Bulgaria: Market for Gym and Fitness Equipment 2024

Market Size for Gym and Fitness Equipment in Bulgaria

The Bulgarian gym and fitness equipment market dropped slightly to $X in 2022, with a decrease of -4.7% against the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Gym and fitness equipment consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Gym and Fitness Equipment in Bulgaria

In value terms, gym and fitness equipment production surged to $X in 2022 estimated in export price. Overall, production, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 151% against the previous year. Over the period under review, production reached the peak level in 2022 and is expected to retain growth in the near future.

Exports of Gym and Fitness Equipment

Exports from Bulgaria

In 2022, the amount of gym and fitness equipment exported from Bulgaria shrank to X tons, reducing by -13.4% compared with the year before. In general, exports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2016 when exports increased by 83% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, gym and fitness equipment exports stood at $X in 2022. Overall, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2016 when exports increased by 123% 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

The United States (X tons) was the main destination for gym and fitness equipment exports from Bulgaria, with a 18% share of total exports. Moreover, gym and fitness equipment exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was held by France (X tons), with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +58.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+6.2% per year) and France (+9.3% per year).

In value terms, the United States ($X) remains the key foreign market for gym and fitness equipment exports from Bulgaria, comprising 18% of total exports. The second position in the ranking was held by Germany ($X), with a 7.5% share of total exports. It was followed by the United Arab Emirates, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +55.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+11.3% per year) and the United Arab Emirates (+52.6% per year).

Export Prices by Country

The average gym and fitness equipment export price stood at $X per ton in 2022, surging by 20% against the previous year. Over the period under review, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, gym and fitness equipment export price increased by +103.1% against 2015 indices. The pace of growth appeared the most rapid in 2016 an increase of 21% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Serbia ($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 (+7.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Gym and Fitness Equipment

Imports into Bulgaria

After five years of growth, overseas purchases of gym and fitness equipment decreased by -22% to X tons in 2022. In general, imports, however, posted resilient growth. The pace of growth was the most pronounced in 2019 with an increase of 36%. Imports peaked at X tons in 2021, and then contracted rapidly in the following year.

In value terms, gym and fitness equipment imports fell to $X in 2022. Over the period under review, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by 47% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

China (X tons), Romania (X tons) and Germany (X tons) were the main suppliers of gym and fitness equipment imports to Bulgaria, with a combined 85% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +26.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest gym and fitness equipment suppliers to Bulgaria were China ($X), Romania ($X) and Italy ($X), together comprising 74% of total imports.

In terms of the main suppliers, Romania, with a CAGR of +25.4%, 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

In 2022, the average gym and fitness equipment import price amounted to $X per ton, surging by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2014 when the average import price increased by 19% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+3.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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