Bulgaria: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Bulgaria

The Bulgarian seafood meals and pellets market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, consumption, however, saw a noticeable setback. Seafood meals and pellets consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Bulgaria

In value terms, seafood meals and pellets production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2013 when the production volume increased by 15% against the previous year. Seafood meals and pellets production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Bulgaria

In 2020, shipments abroad of flours, meals and pellets of fish or of crustaceans and molluscs increased by 2.4% to X tons, rising for the fourth consecutive year after two years of decline. In general, exports, however, saw a sharp decrease. The pace of growth was the most pronounced in 2014 with an increase of 77% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2020, the growth of the exports failed to regain momentum.

In value terms, seafood meals and pellets exports contracted to $X in 2020. Overall, exports, however, faced a significant decline. The pace of growth was the most pronounced in 2014 when exports increased by 47% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2020, the growth of the exports remained at a lower figure.

Exports by Country

Greece (X tons) was the main destination for seafood meals and pellets exports from Bulgaria, with a approx. 100% share of total exports.

From 2012 to 2020, the average annual rate of growth in terms of volume to Greece totaled -21.7%.

In value terms, Greece ($X) also remains the key foreign market for flours, meals and pellets of fish or of crustaceans and molluscs exports from Bulgaria.

From 2012 to 2020, the average annual growth rate of value to Greece totaled -32.2%.

Export Prices by Country

In 2020, the average seafood meals and pellets export price amounted to $X per ton, declining by -13.3% against the previous year. Over the period under review, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2016 when the average export price increased by 19% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2020, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Greece.

From 2012 to 2020, the rate of growth in terms of prices for Turkey amounted to +40.7% per year.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Bulgaria

In 2021, overseas purchases of flours, meals and pellets of fish or of crustaceans and molluscs increased by 10% to X tons, rising for the second consecutive year after four years of decline. In general, imports, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2020 with an increase of 22%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, seafood meals and pellets imports declined slightly to $X in 2021. Overall, imports, however, continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2020 with an increase of 24% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Austria (X tons), Denmark (X tons) and Spain (X tons) were the main suppliers of seafood meals and pellets imports to Bulgaria, with a combined 90% share of total imports. Morocco, Germany and Estonia lagged somewhat behind, together accounting for a further 9.7%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Morocco (with a CAGR of +200.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest seafood meals and pellets suppliers to Bulgaria were Denmark ($X), Austria ($X) and Spain ($X), with a combined 88% share of total imports. These countries were followed by Morocco, Germany and Estonia, which together accounted for a further 11%.

In terms of the main suppliers, Morocco, with a CAGR of +207.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average seafood meals and pellets import price stood at $X per ton in 2021, falling by -11.8% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 37%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Estonia (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :