Bulgaria: Battered Fish Fillet Market 2024

Battered Fish Fillet Market Size in Bulgaria

In 2021, after two years of growth, there was significant decline in the Bulgarian battered fish fillet market, when its value decreased by -10.6% to $X. Overall, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +57.6% against 2018 indices. Battered fish fillet consumption peaked at $X in 2020, and then declined in the following year.

Battered Fish Fillet Production in Bulgaria

In value terms, battered fish fillet production declined to $X in 2021 estimated in export price. Overall, the total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +58.1% against 2018 indices. The most prominent rate of growth was recorded in 2019 with an increase of 38%. Over the period under review, production attained the peak level at $X in 2020, and then contracted in the following year.

Battered Fish Fillet Exports

Exports from Bulgaria

In 2021, battered fish fillet exports from Bulgaria rose significantly to X tons, increasing by 6% against 2020. Over the period under review, exports posted a significant expansion. The growth pace was the most rapid in 2016 with an increase of 1,109%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, battered fish fillet exports skyrocketed to $X in 2021. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 1,491% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Romania (X tons), Serbia (X tons) and Spain (X tons) were the main destinations of battered fish fillet exports from Bulgaria, together comprising 72% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Serbia (with a CAGR of +114.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for battered fish fillet exported from Bulgaria were Serbia ($X), Romania ($X) and Belgium ($X), with a combined 68% share of total exports.

Among the main countries of destination, Serbia, with a CAGR of +102.8%, saw 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 battered fish fillet export price stood at $X per ton in 2021, growing by 33% against the previous year. Over the period under review, export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, battered fish fillet export price increased by +84.9% against 2018 indices. The growth pace was the most rapid in 2019 when the average export price increased by 42% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; afterwards, it flattened through to 2021.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Romania ($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 North Macedonia (+41.9%), while the prices for the other major destinations experienced more modest paces of growth.

Battered Fish Fillet Imports

Imports into Bulgaria

Battered fish fillet imports into Bulgaria surged to X tons in 2021, jumping by 18% against the year before. In general, imports showed a prominent increase. The most prominent rate of growth was recorded in 2018 when imports increased by 98% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, battered fish fillet imports surged to $X in 2021. Over the period under review, imports recorded a resilient expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 91%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of battered fish fillet to Bulgaria, with a 49% share of total imports. Moreover, battered fish fillet imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. Spain (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+16.9% per year) and Spain (+18.4% per year).

In value terms, Germany ($X) constituted the largest supplier of fish fillets in batter or breadcrumbs to Bulgaria, comprising 55% of total imports. The second position in the ranking was taken by Poland ($X), with a 15% share of total imports. It was followed by Spain, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+24.8% per year) and Spain (+21.8% per year).

Import Prices by Country

The average battered fish fillet import price stood at $X per ton in 2021, approximately equating the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2014 an increase of 24% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Latvia ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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