Bulgaria: Canned Meat Market 2024

Canned Meat Market Size in Bulgaria

In 2021, the Bulgarian canned meat market decreased by -45.2% to $X, falling for the second year in a row after four years of growth. In general, consumption continues to indicate a abrupt contraction. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Canned Meat Production in Bulgaria

In value terms, canned meat production dropped notably to $X in 2021 estimated in export price. Overall, production continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 29% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Canned Meat Exports

Exports from Bulgaria

In 2021, canned meat exports from Bulgaria skyrocketed to X tons, picking up by 43% on 2020. Over the period under review, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 49%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, canned meat exports soared to $X in 2021. Overall, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +9.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +17.9% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 55% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Romania (X tons), France (X tons) and the UK (X tons) were the main destinations of canned meat exports from Bulgaria, with a combined 52% share of total exports. These countries were followed by Serbia, the Netherlands, Germany, Greece, Belgium and Spain, which together accounted for a further 44%.

From 2012 to 2021, the biggest increases were recorded for Serbia (with a CAGR of +112.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Spain ($X) and Romania ($X) appeared to be the largest markets for canned meat exported from Bulgaria worldwide, with a combined 50% share of total exports. These countries were followed by the UK, Belgium, Greece, Germany, the Netherlands and Serbia, which together accounted for a further 46%.

Among the main countries of destination, Serbia, with a CAGR of +96.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average canned meat export price stood at $X per ton in 2021, falling by -13% against the previous year. Over the period under review, the export price recorded a perceptible decrease. The pace of growth was the most pronounced in 2018 an increase of 15%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Serbia ($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 Russia (+34.0%), while the prices for the other major destinations experienced mixed trend patterns.

Canned Meat Imports

Imports into Bulgaria

In 2021, the amount of canned meat imported into Bulgaria totaled X tons, with an increase of 5.5% against 2020 figures. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 16% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, canned meat imports soared to $X in 2021. Over the period under review, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +77.8% against 2015 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 18%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

Poland (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of canned meat imports to Bulgaria, with a combined 48% share of total imports. These countries were followed by Spain, Greece, Hungary, Romania, France, the Czech Republic and the Netherlands, which together accounted for a further 47%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +17.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest canned meat suppliers to Bulgaria were Germany ($X), Poland ($X) and Italy ($X), with a combined 53% share of total imports. Greece, Hungary, the Czech Republic, Spain, France, Romania and the Netherlands lagged somewhat behind, together accounting for a further 40%.

Hungary, with a CAGR of +16.1%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average canned meat import price stood at $X per ton in 2021, growing by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2013 an increase of 16%. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for Spain ($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 (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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