Bulgaria: Chocolate Market 2025

Chocolate Market Size in Bulgaria

In 2022, the Bulgarian chocolate market increased by 3.6% to $X, rising for the fourth consecutive year after three years of decline. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +51.5% against 2018 indices. Chocolate consumption peaked in 2022 and is expected to retain growth in years to come.

Chocolate Production in Bulgaria

In value terms, chocolate production totaled $X in 2022 estimated in export price. Overall, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.8% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 69% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Chocolate Exports

Exports from Bulgaria

In 2022, after two years of decline, there was significant growth in overseas shipments of chocolate and other food preparations containing cocoa, when their volume increased by 15% to X tons. Overall, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -31.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 62% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, chocolate exports surged to $X in 2022. In general, exports posted strong growth. The pace of growth was the most pronounced in 2013 with an increase of 55% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Romania (X tons), the Netherlands (X tons) and Poland (X tons) were the main destinations of chocolate exports from Bulgaria, with a combined 74% share of total exports. Serbia, Moldova, Greece and Turkey lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Moldova (with a CAGR of +376.5%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Poland ($X) and Romania ($X) appeared to be the largest markets for chocolate exported from Bulgaria worldwide, with a combined 71% share of total exports. Serbia, Turkey, Greece and Moldova lagged somewhat behind, together comprising a further 20%.

In terms of the main countries of destination, Moldova, with a CAGR of +493.6%, 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 chocolate export price amounted to $X per ton, jumping by 32% against the previous year. In general, export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chocolate export price increased by +84.4% against 2013 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Romania ($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 Moldova (+24.6%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Bulgaria

In 2022, supplies from abroad of chocolate and other food preparations containing cocoa increased by 8.8% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2016 with an increase of 125%. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, chocolate imports skyrocketed to $X in 2022. Overall, imports showed a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 122%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Romania (X tons), Greece (X tons) and Turkey (X tons) were the main suppliers of chocolate imports to Bulgaria, together comprising 66% of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +81.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate suppliers to Bulgaria were Romania ($X), Turkey ($X) and Belgium ($X), with a combined 56% share of total imports.

Among the main suppliers, Turkey, with a CAGR of +87.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, increasing by 24% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Belgium ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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