Bulgaria: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Bulgaria

The Bulgarian market for fish fillets and other fish meat skyrocketed to $X in 2022, with an increase of 22% against the previous year. Overall, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +91.4% against 2020 indices. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in years to come.

Production of Fish Fillets and Other Fish Meat in Bulgaria

In value terms, production of fish fillets and other fish meat declined remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 140%. Production of peaked at $X in 2021, and then dropped dramatically in the following year.

Exports of Fish Fillets and Other Fish Meat

Exports from Bulgaria

In 2022, exports of fish fillets and other fish meat from Bulgaria skyrocketed to X tons, rising by 28% compared with the previous year's figure. Over the period under review, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 51%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, exports of fish fillets and other fish meat skyrocketed to $X in 2022. Overall, exports saw a buoyant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 43% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X tons) was the main destination for exports of fish fillets and other fish meat from Bulgaria, with a 48% share of total exports. Moreover, exports of fish fillets and other fish meat to Sweden exceeded the volume sent to the second major destination, Germany (X tons), twofold. The Netherlands (X tons) ranked third in terms of total exports with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden amounted to +16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+57.4% per year) and the Netherlands (+11.7% per year).

In value terms, Sweden ($X) remains the key foreign market for fish fillets and other fish meat exports from Bulgaria, comprising 54% of total exports. The second position in the ranking was taken by Germany ($X), with a 21% share of total exports. It was followed by the Netherlands, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden totaled +27.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+54.5% per year) and the Netherlands (+11.5% per year).

Export Prices by Country

The average export price for fish fillets and other fish meat stood at $X per ton in 2022, rising by 11% against the previous year. Overall, the export price continues to indicate a strong increase. The pace of growth was the most pronounced in 2015 when the average export price increased by 59%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Lithuania ($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 Denmark (+20.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fillets and Other Fish Meat

Imports into Bulgaria

In 2022, the amount of fish fillets and other fish meat imported into Bulgaria soared to X tons, surging by 37% against 2021 figures. In general, imports, however, showed a relatively flat trend pattern. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of fish fillets and other fish meat soared to $X in 2022. Overall, imports recorded buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Spain (X tons) constituted the largest fish fillets and other fish meat supplier to Bulgaria, accounting for a 26% share of total imports. Moreover, imports of fish fillets and other fish meat from Spain exceeded the figures recorded by the second-largest supplier, Argentina (X tons), threefold. China (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2022, the average annual growth rate of volume from Spain totaled +23.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+3.9% per year) and China (-6.6% per year).

In value terms, Spain ($X) constituted the largest supplier of fish fillets and other fish meat to Bulgaria, comprising 30% of total imports. The second position in the ranking was taken by Sweden ($X), with an 11% share of total imports. It was followed by the Czech Republic, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain amounted to +35.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+43.3% per year) and the Czech Republic (+11.2% per year).

Import Prices by Country

In 2022, the average import price for fish fillets and other fish meat amounted to $X per ton, surging by 13% against the previous year. In general, the import price posted resilient growth. The most prominent rate of growth was recorded in 2018 an increase of 23% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 the Czech Republic ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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