Bulgaria: Market for Frozen Vegetables other than Potato and Corn 2024

Market Size for Frozen Vegetables other than Potato and Corn in Bulgaria

The Bulgarian market for frozen vegetables other than potato and corn skyrocketed to $X in 2022, with an increase of 37% against the previous year. Overall, consumption enjoyed a prominent increase. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the near future.

Production of Frozen Vegetables other than Potato and Corn in Bulgaria

In value terms, production of frozen vegetables other than potato and corn skyrocketed to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by 32%. Production of peaked in 2022 and is expected to retain growth in the immediate term.

Exports of Frozen Vegetables other than Potato and Corn

Exports from Bulgaria

In 2022, overseas shipments of frozen vegetables other than potato and corn decreased by -11.1% to X tons, falling for the fourth consecutive year after three years of growth. In general, exports saw a noticeable decrease. The pace of growth appeared the most rapid in 2013 when exports increased by 32%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of frozen vegetables other than potato and corn expanded markedly to $X in 2022. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, 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 36% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Greece (X tons) was the main destination for exports of frozen vegetables other than potato and corn from Bulgaria, with a 43% share of total exports. Moreover, exports of frozen vegetables other than potato and corn to Greece exceeded the volume sent to the second major destination, Italy (X tons), threefold. Germany (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Greece amounted to -5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+1.9% per year) and Germany (-5.4% per year).

In value terms, the largest markets for frozen vegetables other than potato and corn exported from Bulgaria were Italy ($X), Greece ($X) and Germany ($X), with a combined 71% share of total exports. France, Spain, Serbia, South Korea, Romania, Poland, Belgium and Austria lagged somewhat behind, together comprising a further 22%.

In terms of the main countries of destination, Serbia, with a CAGR of +43.0%, 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

The average export price for frozen vegetables other than potato and corn stood at $X per ton in 2022, with an increase of 19% against the previous year. In general, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the average export price increased by 22% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

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 France ($X per ton), while the average price for exports to Romania ($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 (+10.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Vegetables other than Potato and Corn

Imports into Bulgaria

In 2022, approx. X tons of frozen vegetables other than potato and corn were imported into Bulgaria; picking up by 15% on the previous year. Over the period under review, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +8.8% 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 +7.0% against 2019 indices. The growth pace was the most rapid in 2016 when imports increased by 31% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, imports of frozen vegetables other than potato and corn skyrocketed to $X in 2022. In general, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 26% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Greece (X tons), Belgium (X tons) and Poland (X tons) were the main suppliers of imports of frozen vegetables other than potato and corn to Bulgaria, with a combined 49% share of total imports. Turkey, Spain, Portugal, Germany, Serbia, Hungary, the Netherlands, Italy and Moldova lagged somewhat behind, together comprising a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +34.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Belgium ($X) and Poland ($X) constituted the largest frozen vegetables other than potato and corn suppliers to Bulgaria, with a combined 46% share of total imports. Turkey, Spain, Germany, the Netherlands, Italy, Serbia, Portugal, Hungary and Moldova lagged somewhat behind, together accounting for a further 46%.

Portugal, with a CAGR of +38.4%, recorded the highest rates of growth with regard to 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 import price for frozen vegetables other than potato and corn stood at $X per ton in 2022, picking up by 8.5% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 22%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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