Bulgaria: Cream Market 2021

Cream Market Size in Bulgaria

The Bulgarian cream market reduced slightly to $X in 2020, therefore, remained relatively stable against the previous year. Over the period under review, consumption saw a abrupt slump. The most prominent rate of growth was recorded in 2016 when the market value increased by X% y-o-y. Cream consumption peaked at $X in 2007; however, from 2008 to 2020, consumption failed to regain the momentum.

Cream Production in Bulgaria

In value terms, cream production declined to $X in 2020 estimated in export prices. Overall, production continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. Over the period under review, production reached the maximum level at $X in 2007; however, from 2008 to 2020, production failed to regain the momentum.

Cream Exports

Exports from Bulgaria

In 2020, cream exports from Bulgaria rose slightly to X tons, growing by X% compared with 2019 figures. In general, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2008 when exports increased by X% year-to-year. Over the period under review, exports attained the peak figure in 2020 and are likely to continue growth in the near future.

In value terms, cream exports expanded rapidly to $X in 2020. Overall, exports recorded a significant increase. The pace of growth appeared the most rapid in 2008 when exports increased by X% y-o-y. Over the period under review, exports attained the peak figure in 2020 and are expected to retain growth in the immediate term.

Exports by Country

Italy (X tons) was the main destination for cream exports from Bulgaria, accounting for a X% share of total exports. It was followed by Hungary (X tons), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of volume to Italy stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+X% per year) and Lebanon (+X% per year).

In value terms, the largest markets for cream exported from Bulgaria were Italy ($X), Hungary ($X) and Lebanon ($X saw the highest growth rate of the value of exports, among 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

In 2020, the average cream export price amounted to $X per ton, increasing by X% against the previous year. Overall, export price indicated a measured expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, cream export price increased by +X% against 2011 indices. The pace of growth was the most pronounced in 2008 when the average export price increased by X% against the previous year. The export price peaked in 2020 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2020, the country with the highest price was Hungary ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Hungary, while the prices for the other major destinations experienced mixed trend patterns.

Cream Imports

Imports into Bulgaria

In 2020, imports of cream into Bulgaria fell to X tons, with a decrease of -X% compared with the previous year's figure. In general, imports saw a abrupt downturn. The growth pace was the most rapid in 2008 with an increase of X% y-o-y. Imports peaked at X tons in 2011; however, from 2012 to 2020, imports remained at a lower figure.

In value terms, cream imports reduced dramatically to $X in 2020. Overall, imports recorded a precipitous slump. The most prominent rate of growth was recorded in 2008 with an increase of X% year-to-year. Over the period under review, imports attained the peak figure at $X in 2011; however, from 2012 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, Italy (X tons) constituted the largest cream supplier to Bulgaria, accounting for a X% share of total imports. Moreover, cream imports from Italy exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold.

From 2007 to 2020, the average annual rate of growth in terms of volume from Italy amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-X% per year) and Slovakia (-X% per year).

In value terms, Italy ($X) constituted the largest supplier of cream to Bulgaria, comprising X% of total imports. The second position in the ranking was occupied by Slovakia ($X), with a X% share of total imports.

From 2007 to 2020, the average annual rate of growth in terms of value from Italy totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (-X% per year) and Spain (-X% per year).

Import Prices by Country

The average cream import price stood at $X per ton in 2020, reducing by -X% against the previous year. In general, the import price faced a deep downturn. The growth pace was the most rapid in 2010 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2007; however, from 2008 to 2020, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Slovakia ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Slovakia, while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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