Bulgaria: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Bulgaria

In 2022, the Bulgarian prepared baking powder market increased by 4.6% to $X, rising for the third year in a row after two years of decline. Overall, consumption continues to indicate a mild decrease. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Prepared Baking Powder Production in Bulgaria

In value terms, prepared baking powder production rose sharply to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 28%. Prepared baking powder production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Prepared Baking Powder Exports

Exports from Bulgaria

In 2022, shipments abroad of prepared baking powders increased by 2,306% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, prepared baking powder exports soared to $X in 2022. Overall, exports saw a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ukraine (X tons) was the main destination for prepared baking powder exports from Bulgaria, with a 87% share of total exports. Moreover, prepared baking powder exports to Ukraine exceeded the volume sent to the second major destination, Germany (X tons), more than tenfold. The third position in this ranking was held by Albania (X tons), with a 1.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ukraine was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+82.9% per year) and Albania (-14.1% per year).

In value terms, Ukraine ($X) emerged as the key foreign market for prepared baking powders exports from Bulgaria, comprising 69% of total exports. The second position in the ranking was held by Germany ($X), with a 6.9% share of total exports. It was followed by North Macedonia, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ukraine was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+65.2% per year) and North Macedonia (+4.9% per year).

Export Prices by Country

The average prepared baking powder export price stood at $X per ton in 2022, shrinking by -71.4% against the previous year. In general, the export price showed a drastic downturn. The pace of growth appeared the most rapid in 2016 when the average export price increased by 57%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 North Macedonia ($X per ton), while the average price for exports to Ukraine ($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 Albania (+19.9%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Baking Powder Imports

Imports into Bulgaria

Prepared baking powder imports into Bulgaria soared to X tons in 2022, picking up by 16% against the previous year. Over the period under review, imports, however, faced a abrupt descent. The growth pace was the most rapid in 2015 with an increase of 120% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, prepared baking powder imports surged to $X in 2022. In general, imports, however, continue to indicate a mild curtailment. The pace of growth was the most pronounced in 2015 with an increase of 41% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Romania (X tons), Greece (X tons) and Sweden (X tons) were the main suppliers of prepared baking powder imports to Bulgaria, together comprising 66% of total imports. Germany, the Czech Republic, Turkey and Austria lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +48.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Sweden ($X) and Greece ($X) constituted the largest prepared baking powder suppliers to Bulgaria, with a combined 66% share of total imports. The Czech Republic, Germany, Turkey and Austria lagged somewhat behind, together accounting for a further 30%.

In terms of the main suppliers, the Czech Republic, with a CAGR of +63.4%, 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

In 2022, the average prepared baking powder import price amounted to $X per ton, picking up by 7.1% against the previous year. In general, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +11.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, prepared baking powder import price increased by +45.4% against 2015 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by 149%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Sweden ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :