Bulgaria: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Bulgaria

The Bulgarian evaporated and condensed milk market skyrocketed to $X in 2022, growing by 20% against the previous year. Overall, the total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Evaporated And Condensed Milk in Bulgaria

In value terms, evaporated and condensed milk production soared to $X in 2022 estimated in export price. Over the period under review, production, however, faced a abrupt downturn. The growth pace was the most rapid in 2020 with an increase of 122%. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Evaporated And Condensed Milk

Exports from Bulgaria

In 2022, after three years of growth, there was significant decline in overseas shipments of evaporated and condensed milk, when their volume decreased by -59.4% to X tons. Over the period under review, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 491% against the previous year. As a result, the exports attained the peak of X tons, and then contracted markedly in the following year.

In value terms, evaporated and condensed milk exports dropped significantly to $X in 2022. Overall, exports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of 517%. Over the period under review, the exports attained the maximum at $X in 2021, and then dropped notably in the following year.

Exports by Country

Romania (X tons) was the main destination for evaporated and condensed milk exports from Bulgaria, accounting for a 68% share of total exports. Moreover, evaporated and condensed milk exports to Romania exceeded the volume sent to the second major destination, Greece (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Romania stood at +14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (-0.8% per year) and Cyprus (+30.6% per year).

In value terms, Romania ($X) remains the key foreign market for evaporated and condensed milk exports from Bulgaria, comprising 69% of total exports. The second position in the ranking was taken by Greece ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Romania stood at +19.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (-1.7% per year) and Cyprus (+36.3% per year).

Export Prices by Country

In 2022, the average evaporated and condensed milk export price amounted to $X per ton, rising by 15% against the previous year. In general, the export price posted a noticeable expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 71%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Greece ($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 Cyprus (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Evaporated And Condensed Milk

Imports into Bulgaria

Evaporated and condensed milk imports into Bulgaria shrank to X tons in 2022, declining by -5.4% on the year before. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 42%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +61.7% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 90% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of evaporated and condensed milk to Bulgaria, with a 57% share of total imports. Moreover, evaporated and condensed milk imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. Romania (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at -1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+71.9% per year) and Romania (+59.3% per year).

In value terms, Germany ($X) constituted the largest supplier of evaporated and condensed milk to Bulgaria, comprising 52% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 13% share of total imports. It was followed by Romania, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+60.8% per year) and Romania (+71.3% per year).

Import Prices by Country

In 2022, the average evaporated and condensed milk import price amounted to $X per ton, growing by 27% against the previous year. Overall, the import price saw noticeable growth. The pace of growth was the most pronounced in 2013 when the average import price increased by 50%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

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 Portugal ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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