Bulgaria: Preserved Beef Market 2024

Preserved Beef Market Size in Bulgaria

The Bulgarian preserved beef market soared to $X in 2021, growing by 29% against the previous year. In general, the total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +51.3% against 2017 indices. Over the period under review, the market reached the peak level in 2021 and is likely to continue growth in the immediate term.

Preserved Beef Production in Bulgaria

In value terms, preserved beef production skyrocketed to $X in 2021 estimated in export price. Overall, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +41.7% against 2016 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Preserved Beef Exports

Exports from Bulgaria

Preserved beef exports from Bulgaria rose rapidly to X tons in 2021, picking up by 14% compared with the previous year's figure. In general, exports posted significant growth. The growth pace was the most rapid in 2016 when exports increased by 2,539%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, preserved beef exports declined dramatically to $X in 2021. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 776%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Hungary (X tons) was the main destination for preserved beef exports from Bulgaria, accounting for a 66% share of total exports. Moreover, preserved beef exports to Hungary exceeded the volume sent to the second major destination, the UK (X tons), threefold. North Macedonia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hungary totaled +77.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+28.2% per year) and North Macedonia (+29.7% per year).

In value terms, the UK ($X), Hungary ($X) and North Macedonia ($X) were the largest markets for preserved beef exported from Bulgaria worldwide, with a combined 97% share of total exports.

Hungary, with a CAGR of +83.7%, recorded 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 2021, the average preserved beef export price amounted to $X per ton, reducing by -39.9% against the previous year. In general, the export price recorded a abrupt descent. The pace of growth was the most pronounced in 2015 an increase of 1,021%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Beef Imports

Imports into Bulgaria

Preserved beef imports into Bulgaria dropped markedly to X tons in 2021, declining by -46.1% on the previous year's figure. In general, imports, however, saw pronounced growth. The growth pace was the most rapid in 2013 with an increase of 304% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, preserved beef imports reduced to $X in 2021. Over the period under review, imports, however, recorded a strong increase. The pace of growth was the most pronounced in 2013 with an increase of 478%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of preserved beef to Bulgaria, accounting for a 80% share of total imports. Moreover, preserved beef imports from Italy exceeded the figures recorded by the second-largest supplier, Poland (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (0.0% per year) and Germany (+123.1% per year).

In value terms, Italy ($X) constituted the largest supplier of beef and veal (salted, in brine, dried or smoked) to Bulgaria, comprising 80% of total imports. The second position in the ranking was taken by Poland ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Italy totaled +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (0.0% per year) and Germany (+130.5% per year).

Import Prices by Country

In 2021, the average preserved beef import price amounted to $X per ton, jumping by 66% against the previous year. Over the period under review, the import price enjoyed temperate growth. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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