Bulgaria: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Bulgaria

The Bulgarian sauce and seasoning market reduced remarkably to $X in 2021, shrinking by -39.8% against the previous year. In general, consumption saw a noticeable curtailment. Over the period under review, the market reached the maximum level at $X in 2020, and then fell sharply in the following year.

Sauce And Seasoning Production in Bulgaria

In value terms, sauce and seasoning production shrank remarkably to $X in 2021 estimated in export price. Overall, production recorded a deep setback. The pace of growth appeared the most rapid in 2013 when the production volume increased by 16% against the previous year. Sauce and seasoning production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Sauce And Seasoning Exports

Exports from Bulgaria

In 2021, overseas shipments of sauces and seasonings increased by 14% to X tons, rising for the second consecutive year after three years of decline. Overall, exports, however, showed a pronounced descent. The pace of growth appeared the most rapid in 2016 when exports increased by 28% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, sauce and seasoning exports soared to $X in 2021. Over the period under review, total exports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bosnia and Herzegovina (X tons), Germany (X tons) and Russia (X tons) were the main destinations of sauce and seasoning exports from Bulgaria, with a combined 30% share of total exports. Greece, Romania, the UK, Kosovo, North Macedonia, Ukraine, Albania, Italy, the United States and Libya lagged somewhat behind, together comprising a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Libya (with a CAGR of +108.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sauce and seasoning exported from Bulgaria were Greece ($X), Russia ($X) and Germany ($X), together comprising 31% of total exports. The UK, Kosovo, North Macedonia, Romania, Bosnia and Herzegovina, Albania, Ukraine, the United States, Libya and Italy lagged somewhat behind, together accounting for a further 41%.

Libya, with a CAGR of +130.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average sauce and seasoning export price amounted to $X per ton, surging by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.9%. The most prominent rate of growth was recorded in 2018 an increase of 30%. The export price peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kosovo (+26.4%), while the prices for the other major destinations experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports into Bulgaria

For the tenth year in a row, Bulgaria recorded growth in purchases abroad of sauces and seasonings, which increased by 22% to X tons in 2021. Overall, imports recorded a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sauce and seasoning imports soared to $X in 2021. Over the period under review, imports recorded resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons), Greece (X tons) and Germany (X tons) were the main suppliers of sauce and seasoning imports to Bulgaria, with a combined 38% share of total imports. Poland, Italy, Romania, Ukraine, Hungary, the Czech Republic, Austria, Slovakia, Turkey and Lithuania lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +40.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Romania ($X) and Germany ($X) appeared to be the largest sauce and seasoning suppliers to Bulgaria, together accounting for 38% of total imports. These countries were followed by Italy, Poland, Greece, Hungary, Austria, Lithuania, Slovakia, the Czech Republic, Ukraine and Turkey, which together accounted for a further 45%.

Lithuania, with a CAGR of +46.0%, saw the highest rates of growth with regard to the value of imports, among 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 2021, the average sauce and seasoning import price amounted to $X per ton, rising by 9% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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