Bulgaria: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Bulgaria

The Bulgarian frozen fish and seafood market skyrocketed to $X in 2022, with an increase of X% against the previous year. In general, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Frozen Fish And Seafood in Bulgaria

In value terms, frozen fish and seafood production surged to $X in 2022 estimated in export price. In general, production, however, continues to indicate prominent growth. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Frozen Fish And Seafood

Exports from Bulgaria

In 2022, frozen fish and seafood exports from Bulgaria reduced sharply to X tons, with a decrease of X% compared with the previous year's figure. In general, exports saw a abrupt curtailment. The pace of growth was the most pronounced in 2017 when exports increased by X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, frozen fish and seafood exports soared to $X in 2022. Over the period under review, total exports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Romania (X tons) was the main destination for frozen fish and seafood exports from Bulgaria, with a X% share of total exports. Moreover, frozen fish and seafood exports to Romania exceeded the volume sent to the second major destination, Sweden (X tons), threefold. Germany (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Romania totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and Germany (X% per year).

In value terms, Sweden ($X), Romania ($X) and Germany ($X) constituted the largest markets for frozen fish and seafood exported from Bulgaria worldwide, with a combined X% share of total exports. Spain, Denmark, the Netherlands, Greece, the UK, South Korea, France and Poland lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, the Netherlands, with a CAGR of X%, recorded 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

In 2022, the average frozen fish and seafood export price amounted to $X per ton, surging by X% against the previous year. In general, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen fish and seafood export price increased by X% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish And Seafood

Imports into Bulgaria

In 2022, supplies from abroad of frozen fish and seafood increased by X% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish and seafood imports soared to $X in 2022. In general, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons), Denmark (X tons) and Spain (X tons) were the main suppliers of frozen fish and seafood imports to Bulgaria, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X), the Netherlands ($X) and Spain ($X) appeared to be the largest frozen fish and seafood suppliers to Bulgaria, with a combined X% share of total imports.

Among the main suppliers, Denmark, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average frozen fish and seafood import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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