Bulgaria: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Bulgaria

In 2021, the Bulgarian fresh fish fillet market increased by 46% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption recorded a resilient increase. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the immediate term.

Fresh Fish Fillet Production in Bulgaria

In value terms, fresh fish fillet production rose markedly to $X in 2021 estimated in export price. Overall, production posted a significant expansion. The pace of growth was the most pronounced in 2013 when the production volume increased by 289% against the previous year. Fresh fish fillet production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Fresh Fish Fillet Exports

Exports from Bulgaria

Fresh fish fillet exports from Bulgaria contracted sharply to X tons in 2021, waning by -60.8% compared with the year before. Overall, exports, however, enjoyed a noticeable increase. The growth pace was the most rapid in 2014 when exports increased by 189%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, fresh fish fillet exports contracted rapidly to $X in 2021. Over the period under review, exports saw a mild decrease. The pace of growth was the most pronounced in 2016 when exports increased by 87%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Romania (X tons) was the main destination for fresh fish fillet exports from Bulgaria, with a 63% share of total exports. Moreover, fresh fish fillet exports to Romania exceeded the volume sent to the second major destination, Sweden (X tons), fourfold. Serbia (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Romania amounted to +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+42.3% per year) and Serbia (-8.1% per year).

In value terms, the largest markets for fresh fish fillet exported from Bulgaria were Serbia ($X), Romania ($X) and Sweden ($X), with a combined 94% share of total exports.

Sweden, with a CAGR of +64.7%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average fresh fish fillet export price amounted to $X per ton, picking up by 5.2% against the previous year. Over the period under review, the export price, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2013 an increase of 155%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to the UK ($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 Sweden (+15.7%), while the prices for the other major destinations experienced mixed trend patterns.

Fresh Fish Fillet Imports

Imports into Bulgaria

In 2021, overseas purchases of fresh or chilled fish fillets increased by 39% to X tons, rising for the fourth year in a row after two years of decline. In general, imports, however, continue to indicate a slight decline. The growth pace was the most rapid in 2019 when imports increased by 57% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, fresh fish fillet imports soared to $X in 2021. Over the period under review, imports posted a strong increase. The pace of growth appeared the most rapid in 2020 with an increase of 68% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Spain (X tons), the Czech Republic (X tons) and Greece (X tons) were the main suppliers of fresh fish fillet imports to Bulgaria, together comprising 77% of total imports. These countries were followed by Germany, the Netherlands, Poland and Romania, which together accounted for a further 21%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +47.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), the Czech Republic ($X) and Greece ($X) appeared to be the largest fresh fish fillet suppliers to Bulgaria, with a combined 79% share of total imports. Germany, the Netherlands, Poland and Romania lagged somewhat behind, together comprising a further 20%.

Germany, with a CAGR of +74.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fresh fish fillet import price stood at $X per ton in 2021, surging by 6.9% against the previous year. Overall, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +12.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fresh fish fillet import price increased by +69.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 102% against the previous year. The import price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for Poland ($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 (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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