Key Market Indicators
The Serbian sweeteners market is projected to decline, with sales expected to decrease from approximately 226,000 metric tons in 2023 to around 212,000 metric tons by 2028. This represents a year-on-year compound annual growth rate (CAGR) decline of 1%. Since 2019, the Serbian market has seen a marginal annual decrease of 0.1%. Similarly, sweeteners production in Serbia is also on a downward trajectory. Production is forecasted to fall from roughly 734,000 metric tons in 2023 to about 696,000 metric tons by 2028, translating to a year-on-year CAGR decline of 0.8%. The nation's supply has been decreasing by 1% annually since 2019. In the global rankings for sweeteners production in 2023, Serbia held the 38th position. Hungary surpassed Serbia with a production volume of 734,000 metric tons. The leading countries in this ranking were Brazil, the United States, and Thailand, respectively occupying the second, third, and fourth positions.
