Bulgaria: Market for Glycosides And Vegetable Alkaloids 2024

Market Size for Glycosides And Vegetable Alkaloids in Bulgaria

For the fourth consecutive year, the Bulgarian glycosides and vegetable alkaloids market recorded decline in sales value, which decreased by -26.5% to $X in 2021. Over the period under review, consumption continues to indicate a abrupt slump. Glycosides and vegetable alkaloids consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Exports of Glycosides And Vegetable Alkaloids

Exports from Bulgaria

Glycosides and vegetable alkaloids exports from Bulgaria skyrocketed to X tons in 2021, jumping by 104% compared with the year before. Overall, exports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2018 with an increase of 525% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, glycosides and vegetable alkaloids exports rose notably to $X in 2021. Over the period under review, exports posted modest growth. The most prominent rate of growth was recorded in 2018 when exports increased by 182% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Greece (X tons) was the main destination for glycosides and vegetable alkaloids exports from Bulgaria, with a 82% share of total exports. Moreover, glycosides and vegetable alkaloids exports to Greece exceeded the volume sent to the second major destination, France (X kg), more than tenfold. The UK (X kg) ranked third in terms of total exports with a 5% share.

From 2012 to 2021, the average annual growth rate of volume to Greece totaled +33.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+13.9% per year) and the UK (+16.1% per year).

In value terms, the largest markets for glycosides and vegetable alkaloids exported from Bulgaria were France ($X), the UK ($X) and Greece ($X), with a combined 72% share of total exports. These countries were followed by India, North Macedonia and China, which together accounted for a further 2.8%.

Among the main countries of destination, North Macedonia, with a CAGR of +84.3%, recorded the highest rates of growth with regard to 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 glycosides and vegetable alkaloids export price stood at $X per ton in 2021, shrinking by -46.3% against the previous year. Overall, the export price saw a abrupt decline. The most prominent rate of growth was recorded in 2020 when the average export price increased by 159% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Greece ($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 China (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glycosides And Vegetable Alkaloids

Imports into Bulgaria

In 2021, glycosides and vegetable alkaloids imports into Bulgaria contracted notably to X tons, waning by -15.3% against 2020 figures. In general, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 when imports increased by 20% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, glycosides and vegetable alkaloids imports shrank to $X in 2021. Over the period under review, imports saw a deep downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 38%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Germany (X tons) and France (X tons) were the main suppliers of glycosides and vegetable alkaloids imports to Bulgaria, together comprising 71% of total imports. Switzerland, Australia, Slovakia, Poland, Italy and India lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +189.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X) constituted the largest supplier of glycosides and vegetable alkaloids to Bulgaria, comprising 49% of total imports. The second position in the ranking was held by France ($X), with a 16% share of total imports. It was followed by China, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from Switzerland amounted to +31.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-13.8% per year) and China (-16.4% per year).

Import Prices by Country

In 2021, the average glycosides and vegetable alkaloids import price amounted to $X per ton, picking up by 6.3% against the previous year. In general, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, glycosides and vegetable alkaloids import price increased by +29.9% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of 61% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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