Bulgaria: Caramel Market 2024

Caramel Market Size in Bulgaria

In 2022, the Bulgarian caramel market increased by X% to $X, rising for the fifth consecutive year after four years of decline. In general, consumption showed resilient growth. Caramel consumption peaked in 2022 and is expected to retain growth in the near future.

Caramel Production in Bulgaria

In value terms, caramel production fell notably to $X in 2022 estimated in export price. Overall, production recorded a significant contraction. Caramel production peaked at $X in 2021, and then reduced dramatically in the following year.

Caramel Exports

Exports from Bulgaria

After three years of decline, shipments abroad of caramel increased by X% to X tons in 2022. Over the period under review, exports recorded significant growth. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, caramel exports soared to $X in 2022. Overall, exports showed a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons), Greece (X tons) and Iran (X tons) were the main destinations of caramel exports from Bulgaria, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for caramel exported from Bulgaria were the Netherlands ($X), Germany ($X) and Greece ($X), with a combined X% share of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the average caramel export price amounted to $X per ton, reducing by X% against the previous year. In general, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, caramel export price decreased by X% against 2017 indices. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Greece ($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 North Macedonia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Caramel Imports

Imports into Bulgaria

In 2022, the amount of caramel imported into Bulgaria surged to X tons, rising by X% against 2021 figures. In general, imports enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, caramel imports soared to $X in 2022. Overall, imports saw a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Germany (X tons), the Netherlands (X tons) and France (X tons) were the main suppliers of caramel imports to Bulgaria, together comprising X% of total imports. The Czech Republic, Slovakia, Ukraine, Belgium and Italy lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and France ($X) appeared to be the largest caramel suppliers to Bulgaria, together accounting for X% of total imports. The Czech Republic, Ukraine, Slovakia, Belgium and Italy lagged somewhat behind, together accounting for a further X%.

Ukraine, with a CAGR of X%, 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

The average caramel import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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 the Czech Republic ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform