Bulgaria: Fructose Market 2024

Fructose Market Size in Bulgaria

The Bulgarian fructose market shrank markedly to $X in 2021, which is down by -81.9% against the previous year. Over the period under review, consumption faced a deep setback. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Fructose Production in Bulgaria

In value terms, fructose production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a slight descent. The most prominent rate of growth was recorded in 2013 with an increase of 157%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Fructose Exports

Exports from Bulgaria

In 2021, shipments abroad of fructose and fructose syrup increased by 58% to X tons, rising for the second consecutive year after two years of decline. Overall, total exports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +62.8% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fructose exports soared to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons), Romania (X tons) and Greece (X tons) were the main destinations of fructose exports from Bulgaria, together accounting for 95% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +7,607.5%), while the other leaders experienced mixed trend patterns.

In value terms, Vietnam ($X), Romania ($X) and Greece ($X) constituted the largest markets for fructose exported from Bulgaria worldwide, together accounting for 89% of total exports.

In terms of the main countries of destination, Vietnam, with a CAGR of +7,971.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average fructose export price amounted to $X per ton, surging by 11% against the previous year. Overall, the export price, however, showed a noticeable downturn. The pace of growth was the most pronounced in 2017 an increase of 26% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a 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 Greece ($X per ton), while the average price for exports to Serbia ($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 Turkey (+6.8%), while the prices for the other major destinations experienced mixed trend patterns.

Fructose Imports

Imports into Bulgaria

In 2021, approx. X tons of fructose and fructose syrup were imported into Bulgaria; increasing by 57% against the previous year's figure. In general, imports enjoyed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, fructose imports soared to $X in 2021. Over the period under review, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by 44% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Hungary (X tons) constituted the largest supplier of fructose to Bulgaria, with a 55% share of total imports. Moreover, fructose imports from Hungary exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume from Hungary totaled +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+32.3% per year) and Germany (+17.3% per year).

In value terms, the largest fructose suppliers to Bulgaria were Hungary ($X), Turkey ($X) and Germany ($X), together comprising 61% of total imports. France, the Netherlands, Slovakia, Belgium and Italy lagged somewhat behind, together comprising a further 23%.

In terms of the main suppliers, Slovakia, with a CAGR of +24.5%, 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 more modest paces of growth.

Import Prices by Country

The average fructose import price stood at $X per ton in 2021, declining by -25.6% against the previous year. Overall, the import price saw a abrupt decline. The pace of growth was the most pronounced in 2014 an increase of 49%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average 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 the Netherlands ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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