Bulgaria: Coffee Extract Market 2024

Coffee Extract Market Size in Bulgaria

The Bulgarian coffee extract market shrank markedly to $X in 2021, which is down by -24.4% against the previous year. In general, consumption continues to indicate a noticeable slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Coffee Extract Production in Bulgaria

In value terms, coffee extract production declined notably to $X in 2021 estimated in export price. In general, production saw a sharp decrease. The most prominent rate of growth was recorded in 2014 with an increase of 418%. Coffee extract production peaked at $X in 2020, and then dropped markedly in the following year.

Coffee Extract Exports

Exports from Bulgaria

Coffee extract exports from Bulgaria shrank notably to X tons in 2021, with a decrease of -62.5% against the year before. Over the period under review, exports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2013 with an increase of 75%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, coffee extract exports fell sharply to $X in 2021. In general, exports continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 48% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Greece (X tons), Kosovo (X tons) and Germany (X tons) were the main destinations of coffee extract exports from Bulgaria, with a combined 36% share of total exports. Serbia, Saudi Arabia, the UK, Cyprus, Poland, Romania, Latvia, North Macedonia, Canada and Lebanon lagged somewhat behind, together accounting for a further 51%.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +499.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Greece ($X) and Canada ($X) were the largest markets for coffee extract exported from Bulgaria worldwide, together comprising 44% of total exports.

Canada, with a CAGR of +372.3%, 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 coffee extract export price stood at $X per ton in 2021, increasing by 70% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by 109% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Kosovo ($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 Latvia (+40.2%), while the prices for the other major destinations experienced more modest paces of growth.

Coffee Extract Imports

Imports into Bulgaria

In 2021, overseas purchases of coffee extracts, essences and concentrates increased by 1.3% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 35% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, coffee extract imports reached $X in 2021. Over the period under review, imports, however, recorded a slight downturn. The pace of growth was the most pronounced in 2013 when imports increased by 27% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Hungary (X tons) constituted the largest supplier of coffee extract to Bulgaria, accounting for a 53% share of total imports. Moreover, coffee extract imports from Hungary exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), fourfold. The third position in this ranking was taken by Brazil (X tons), with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Hungary totaled -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+4.8% per year) and Brazil (+2.0% per year).

In value terms, Hungary ($X) constituted the largest supplier of coffee extracts, essences and concentrates to Bulgaria, comprising 30% of total imports. The second position in the ranking was held by Brazil ($X), with a 14% share of total imports. It was followed by the Czech Republic, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Hungary amounted to -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-0.3% per year) and the Czech Republic (+5.8% per year).

Import Prices by Country

The average coffee extract import price stood at $X per ton in 2021, surging by 1.9% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 17% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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