Bulgaria: Caramel Market 2022

Caramel Market Size in Bulgaria

In 2020, the Bulgarian caramel market decreased by -X% to $X, falling for the third consecutive year after four years of growth. Overall, consumption showed a perceptible decrease. The pace of growth appeared the most rapid in 2017 with an increase of X% year-to-year. Caramel consumption peaked at $X in 2007; however, from 2008 to 2020, consumption failed to regain the momentum.

Caramel Production in Bulgaria

In value terms, caramel production declined sharply to $X in 2020 estimated in export prices. Overall, production continues to indicate a pronounced decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% y-o-y. Caramel production peaked at $X in 2007; however, from 2008 to 2020, production stood at a somewhat lower figure.

Caramel Exports

Exports from Bulgaria

In 2020, overseas shipments of caramel decreased by -X% to X tons, falling for the seventh consecutive year after two years of growth. In general, exports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. As a result, exports reached the peak of X tons. from 2014 to 2020, the growth exports remained at a lower figure.

In value terms, caramel exports declined sharply to $X in 2020. Over the period under review, exports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2009 with an increase of X% against the previous year. Exports peaked at $X in 2017; however, from 2018 to 2020, exports failed to regain the momentum.

Exports by Country

Greece (X tons) was the main destination for caramel exports from Bulgaria, with a X% share of total exports. Moreover, caramel exports to Greece exceeded the volume sent to the second major destination, Romania (X tons), more than tenfold. The third position in this ranking was occupied by Italy (X tons), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Greece totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+X% per year) and Italy (+X% per year).

In value terms, Greece ($X) remains the key foreign market for caramel exports from Bulgaria, comprising X% of total exports. The second position in the ranking was occupied by Romania ($X), with a X% share of total exports. It was followed by Italy, with a X% share.

From 2007 to 2020, the average annual growth rate of value to Greece amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+X% per year) and Italy (+X% per year).

Export Prices by Country

In 2020, the average caramel export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price recorded a resilient increase. The most prominent rate of growth was recorded in 2017 an increase of X% year-to-year. As a result, export price reached the peak level of $X per ton. from 2018 to 2020, the growth in terms of the average export prices failed to regain the momentum.

There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was Greece ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Greece, while the prices for the other major destinations experienced more modest paces of growth.

Caramel Imports

Imports into Bulgaria

In 2020, imports of caramel into Bulgaria soared to X tons, with an increase of X% compared with the previous year. Overall, imports saw a resilient expansion. The growth pace was the most rapid in 2018 when imports increased by X% y-o-y. Imports peaked in 2020 and are expected to retain growth in the near future.

In value terms, caramel imports skyrocketed to $X in 2020. In general, imports enjoyed a prominent expansion. The growth pace was the most rapid in 2013 with an increase of X% y-o-y. Imports peaked in 2020 and are likely to see steady growth in the immediate term.

Imports by Country

France (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of caramel imports to Bulgaria, together accounting for X% of total imports. These countries were followed by Slovakia, Austria, Turkey and Italy, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and France ($X) constituted the largest caramel suppliers to Bulgaria, with a combined X% share of total imports. Slovakia, Austria, Turkey and Italy lagged somewhat behind, together comprising a further X (+X% per year) saw the highest rates of growth with regard to 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

In 2020, the average caramel import price amounted to $X per ton, surging by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. from 2009 to 2020, the growth in terms of the average import prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was the Netherlands ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by France, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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