Report Update Nov 1, 2024

Bulgaria - Lucerne (Alfalfa) Meal and Pellets - Market Analysis, Forecast, Size, Trends and Insights

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Bulgaria: Market for Lucerne (Alfalfa) Meal And Pellets 2024

Market Size for Lucerne (Alfalfa) Meal And Pellets in Bulgaria

In 2021, after three years of growth, there was significant decline in the Bulgarian lucerne meal and pellets market, when its value decreased by -34.5% to $X. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then reduced dramatically in the following year.

Production of Lucerne (Alfalfa) Meal And Pellets in Bulgaria

In value terms, lucerne meal and pellets production contracted dramatically to $X in 2021 estimated in export price. Over the period under review, production saw a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 105%. Over the period under review, production attained the peak level at $X in 2020, and then contracted rapidly in the following year.

Exports of Lucerne (Alfalfa) Meal And Pellets

Exports from Bulgaria

In 2021, exports of lucerne (alfalfa) meal and pellets from Bulgaria surged to X tons, increasing by 189% on 2020. In general, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lucerne meal and pellets exports soared to $X in 2021. Over the period under review, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Greece (X tons) was the main destination for lucerne meal and pellets exports from Bulgaria, accounting for a 85% share of total exports. Moreover, lucerne meal and pellets exports to Greece exceeded the volume sent to the second major destination, Cyprus (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to Greece totaled +28.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+172.3% per year) and Germany (+104.1% per year).

In value terms, Greece ($X) remains the key foreign market for lucerne (alfalfa) meal and pellets exports from Bulgaria, comprising 84% of total exports. The second position in the ranking was held by Cyprus ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Greece totaled +28.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+178.4% per year) and Germany (+113.0% per year).

Export Prices by Country

In 2021, the average lucerne meal and pellets export price amounted to $X per ton, jumping by 16% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 17% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Cyprus ($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 (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lucerne (Alfalfa) Meal And Pellets

Imports into Bulgaria

In 2021, overseas purchases of lucerne (alfalfa) meal and pellets increased by 709% to X tons, rising for the second year in a row after two years of decline. Overall, imports recorded significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lucerne meal and pellets imports surged to $X in 2021. Over the period under review, imports saw a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Romania (X tons) was the main lucerne meal and pellets supplier to Bulgaria, with a approx. 99.9% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Romania amounted to +53.1%.

In value terms, Romania ($X) constituted the largest supplier of lucerne (alfalfa) meal and pellets to Bulgaria.

From 2012 to 2021, the average annual rate of growth in terms of value from Romania amounted to +36.4%.

Import Prices by Country

In 2021, the average lucerne meal and pellets import price amounted to $X per ton, which is down by -8.4% against the previous year. Over the period under review, the import price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the average import price increased by 55%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Romania.

From 2012 to 2021, the rate of growth in terms of prices for Hungary amounted to -8.4% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for lucerne (alfalfa) meal and pellets in the world?

The country with the largest volume of lucerne meal and pellets consumption was China, comprising approx. 17% of total volume. Moreover, lucerne meal and pellets consumption in China exceeded the figures recorded by the second-largest consumer, India, twofold. The United States ranked third in terms of total consumption with a 5.7% share.

What are the largest producers of lucerne (alfalfa) meal and pellets in the world?

China constituted the country with the largest volume of lucerne meal and pellets production, accounting for 16% of total volume. Moreover, lucerne meal and pellets production in China exceeded the figures recorded by the second-largest producer, India, twofold. The United States ranked third in terms of total production with a 6.6% share.

What are the leading suppliers of lucerne (alfalfa) meal and pellets to Bulgaria?

In value terms, Romania constituted the largest supplier of lucerne meal and pellets to Bulgaria.

What are the leading importers of lucerne (alfalfa) meal and pellets from Bulgaria?

In value terms, Greece remains the key foreign market for lucerne meal and pellets exports from Bulgaria, comprising 84% of total exports. The second position in the ranking was occupied by Cyprus, with a 12% share of total exports.

What is the average export price for lucerne (alfalfa) meal and pellets in Bulgaria?

The average lucerne meal and pellets export price stood at $243 per ton in 2021, growing by 16% against the previous year.

What is the average import price for lucerne (alfalfa) meal and pellets in Bulgaria?

The average lucerne meal and pellets import price stood at $123 per ton in 2021, falling by -8.4% against the previous year.

This report provides an in-depth analysis of the market for lucerne meal and pellets in Bulgaria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10912000 - Lucerne (alfalfa) meal and pellets

Country coverage:

Bulgaria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Bulgaria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023