Bulgaria: Market for Mixed Condiments, Sauses and Seasonings 2024

Market Size for Mixed Condiments, Sauses and Seasonings in Bulgaria

In 2022, the Bulgarian market for mixed condiments, sauses and seasonings increased by 8.2% to $X, rising for the sixth year in a row after two years of decline. The market value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Mixed condiment, sause and seasoning consumption peaked in 2022 and is likely to continue growth in years to come.

Production of Mixed Condiments, Sauses and Seasonings in Bulgaria

In value terms, mixed condiment, sause and seasoning production stood at $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 16%. Mixed condiment, sause and seasoning production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Mixed Condiments, Sauses and Seasonings

Exports from Bulgaria

In 2022, overseas shipments of mixed condiments, sauses and seasonings increased by 15% to X tons, rising for the second consecutive year after three years of decline. In general, total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +86.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 62% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, mixed condiment, sause and seasoning exports surged to $X in 2022. Overall, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +108.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 70%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Greece (X tons), Italy (X tons) and Serbia (X tons) were the main destinations of mixed condiment, sause and seasoning exports from Bulgaria, with a combined 39% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +73.1%), while the other leaders experienced more modest paces of growth.

In value terms, Greece ($X) remains the key foreign market for mixed condiments, sauses and seasonings exports from Bulgaria, comprising 28% of total exports. The second position in the ranking was taken by Serbia ($X), with an 8.7% share of total exports. It was followed by North Macedonia, with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Greece amounted to +22.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-2.3% per year) and North Macedonia (+20.1% per year).

Export Prices by Country

In 2022, the average export price for mixed condiments, sauses and seasonings amounted to $X per ton, growing by 6.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2018 an increase of 57% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

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 Greece ($X per ton), while the average price for exports to Spain ($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 Greece (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mixed Condiments, Sauses and Seasonings

Imports into Bulgaria

For the sixth consecutive year, Bulgaria recorded growth in supplies from abroad of mixed condiments, sauses and seasonings, which increased by 19% to X tons in 2022. Overall, imports recorded prominent growth. The pace of growth was the most pronounced in 2021 when imports increased by 27%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, mixed condiment, sause and seasoning imports skyrocketed to $X in 2022. In general, imports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2021 when imports increased by 38% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), Poland (X tons) and the Netherlands (X tons) were the main suppliers of mixed condiment, sause and seasoning imports to Bulgaria, together comprising 35% of total imports. Romania, Italy, Hungary, Ukraine, Slovakia, Austria, the Czech Republic, Serbia, Slovenia and Greece lagged somewhat behind, together comprising a further 48%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (with a CAGR of +110.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest mixed condiment, sause and seasoning suppliers to Bulgaria were Romania ($X), Germany ($X) and Italy ($X), with a combined 35% share of total imports. The Netherlands, Poland, Hungary, Austria, Slovenia, Serbia, Slovakia, Greece, Ukraine and the Czech Republic lagged somewhat behind, together comprising a further 52%.

Among the main suppliers, Ukraine, with a CAGR of +127.4%, saw the highest rates of growth with regard to 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

The average import price for mixed condiments, sauses and seasonings stood at $X per ton in 2022, with an increase of 4.2% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 11% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :