Bulgaria: Industrial Bakery Machinery Market 2024

Industrial Bakery Machinery Market Size in Bulgaria

The Bulgarian industrial bakery machinery market reduced sharply to $X in 2022, with a decrease of -65.9% against the previous year. Overall, consumption continues to indicate a deep downturn. Industrial bakery machinery consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Industrial Bakery Machinery Production in Bulgaria

In value terms, industrial bakery machinery production declined to $X in 2022 estimated in export price. Over the period under review, the total production indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +35.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 36%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Industrial Bakery Machinery Exports

Exports from Bulgaria

After three years of growth, overseas shipments of industrial bakery machinery decreased by -3.7% to X units in 2022. In general, exports, however, posted a significant expansion. The growth pace was the most rapid in 2019 when exports increased by 376% against the previous year. The exports peaked at X units in 2021, and then contracted slightly in the following year.

In value terms, industrial bakery machinery exports surged to $X in 2022. Overall, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 270% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Italy (X units) was the main destination for industrial bakery machinery exports from Bulgaria, accounting for a 80% share of total exports. Moreover, industrial bakery machinery exports to Italy exceeded the volume sent to the second major destination, Moldova (X units), tenfold. Iran (X units) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled +197.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Moldova (+6.5% per year) and Iran (+130.8% per year).

In value terms, Italy ($X) remains the key foreign market for industrial bakery machinery exports from Bulgaria, comprising 52% of total exports. The second position in the ranking was held by Iran ($X), with a 22% share of total exports. It was followed by Moldova, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value to Italy stood at +180.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+101.2% per year) and Moldova (+4.7% per year).

Export Prices by Country

In 2022, the average industrial bakery machinery export price amounted to $X per unit, growing by 43% against the previous year. Over the period under review, the export price, however, recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2018 when the average export price increased by 51%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iran ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Armenia (+4.2%), while the prices for the other major destinations experienced mixed trend patterns.

Industrial Bakery Machinery Imports

Imports into Bulgaria

In 2022, after two years of growth, there was significant decline in overseas purchases of industrial bakery machinery, when their volume decreased by -19.1% to X units. Overall, imports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 82% against the previous year. Over the period under review, imports reached the maximum at X units in 2021, and then shrank significantly in the following year.

In value terms, industrial bakery machinery imports reduced notably to $X in 2022. Over the period under review, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 61% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then shrank sharply in the following year.

Imports by Country

China (X units), Italy (X units) and Greece (X units) were the main suppliers of industrial bakery machinery imports to Bulgaria, together comprising 58% of total imports. These countries were followed by Turkey, Estonia, the Czech Republic, the United States, Germany and France, which together accounted for a further 37%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +104.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial bakery machinery suppliers to Bulgaria were Greece ($X), Italy ($X) and Germany ($X), with a combined 64% share of total imports. These countries were followed by China, Turkey, the Czech Republic, France, Estonia and the United States, which together accounted for a further 23%.

The Czech Republic, with a CAGR of +128.1%, 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 industrial bakery machinery import price stood at $X per unit in 2022, waning by -22.4% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 39% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+16.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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