Bulgaria: Cheese Market 2024

Cheese Market Size in Bulgaria

For the sixth consecutive year, the Bulgarian cheese market recorded growth in sales value, which increased by 3.2% to $X in 2021. Over the period under review, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +48.9% against 2014 indices. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in years to come.

Cheese Production in Bulgaria

In value terms, cheese production totaled $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +44.3% against 2016 indices. The growth pace was the most rapid in 2014 with an increase of 30%. Over the period under review, production attained the maximum level in 2021 and is likely to see gradual growth in years to come.

Cheese Exports

Exports from Bulgaria

After six years of decline, overseas shipments of cheese increased by 10% to X tons in 2021. The total export volume increased at an average annual rate of +1.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 14% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cheese exports stood at $X in 2021. The total export value increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by 21%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Greece (X tons), Germany (X tons) and Romania (X tons) were the main destinations of cheese exports from Bulgaria, with a combined 47% share of total exports. The United States, Saudi Arabia, the UK, Australia, the United Arab Emirates, Sweden, Canada, Spain and Lebanon lagged somewhat behind, together comprising a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (with a CAGR of +232.7%), while the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Germany ($X) and the United States ($X) constituted the largest markets for cheese exported from Bulgaria worldwide, with a combined 51% share of total exports. These countries were followed by Romania, the UK, Saudi Arabia, Australia, Sweden, Canada, the United Arab Emirates, Lebanon and Spain, which together accounted for a further 38%.

Among the main countries of destination, Saudi Arabia, with a CAGR of +166.7%, 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

The average cheese export price stood at $X per ton in 2021, rising by 1.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2013 when the average export price increased by 13%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Saudi Arabia ($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 Spain (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese Imports

Imports into Bulgaria

For the fourth consecutive year, Bulgaria recorded growth in supplies from abroad of cheese, which increased by 19% to X tons in 2021. Overall, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +10.2% 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 +139.5% against 2012 indices. The growth pace was the most rapid in 2013 with an increase of 26% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, cheese imports surged to $X in 2021. In general, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +9.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +89.2% against 2015 indices. The growth pace was the most rapid in 2013 when imports increased by 40%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Poland (X tons) were the main suppliers of cheese imports to Bulgaria, together accounting for 64% of total imports. Italy, Belgium, Austria, Denmark, Romania, France, Greece, Lithuania and the Czech Republic lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +35.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cheese suppliers to Bulgaria were Germany ($X), the Netherlands ($X) and Poland ($X), together accounting for 62% of total imports. Italy, Belgium, Romania, Denmark, France, Austria, Greece, Lithuania and the Czech Republic lagged somewhat behind, together comprising a further 35%.

Belgium, with a CAGR of +40.8%, recorded 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 cheese import price stood at $X per ton in 2021, surging by 7.9% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 21% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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