Bulgaria: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in Bulgaria

For the third consecutive year, the Bulgarian food manufacture machinery market recorded growth in sales value, which increased by 19% to $X in 2021. Overall, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +18.9% against 2017 indices. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in years to come.

Food Manufacture Machinery Production in Bulgaria

In value terms, food manufacture machinery production skyrocketed to $X in 2021 estimated in export price. Overall, the total production indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +38.1% against 2019 indices. The growth pace was the most rapid in 2013 when the production volume increased by 34% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Food Manufacture Machinery Exports

Exports from Bulgaria

In 2021, approx. X units of machinery for the preparation or manufacture of food or drink were exported from Bulgaria; picking up by 48% on the year before. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 128% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, food manufacture machinery exports expanded sharply to $X in 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 112%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Russia (X units), Ukraine (X units) and Kazakhstan (X units) were the main destinations of food manufacture machinery exports from Bulgaria, together comprising 67% of total exports. Greece, Israel, Armenia, Georgia, Moldova and Poland lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the biggest increases were recorded for Greece (with a CAGR of +77.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Ukraine ($X) and Kazakhstan ($X) appeared to be the largest markets for food manufacture machinery exported from Bulgaria worldwide, with a combined 56% share of total exports. These countries were followed by Israel, Greece, Armenia, Georgia, Moldova and Poland, which together accounted for a further 37%.

Greece, with a CAGR of +93.1%, saw 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 2021, the average food manufacture machinery export price amounted to $X per unit, waning by -28.5% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by 43% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2020, and then reduced sharply in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Israel ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.

Food Manufacture Machinery Imports

Imports into Bulgaria

In 2021, after three years of decline, there was significant growth in overseas purchases of machinery for the preparation or manufacture of food or drink, when their volume increased by 59% to X units. Overall, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2017 when imports increased by 145% against the previous year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, food manufacture machinery imports surged to $X in 2021. Over the period under review, imports posted a buoyant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 153% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X units) constituted the largest supplier of food manufacture machinery to Bulgaria, accounting for a 36% share of total imports. Moreover, food manufacture machinery imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. The third position in this ranking was taken by the Netherlands (X units), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +34.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+6.8% per year) and the Netherlands (+82.6% per year).

In value terms, Germany ($X) constituted the largest supplier of machinery for the preparation or manufacture of food or drink to Bulgaria, comprising 40% of total imports. The second position in the ranking was held by Italy ($X), with an 18% share of total imports. It was followed by Belgium, with a 17% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +28.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+4.1% per year) and Belgium (+8.4% per year).

Import Prices by Country

In 2021, the average food manufacture machinery import price amounted to $X per unit, growing by 16% against the previous year. Over the period under review, the import price, however, recorded a slight decline. The most prominent rate of growth was recorded in 2018 an increase of 68% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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