Bulgaria: Footwear Treatments Market 2024

Footwear Treatments Market Size in Bulgaria

In 2022, the Bulgarian footwear treatments market increased by 75% to $X, rising for the fifth year in a row after five years of decline. In general, consumption posted a measured increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Footwear Treatments Production in Bulgaria

In value terms, footwear treatments production reduced notably to $X in 2022 estimated in export price. Overall, production saw a abrupt slump. The growth pace was the most rapid in 2015 with an increase of 124% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Footwear Treatments Exports

Exports from Bulgaria

After eight years of decline, overseas shipments of polishes and creams for footwear or leather increased by 1,282% to X tons in 2022. In general, exports continue to indicate a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, footwear treatments exports soared to $X in 2022. Overall, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons) was the main destination for footwear treatments exports from Bulgaria, accounting for a 95% share of total exports. It was followed by Serbia (X tons), with a 1.2% share of total exports. The third position in this ranking was taken by Russia (X tons), with a 0.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled +90.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-18.4% per year) and Russia (-21.8% per year).

In value terms, Italy ($X) emerged as the key foreign market for polishes and creams for footwear or leather exports from Bulgaria, comprising 95% of total exports. The second position in the ranking was taken by Serbia ($X), with a 1.1% share of total exports. It was followed by Russia, with a 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy amounted to +106.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-15.2% per year) and Russia (-22.7% per year).

Export Prices by Country

The average footwear treatments export price stood at $X per ton in 2022, rising by 36% against the previous year. In general, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, footwear treatments export price increased by +52.6% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Russia ($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 Italy (+8.4%), while the prices for the other major destinations experienced mixed trend patterns.

Footwear Treatments Imports

Imports into Bulgaria

Footwear treatments imports into Bulgaria skyrocketed to X tons in 2022, picking up by 2,184% against the year before. Overall, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, footwear treatments imports surged to $X in 2022. Over the period under review, imports saw a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Italy (X tons) was the main footwear treatments supplier to Bulgaria, accounting for a 96% share of total imports. It was followed by Turkey (X tons), with a 0.7% share of total imports. Austria (X tons) ranked third in terms of total imports with a 0.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy amounted to +66.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-12.0% per year) and Austria (-10.7% per year).

In value terms, Italy ($X) constituted the largest supplier of polishes and creams for footwear or leather to Bulgaria, comprising 97% of total imports. The second position in the ranking was taken by Turkey ($X), with a 0.4% share of total imports. It was followed by Romania, with a 0.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy amounted to +67.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-9.9% per year) and Romania (-19.3% per year).

Import Prices by Country

In 2022, the average footwear treatments import price amounted to $X per ton, growing by 44% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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