Bulgaria: Manuka Market 2024

Manuka Market Size in Bulgaria

The Bulgarian manuka market contracted to $X in 2022, dropping by -6.8% against the previous year. In general, consumption enjoyed significant growth. As a result, consumption attained the peak level of $X, and then declined in the following year.

Manuka Production in Bulgaria

In value terms, manuka production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 17%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Manuka Exports

Exports from Bulgaria

In 2022, overseas shipments of manuka were finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 49%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, manuka exports contracted to $X in 2022. The total export value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 49%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Greece (X tons), Germany (X tons) and France (X tons) were the main destinations of manuka exports from Bulgaria, together comprising 78% of total exports. Poland, Italy, Denmark, the Netherlands, Belgium and Austria lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +32.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for manuka exported from Bulgaria were Germany ($X), Greece ($X) and France ($X), with a combined 71% share of total exports. Poland, Denmark, the Netherlands, Italy, Belgium and Austria lagged somewhat behind, together comprising a further 18%.

Among the main countries of destination, Denmark, with a CAGR of +31.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average manuka export price stood at $X per ton in 2022, which is down by -14.3% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 25%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Greece ($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 (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Manuka Imports

Imports into Bulgaria

In 2022, the amount of manuka imported into Bulgaria amounted to X tons, increasing by 15% on 2021 figures. Over the period under review, imports enjoyed significant growth. The growth pace was the most rapid in 2013 when imports increased by 196%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, manuka imports expanded modestly to $X in 2022. In general, imports showed a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 268%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Poland (X tons), Greece (X tons) and Ukraine (X tons) were the main suppliers of manuka imports to Bulgaria, with a combined 72% share of total imports. Turkey, China, Romania, Georgia and Germany lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the biggest increases were recorded for Georgia (with a CAGR of +529.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Greece ($X) and Ukraine ($X) appeared to be the largest manuka suppliers to Bulgaria, with a combined 77% share of total imports. Turkey, Romania, Germany, China and Georgia lagged somewhat behind, together accounting for a further 22%.

Georgia, with a CAGR of +613.7%, recorded the highest growth rate of 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

In 2022, the average manuka import price amounted to $X per ton, waning by -9.5% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 25%. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Georgia (+13.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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