Bulgaria: Paper Label Market 2024

Paper Label Market Size in Bulgaria

For the fourth consecutive year, the Bulgarian paper label market recorded decline in sales value, which decreased by -51.7% to $X in 2021. In general, consumption faced a abrupt shrinkage. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Paper Label Production in Bulgaria

In value terms, paper label production declined rapidly to $X in 2021 estimated in export price. Overall, production showed a sharp decline. The pace of growth appeared the most rapid in 2014 when the production volume increased by 14% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Paper Label Exports

Exports from Bulgaria

In 2021, overseas shipments of labels of paper or paperboard increased by 21% to X tons, rising for the second consecutive year after three years of decline. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 39%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, paper label exports surged to $X in 2021. The total export value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 37% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Romania (X tons) was the main destination for paper label exports from Bulgaria, with a 31% share of total exports. Moreover, paper label exports to Romania exceeded the volume sent to the second major destination, Greece (X tons), twofold. The third position in this ranking was held by Moldova (X tons), with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Romania amounted to +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (-3.2% per year) and Moldova (-0.6% per year).

In value terms, Romania ($X) remains the key foreign market for labels of paper or paperboard exports from Bulgaria, comprising 27% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 13% share of total exports. It was followed by Greece, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania totaled +5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+74.8% per year) and Greece (-3.3% per year).

Export Prices by Country

The average paper label export price stood at $X per ton in 2021, rising by 4.8% against the previous year. Overall, export price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, paper label export price increased by +4.6% against 2018 indices. The growth pace was the most rapid in 2017 an increase of 43% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in the near future.

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 Saudi Arabia ($X per ton), while the average price for exports to the Czech Republic ($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 Germany (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Paper Label Imports

Imports into Bulgaria

In 2021, overseas purchases of labels of paper or paperboard increased by 26% to X tons, rising for the fourth consecutive year after two years of decline. The total import volume increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 34%. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, paper label imports rose notably to $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 23% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of paper label to Bulgaria, with a 33% share of total imports. Moreover, paper label imports from Germany exceeded the figures recorded by the second-largest supplier, Romania (X tons), twofold. Turkey (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+9.4% per year) and Turkey (+12.5% per year).

In value terms, Turkey ($X) constituted the largest supplier of labels of paper or paperboard to Bulgaria, comprising 24% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by Greece, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Turkey stood at +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.9% per year) and Greece (-4.6% per year).

Import Prices by Country

The average paper label import price stood at $X per ton in 2021, with a decrease of -10.9% against the previous year. Over the period under review, the import price continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2017 an increase of 21% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Serbia (+2.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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