Bulgaria: Market for Flours, Meals And Pellets Of Meat Or Meat Offal 2024

Market Size for Flours, Meals And Pellets Of Meat Or Meat Offal in Bulgaria

The Bulgarian meat meals and pellets market rose rapidly to $X in 2021, growing by 8.8% against the previous year. The market value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Production of Flours, Meals And Pellets Of Meat Or Meat Offal in Bulgaria

In value terms, meat meals and pellets production rose markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 57%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Exports of Flours, Meals And Pellets Of Meat Or Meat Offal

Exports from Bulgaria

In 2021, the amount of flours, meals and pellets of meat or meat offal exported from Bulgaria shrank rapidly to X tons, which is down by -32.1% on the previous year's figure. Overall, exports saw a perceptible slump. The growth pace was the most rapid in 2015 when exports increased by 106%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, meat meals and pellets exports reduced dramatically to $X in 2021. In general, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2013 when exports increased by 170%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Greece (X tons) was the main destination for meat meals and pellets exports from Bulgaria, accounting for a 67% share of total exports. Moreover, meat meals and pellets exports to Greece exceeded the volume sent to the second major destination, Italy (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Greece totaled +32.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+11.6% per year) and Poland (-7.3% per year).

In value terms, Greece ($X) remains the key foreign market for flours, meals and pellets of meat or meat offal exports from Bulgaria, comprising 69% of total exports. The second position in the ranking was taken by Italy ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Greece amounted to +29.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+9.7% per year) and Poland (-8.6% per year).

Export Prices by Country

In 2021, the average meat meals and pellets export price amounted to $X per ton, rising by 12% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, meat meals and pellets export price increased by +38.3% against 2017 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 155% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Italy ($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 Austria (+10.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Flours, Meals And Pellets Of Meat Or Meat Offal

Imports into Bulgaria

In 2021, imports of flours, meals and pellets of meat or meat offal into Bulgaria reduced to X tons, waning by -13.4% on the previous year's figure. In general, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 119%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, meat meals and pellets imports shrank to $X in 2021. Overall, imports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 76%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Greece (X tons), Romania (X tons) and the Czech Republic (X tons) were the main suppliers of meat meals and pellets imports to Bulgaria, together comprising 94% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +87.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Romania ($X) and Italy ($X) appeared to be the largest meat meals and pellets suppliers to Bulgaria, with a combined 92% share of total imports.

In terms of the main suppliers, Greece, with a CAGR of +35.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average meat meals and pellets import price amounted to $X per ton, rising by 3.8% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 47% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Croatia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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