Bulgaria: Bacon And Ham Market 2024

Bacon And Ham Market Size in Bulgaria

The Bulgarian bacon and ham market surged to $X in 2022, picking up by 89% against the previous year. Over the period under review, the total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Bacon And Ham Production in Bulgaria

In value terms, bacon and ham production soared to $X in 2022 estimated in export price. Over the period under review, the total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Bacon And Ham Exports

Exports from Bulgaria

In 2022, shipments abroad of bacon, ham and other dried, salted or smoked pig meat decreased by -68.2% to X tons, falling for the third consecutive year after four years of growth. Overall, exports continue to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2017 with an increase of 352% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, bacon and ham exports shrank rapidly to $X in 2022. Over the period under review, exports showed a sharp slump. The pace of growth appeared the most rapid in 2017 when exports increased by 478% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons), Hungary (X tons) and Cyprus (X tons) were the main destinations of bacon and ham exports from Bulgaria, with a combined 83% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cyprus (with a CAGR of +71.8%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X) remains the key foreign market for bacon, ham and other dried, salted or smoked pig meat exports from Bulgaria, comprising 45% of total exports. The second position in the ranking was held by Hungary ($X), with a 21% share of total exports. It was followed by Cyprus, with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Romania stood at +8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+15.3% per year) and Cyprus (+58.2% per year).

Export Prices by Country

The average bacon and ham export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 30%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to North Macedonia ($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 Hungary (+1.3%), while the prices for the other major destinations experienced mixed trend patterns.

Bacon And Ham Imports

Imports into Bulgaria

In 2022, purchases abroad of bacon, ham and other dried, salted or smoked pig meat decreased by -27.2% to X tons, falling for the third consecutive year after two years of growth. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 82%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, bacon and ham imports contracted to $X in 2022. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -12.7% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 101% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Spain (X tons) and Italy (X tons) were the main suppliers of bacon and ham imports to Bulgaria, together accounting for 79% of total imports. Austria, Croatia, the Netherlands and France lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of +43.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest bacon and ham suppliers to Bulgaria were Italy ($X), Germany ($X) and Spain ($X), together comprising 87% of total imports. Croatia, Austria, the Netherlands and France lagged somewhat behind, together comprising a further 12%.

In terms of the main suppliers, Croatia, with a CAGR of +39.0%, saw the highest rates of growth with regard to 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 2022, the average bacon and ham import price amounted to $X per ton, picking up by 27% against the previous year. Over the period under review, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bacon and ham import price increased by +93.7% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by 27% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 Italy ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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