Bulgaria: Market for Bone Glues and Gelatin 2024

Market Size for Bone Glues and Gelatin in Bulgaria

After two years of growth, the Bulgarian bone glue and gelatin market decreased by -26.4% to $X in 2022. Overall, consumption, however, showed a strong increase. Over the period under review, the market attained the peak level at $X in 2021, and then shrank sharply in the following year.

Exports of Bone Glues and Gelatin

Exports from Bulgaria

In 2022, overseas shipments of bone glues and gelatin decreased by -18.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 319%. The exports peaked at X tons in 2021, and then contracted significantly in the following year.

In value terms, bone glue and gelatin exports declined markedly to $X in 2022. In general, exports, however, posted a significant increase. The growth pace was the most rapid in 2016 with an increase of 401% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then contracted dramatically in the following year.

Exports by Country

Greece (X tons) was the main destination for bone glue and gelatin exports from Bulgaria, with a 64% share of total exports. Moreover, bone glue and gelatin exports to Greece exceeded the volume sent to the second major destination, Iran (X tons), twofold. The third position in this ranking was taken by Austria (X tons), with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume to Greece totaled +138.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (0.0% per year) and Austria (+110.8% per year).

In value terms, Greece ($X), Iran ($X) and Italy ($X) constituted the largest markets for bone glue and gelatin exported from Bulgaria worldwide, together comprising 95% of total exports.

Italy, with a CAGR of +696.9%, saw the highest rates of growth with regard to the value of exports, among 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

The average bone glue and gelatin export price stood at $X per ton in 2022, reducing by -11.8% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by 38% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Austria ($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 Italy (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bone Glues and Gelatin

Imports into Bulgaria

In 2022, supplies from abroad of bone glues and gelatin decreased by -19.8% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 58%. Imports peaked at X tons in 2021, and then declined significantly in the following year.

In value terms, bone glue and gelatin imports fell sharply to $X in 2022. In general, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2020 with an increase of 135% against the previous year. Imports peaked at $X in 2021, and then declined rapidly in the following year.

Imports by Country

Denmark (X tons), Italy (X tons) and the Netherlands (X tons) were the main suppliers of bone glue and gelatin imports to Bulgaria, together accounting for 51% of total imports. Belgium, Croatia, Germany, Spain and France lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of +68,401.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest bone glue and gelatin suppliers to Bulgaria were Belgium ($X), Italy ($X) and Denmark ($X), with a combined 54% share of total imports. Croatia, the Netherlands, Germany, Spain and France lagged somewhat behind, together accounting for a further 38%.

Croatia, with a CAGR of +66,743.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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 bone glue and gelatin import price amounted to $X per ton, with a decrease of -10.8% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bone glue and gelatin import price increased by +99.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 66%. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then fell in the following year.

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 Belgium ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+17.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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