Bulgaria: Dairy Machinery Market 2024

Dairy Machinery Market Size in Bulgaria

The Bulgarian dairy machinery market reduced remarkably to $X in 2022, falling by -87.4% against the previous year. Over the period under review, consumption showed a abrupt contraction. Dairy machinery consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Dairy Machinery Production in Bulgaria

In value terms, dairy machinery production fell significantly to $X in 2022 estimated in export price. In general, production saw a mild decrease. The most prominent rate of growth was recorded in 2017 with an increase of 60%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Dairy Machinery Exports

Exports from Bulgaria

In 2022, exports of dairy machinery from Bulgaria dropped remarkably to X units, waning by -19.1% against 2021. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 75%. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, dairy machinery exports shrank significantly to $X in 2022. Overall, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2017 when exports increased by 99% against the previous year. The exports peaked at $X in 2021, and then declined remarkably in the following year.

Exports by Country

Egypt (X units), Denmark (X units) and Oman (X units) were the main destinations of dairy machinery exports from Bulgaria, together comprising 64% of total exports. India, Uzbekistan, Ireland, Iraq, Georgia, Iran, Rwanda, Turkey and Russia lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +85.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for dairy machinery exported from Bulgaria were Egypt ($X), Denmark ($X) and Uzbekistan ($X), together comprising 44% of total exports. Oman, India, Iran, Iraq, Rwanda, Ireland, Georgia, Turkey and Russia lagged somewhat behind, together accounting for a further 36%.

Among the main countries of destination, India, with a CAGR of +114.6%, 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

The average dairy machinery export price stood at $X per unit in 2022, shrinking by -47.5% against the previous year. Over the period under review, the export price saw a abrupt curtailment. The pace of growth appeared the most rapid in 2020 an increase of 39% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Egypt ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+29.5%), while the prices for the other major destinations experienced more modest paces of growth.

Dairy Machinery Imports

Imports into Bulgaria

For the third year in a row, Bulgaria recorded decline in overseas purchases of dairy machinery, which decreased by -25.3% to X units in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 558%. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, dairy machinery imports fell significantly to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 519% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X units) constituted the largest dairy machinery supplier to Bulgaria, with a 68% share of total imports. Moreover, dairy machinery imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was held by Italy (X units), with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +64.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.9% per year) and Italy (-5.8% per year).

In value terms, Turkey ($X) constituted the largest supplier of dairy machinery to Bulgaria, comprising 61% of total imports. The second position in the ranking was taken by Italy ($X), with a 22% share of total imports. It was followed by China, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value from Turkey totaled +60.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.4% per year) and China (+26.3% per year).

Import Prices by Country

The average dairy machinery import price stood at $X per unit in 2022, reducing by -55.3% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 66%. As a result, import price reached the peak level of $X per unit, and then contracted markedly in the following year.

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 Denmark ($X per unit), while the price for Greece ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+421.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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