Bulgaria: Market for Crispbread, Rusks and Toasted Bread 2024

Market Size for Crispbread, Rusks and Toasted Bread in Bulgaria

After six years of growth, the Bulgarian market for crispbread, rusks and toasted bread decreased by -53.2% to $X in 2022. Overall, consumption saw a noticeable setback. Crispbread, rusk and toasted bread consumption peaked at $X in 2021, and then fell significantly in the following year.

Production of Crispbread, Rusks and Toasted Bread in Bulgaria

In value terms, crispbread, rusk and toasted bread production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 16%. Over the period under review, production attained the maximum level at $X in 2021, and then contracted in the following year.

Exports of Crispbread, Rusks and Toasted Bread

Exports from Bulgaria

In 2022, crispbread, rusk and toasted bread exports from Bulgaria was estimated at X tons, picking up by 4.5% compared with the year before. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 17% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, crispbread, rusk and toasted bread exports stood at $X in 2022. The total export value increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 20%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Poland (X tons), Serbia (X tons) and Greece (X tons) were the main destinations of crispbread, rusk and toasted bread exports from Bulgaria, with a combined 29% share of total exports. Albania, Germany, Romania, Ukraine, the United States, Croatia, North Macedonia, the Czech Republic, Georgia and Bosnia and Herzegovina lagged somewhat behind, together comprising a further 49%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +58.9%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Serbia ($X) and Germany ($X) were the largest markets for crispbread, rusk and toasted bread exported from Bulgaria worldwide, together accounting for 28% of total exports. Albania, Greece, Ukraine, Romania, the United States, Croatia, North Macedonia, the Czech Republic, Georgia and Bosnia and Herzegovina lagged somewhat behind, together accounting for a further 46%.

Among the main countries of destination, the United States, with a CAGR of +55.1%, recorded the highest rates of growth with regard to 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 export price for crispbread, rusks and toasted bread amounted to $X per ton, surging by 6.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2017 when the average export price increased by 15% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were the Czech Republic ($X per ton) and Georgia ($X per ton), while the average price for exports to Greece ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crispbread, Rusks and Toasted Bread

Imports into Bulgaria

In 2022, imports of crispbread, rusks and toasted bread into Bulgaria surged to X tons, jumping by 19% against 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its volume 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, imports increased by +61.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 36%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, crispbread, rusk and toasted bread imports soared to $X in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +87.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 41%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Greece (X tons) constituted the largest crispbread, rusk and toasted bread supplier to Bulgaria, with a 46% share of total imports. Moreover, crispbread, rusk and toasted bread imports from Greece exceeded the figures recorded by the second-largest supplier, Romania (X tons), threefold. Spain (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Greece amounted to +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (-2.4% per year) and Spain (+45.1% per year).

In value terms, Greece ($X) constituted the largest supplier of crispbread, rusks and toasted bread to Bulgaria, comprising 38% of total imports. The second position in the ranking was held by Romania ($X), with a 19% share of total imports. It was followed by Spain, with an 18% share.

From 2012 to 2022, the average annual growth rate of value from Greece stood at +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+0.7% per year) and Spain (+51.6% per year).

Import Prices by Country

The average import price for crispbread, rusks and toasted bread stood at $X per ton in 2022, rising by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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