Bulgaria: Market for Malt Extract And Food Preparations Of Flour, Meal, And Starch 2024

Market Size for Malt Extract And Food Preparations Of Flour, Meal, And Starch in Bulgaria

The Bulgarian market for malt extract and food preparations of flour, meal, and starches stood at $X in 2022, increasing by 4.2% against the previous year. The market value increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in the immediate term.

Production of Malt Extract And Food Preparations Of Flour, Meal, And Starch in Bulgaria

In value terms, production of malt extract and food preparations of flour, meal, and starches shrank to $X in 2022 estimated in export price. In general, production, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 36% against the previous year. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Exports from Bulgaria

Exports of malt extract and food preparations of flour, meal, and starches from Bulgaria fell remarkably to X tons in 2022, which is down by -30.3% on the previous year. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 223%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of malt extract and food preparations of flour, meal, and starches totaled $X in 2022. Over the period under review, exports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 88% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Greece (X tons) was the main destination for exports of malt extract and food preparations of flour, meal, and starches from Bulgaria, accounting for a 73% share of total exports. Moreover, exports of malt extract and food preparations of flour, meal, and starches to Greece exceeded the volume sent to the second major destination, Romania (X tons), sevenfold. Turkey (X tons) ranked third in terms of total exports with a 6.1% share.

From 2012 to 2022, the average annual growth rate of volume to Greece stood at +51.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+28.9% per year) and Turkey (+73.7% per year).

In value terms, Greece ($X) remains the key foreign market for malt extract and food preparations of flour, meal, and starches exports from Bulgaria, comprising 39% of total exports. The second position in the ranking was taken by Turkey ($X), with a 19% share of total exports. It was followed by Romania, with an 18% share.

From 2012 to 2022, the average annual growth rate of value to Greece amounted to +24.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+71.8% per year) and Romania (+26.2% per year).

Export Prices by Country

The average export price for malt extract and food preparations of flour, meal, and starches stood at $X per ton in 2022, with an increase of 56% against the previous year. Over the period under review, the export price, however, recorded a abrupt decrease. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Greece ($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 Belgium (+2.0%), while the prices for the other major destinations experienced a decline.

Imports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Imports into Bulgaria

In 2022, after seven years of growth, there was significant decline in purchases abroad of malt extract and food preparations of flour, meal, and starches, when their volume decreased by -5.5% to X tons. In general, imports, however, posted resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by 27%. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, imports of malt extract and food preparations of flour, meal, and starches contracted to $X in 2022. Overall, imports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 59% against the previous year. Over the period under review, imports of attained the maximum at $X in 2021, and then dropped slightly in the following year.

Imports by Country

Germany (X tons), Romania (X tons) and Poland (X tons) were the main suppliers of imports of malt extract and food preparations of flour, meal, and starches to Bulgaria, together accounting for 74% of total imports. France, Greece, the Netherlands, Serbia and Italy lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Serbia (with a CAGR of +99.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Romania ($X) and Poland ($X) constituted the largest malt extract and food preparations of flour, meal, and starch suppliers to Bulgaria, together accounting for 67% of total imports. France, the Netherlands, Greece, Italy and Serbia lagged somewhat behind, together accounting for a further 24%.

Serbia, with a CAGR of +96.5%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 import price for malt extract and food preparations of flour, meal, and starches stood at $X per ton in 2022, growing by 3.8% against the previous year. Overall, the import price, however, continues to indicate a mild downturn. The pace of growth appeared the most rapid in 2013 an increase of 27% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+1.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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