Bulgaria: Plastic Bottle Market 2024

Plastic Bottle Market Size in Bulgaria

The Bulgarian plastic bottle market declined notably to $X in 2022, which is down by -76% against the previous year. Overall, consumption recorded a precipitous contraction. The most prominent rate of growth was recorded in 2021 when the market value decreased by -9.4% against the previous year. Plastic bottle consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Plastic Bottle Production in Bulgaria

In value terms, plastic bottle production soared to $X in 2022 estimated in export price. Overall, production saw a abrupt decrease. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Plastic Bottle Exports

Exports from Bulgaria

For the third consecutive year, Bulgaria recorded growth in overseas shipments of carboys, bottles and similar articles of plastics, which increased by 19% to X tons in 2022. The total export volume increased at an average annual rate of +9.4% over the period from 2020 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, plastic bottle exports surged to $X in 2022. Overall, total exports indicated a significant increase from 2020 to 2022: its value increased at an average annual rate of +29.0% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +66.3% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Greece (X tons), Romania (X tons) and Serbia (X tons) were the main destinations of plastic bottle exports from Bulgaria, together comprising 59% of total exports. Israel, North Macedonia, Moldova, the Netherlands, Albania, Germany, Italy, Croatia and South Africa lagged somewhat behind, together comprising a further 32%.

From 2020 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +165.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plastic bottle exported from Bulgaria were Greece ($X), Romania ($X) and Serbia ($X), with a combined 53% share of total exports. North Macedonia, Israel, Germany, Moldova, Italy, the Netherlands, Albania, Croatia and South Africa lagged somewhat behind, together accounting for a further 31%.

Moldova, with a CAGR of +216.0%, saw the highest rates of growth with regard to 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

The average plastic bottle export price stood at $X per ton in 2022, picking up by 18% against the previous year. Over the period from 2020 to 2022, it increased at an average annual rate of +17.9%. The most prominent rate of growth was recorded in 2021 an increase of 18% against the previous year. The export price peaked in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Israel ($X per ton) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Moldova (+27.1%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Bottle Imports

Imports into Bulgaria

In 2022, the amount of carboys, bottles and similar articles of plastics imported into Bulgaria stood at X tons, increasing by 5% on the year before. In general, imports, however, recorded a mild contraction. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, plastic bottle imports rose rapidly to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Romania (X tons), Turkey (X tons) and Poland (X tons) were the main suppliers of plastic bottle imports to Bulgaria, together comprising 68% of total imports. Italy, Greece, Germany, Belgium and Serbia lagged somewhat behind, together comprising a further 22%.

From 2020 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +721.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic bottle suppliers to Bulgaria were Poland ($X), Turkey ($X) and Romania ($X), with a combined 55% share of total imports. Italy, Germany, Greece, Belgium and Serbia lagged somewhat behind, together comprising a further 24%.

Belgium, with a CAGR of +393.2%, saw the highest growth rate of 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 plastic bottle import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the last two-year period, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 4%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+30.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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