacco, extracts and essences imports reduced to $X in 2023. Overall, imports, however, continue to indicate a mild expansion. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), the United States (X tons) and Serbia (X tons) were the main suppliers of manufactured tobacco, extracts and essences imports to Hungary, with a combined X% share of total imports. Switzerland, Bulgaria, Germany and the UK lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Bulgaria (with a CAGR of X.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the United States ($X) and Switzerland ($X) were the largest manufactured tobacco, extracts and essences suppliers to Hungary, together comprising X% of total imports. Bulgaria, Serbia, Germany and the UK lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Bulgaria, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average import price for manufactured tobacco, extracts and essences amounted to $X per ton, flattening at the previous year. In general, the import price enjoyed a moderate expansion. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. The import price peaked at $X per ton in 2021; however, from 2022 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Romania (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform