Bulgaria: Plastic Box Market 2024

Plastic Box Market Size in Bulgaria

The Bulgarian plastic box market shrank to $X in 2022, falling by -6.3% against the previous year. Overall, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +55.0% against 2020 indices. Plastic box consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Plastic Box Production in Bulgaria

In value terms, plastic box production dropped to $X in 2022 estimated in export price. Overall, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +19.1% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 32% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Plastic Box Exports

Exports from Bulgaria

In 2022, overseas shipments of plastic boxes, cases, crates and similar packing articles increased by 0.7% to X tons, rising for the second consecutive year after two years of decline. In general, exports saw strong growth. The pace of growth appeared the most rapid in 2013 with an increase of 59% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, plastic box exports reduced to $X in 2022. Overall, exports posted a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 75%. The exports peaked at $X in 2021, and then contracted slightly in the following year.

Exports by Country

Turkey (X tons), Romania (X tons) and Serbia (X tons) were the main destinations of plastic box exports from Bulgaria, with a combined 60% share of total exports. Greece, the Netherlands, North Macedonia, Germany and Italy lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +160.5%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X) remains the key foreign market for plastic boxes, cases, crates and similar packing articles exports from Bulgaria, comprising 27% of total exports. The second position in the ranking was taken by Greece ($X), with a 13% share of total exports. It was followed by Serbia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Romania amounted to +23.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+6.7% per year) and Serbia (+20.9% per year).

Export Prices by Country

The average plastic box export price stood at $X per ton in 2022, flattening at the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2021 an increase of 21%. As a result, the export price reached the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Turkey ($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 Turkey (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Box Imports

Imports into Bulgaria

In 2022, purchases abroad of plastic boxes, cases, crates and similar packing articles decreased by -29% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2014 when imports increased by 127% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced markedly in the following year.

In value terms, plastic box imports rose to $X in 2022. Over the period under review, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2014 with an increase of 34%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of plastic box to Bulgaria, with a 38% share of total imports. Moreover, plastic box imports from Turkey exceeded the figures recorded by the second-largest supplier, Greece (X tons), threefold. The third position in this ranking was taken by Hungary (X tons), with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (+14.0% per year) and Hungary (+13.9% per year).

In value terms, Turkey ($X) constituted the largest supplier of plastic boxes, cases, crates and similar packing articles to Bulgaria, comprising 31% of total imports. The second position in the ranking was held by Hungary ($X), with an 11% share of total imports. It was followed by Greece, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+13.4% per year) and Greece (+8.0% per year).

Import Prices by Country

In 2022, the average plastic box import price amounted to $X per ton, increasing by 45% against the previous year. Overall, the import price, however, continues to indicate a mild slump. The most prominent rate of growth was recorded in 2015 when the average import price increased by 65%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Poland ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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