Bulgaria: Lip Make-Up Preparations Market 2024

Lip Make-Up Preparations Market Size in Bulgaria

In 2022, the Bulgarian lip make-up preparations market was finally on the rise to reach $X for the first time since 2017, thus ending a four-year declining trend. In general, consumption continues to indicate a mild expansion. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Lip Make-Up Preparations Production in Bulgaria

In value terms, lip make-up preparations production declined to $X in 2022 estimated in export price. In general, production, however, showed a prominent increase. The growth pace was the most rapid in 2014 with an increase of 83% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Lip Make-Up Preparations Exports

Exports from Bulgaria

In 2022, overseas shipments of lip make-up preparations decreased by -88.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, posted a resilient increase. The pace of growth was the most pronounced in 2021 with an increase of 259% against the previous year. As a result, the exports attained the peak of X tons, and then fell sharply in the following year.

In value terms, lip make-up preparations exports declined remarkably to $X in 2022. Over the period under review, exports, however, continue to indicate a notable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 170%. As a result, the exports reached the peak of $X, and then shrank rapidly in the following year.

Exports by Country

Greece (X tons) was the main destination for lip make-up preparations exports from Bulgaria, accounting for a 54% share of total exports. Moreover, lip make-up preparations exports to Greece exceeded the volume sent to the second major destination, Serbia (X tons), fivefold. The third position in this ranking was held by Saudi Arabia (X tons), with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Greece totaled +13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-7.6% per year) and Saudi Arabia (+59.0% per year).

In value terms, the largest markets for lip make-up preparations exported from Bulgaria were Greece ($X), Serbia ($X) and the Czech Republic ($X), with a combined 60% share of total exports. Saudi Arabia, Germany, Italy, Spain, Iraq and France lagged somewhat behind, together comprising a further 14%.

Saudi Arabia, with a CAGR of +61.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average lip make-up preparations export price amounted to $X per ton, growing by 4.1% against the previous year. Overall, the export price, however, recorded a slight curtailment. The growth pace was the most rapid in 2016 an increase of 28% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Italy ($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 Serbia (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Lip Make-Up Preparations Imports

Imports into Bulgaria

In 2022, after two years of growth, there was significant decline in purchases abroad of lip make-up preparations, when their volume decreased by -32.3% to X tons. Over the period under review, imports, however, showed strong growth. The pace of growth appeared the most rapid in 2021 when imports increased by 60% against the previous year. As a result, imports reached the peak of X tons, and then declined significantly in the following year.

In value terms, lip make-up preparations imports expanded modestly to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.8% against 2020 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 31% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Croatia (X tons) and France (X tons) were the main suppliers of lip make-up preparations imports to Bulgaria, with a combined 38% share of total imports. Turkey, Poland, Greece, Hungary, the Czech Republic, Germany, Romania, Spain, Italy and Luxembourg lagged somewhat behind, together comprising a further 54%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +100.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the Czech Republic ($X) and Croatia ($X) constituted the largest lip make-up preparations suppliers to Bulgaria, with a combined 43% share of total imports. Turkey, Germany, Romania, Poland, Hungary, Italy, Greece, Spain, China and Luxembourg lagged somewhat behind, together accounting for a further 49%.

In terms of the main suppliers, Spain, with a CAGR of +93.2%, saw the highest growth rate of 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 lip make-up preparations import price amounted to $X per ton, jumping by 54% against the previous year. In general, the import price recorded a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 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 the Czech Republic ($X per ton), while the price for China ($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 (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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