Bulgaria: Preserved Fish Fillet Market 2024

Preserved Fish Fillet Market Size in Bulgaria

The Bulgarian preserved fish fillet market declined markedly to $X in 2021, waning by -21.2% against the previous year. Over the period under review, consumption recorded a mild slump. Preserved fish fillet consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Preserved Fish Fillet Production in Bulgaria

In value terms, preserved fish fillet production contracted to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt decline. The growth pace was the most rapid in 2016 with an increase of 2.9%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Preserved Fish Fillet Exports

Exports from Bulgaria

For the fifth year in a row, Bulgaria recorded growth in overseas shipments of fish fillets (dried, salted or in brine, but not smoked), which increased by 29% to X tons in 2021. In general, exports saw significant growth. The pace of growth was the most pronounced in 2013 when exports increased by 19,344%. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, preserved fish fillet exports soared to $X in 2021. Over the period under review, exports saw a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 8,650% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

Romania (X tons) was the main destination for preserved fish fillet exports from Bulgaria, with a 97% share of total exports. It was followed by Spain (X tons), with a 2.3% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Romania totaled +79.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+106.5% per year) and Sweden (-32.6% per year).

In value terms, Romania ($X) remains the key foreign market for fish fillets (dried, salted or in brine, but not smoked) exports from Bulgaria, comprising 99% of total exports. The second position in the ranking was taken by Sweden ($X), with a 0.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Romania stood at +85.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-35.0% per year) and Spain (+72.8% per year).

Export Prices by Country

The average preserved fish fillet export price stood at $X per ton in 2021, declining by -2.6% against the previous year. Over the period under review, the export price faced a abrupt decline. The growth pace was the most rapid in 2017 when the average export price increased by 46%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Romania ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+3.0%), while the prices for the other major destinations experienced a decline.

Preserved Fish Fillet Imports

Imports into Bulgaria

In 2021, approx. X tons of fish fillets (dried, salted or in brine, but not smoked) were imported into Bulgaria; growing by 178% on the year before. Over the period under review, imports enjoyed a buoyant increase. The growth pace was the most rapid in 2015 with an increase of 518% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, preserved fish fillet imports skyrocketed to $X in 2021. Overall, imports posted significant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 592%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Sweden (X tons), Romania (X tons) and Lithuania (X tons) were the main suppliers of preserved fish fillet imports to Bulgaria, together comprising 93% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +11.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X) constituted the largest supplier of fish fillets (dried, salted or in brine, but not smoked) to Bulgaria, comprising 70% of total imports. The second position in the ranking was taken by Belarus ($X), with an 11% share of total imports. It was followed by Lithuania, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value from Romania amounted to +25.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belarus (+17.7% per year) and Lithuania (+10.2% per year).

Import Prices by Country

In 2021, the average preserved fish fillet import price amounted to $X per ton, reducing by -49.9% against the previous year. Over the period under review, the import price, however, posted a strong expansion. The growth pace was the most rapid in 2014 an increase of 128%. Over the period under review, average import prices reached the peak figure at $X per ton in 2020, and then fell remarkably in the following year.

Prices varied noticeably country of origin: the country with the highest price was Belarus ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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