Report Update Nov 1, 2024

Bulgaria - Provitamins and Vitamins - Market Analysis, Forecast, Size, Trends and Insights

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Bulgaria: Vitamin Market 2024

Vitamin Market Size in Bulgaria

The Bulgarian vitamin market soared to $X in 2021, surging by 17% against the previous year. Overall, consumption posted a resilient increase. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Vitamin Production in Bulgaria

In value terms, vitamin production soared to $X in 2021 estimated in export price. In general, production, however, recorded a strong increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by 62%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Vitamin Exports

Exports from Bulgaria

For the third year in a row, Bulgaria recorded growth in overseas shipments of provitamins and vitamins, which increased by 66% to X tons in 2021. Over the period under review, exports posted significant growth. The growth pace was the most rapid in 2016 with an increase of 202% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, vitamin exports skyrocketed to $X in 2021. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 288%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Greece (X tons), Italy (X tons) and Mexico (X tons) were the main destinations of vitamin exports from Bulgaria, together comprising 71% of total exports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +1,312.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Greece ($X) and Romania ($X) constituted the largest markets for vitamin exported from Bulgaria worldwide, with a combined 47% share of total exports.

Italy, with a CAGR of +2,963.0%, 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

The average vitamin export price stood at $X per ton in 2021, jumping by 19% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 219% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Mexico ($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 Italy (+116.8%), while the prices for the other major destinations experienced mixed trend patterns.

Vitamin Imports

Imports into Bulgaria

In 2021, overseas purchases of provitamins and vitamins increased by 39% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports posted a prominent increase. The pace of growth appeared the most rapid in 2014 when imports increased by 64% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, vitamin imports rose notably to $X in 2021. Overall, imports saw a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 75%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), China (X tons) and the Netherlands (X tons) were the main suppliers of vitamin imports to Bulgaria, with a combined 76% share of total imports. Poland, Austria and Belgium lagged somewhat behind, together comprising a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +30.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vitamin suppliers to Bulgaria were Germany ($X), the Netherlands ($X) and China ($X), together accounting for 75% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +18.2%, recorded the highest growth rate of 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 vitamin import price stood at $X per ton in 2021, shrinking by -19.3% against the previous year. Overall, the import price recorded a perceptible reduction. The pace of growth was the most pronounced in 2018 when the average import price increased by 50%. The import price peaked at $X per ton in 2012; however, from 2013 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 the Netherlands ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for provitamins and vitamins in the world?

The countries with the highest volumes of vitamin consumption in 2020 were India, China and the United States, with a combined 53% share of global consumption. Canada, Germany, Japan, the UK, Italy and France lagged somewhat behind, together comprising a further 21%.

What are the largest producers of provitamins and vitamins in the world?

The countries with the highest volumes of vitamin production in 2020 were China, India and Canada, together accounting for 77% of global production. Germany, Japan, Switzerland, the UK, Italy and France lagged somewhat behind, together comprising a further 14%.

What are the leading suppliers of provitamins and vitamins to Bulgaria?

In value terms, the Netherlands, China and Germany appeared to be the largest vitamin suppliers to Bulgaria, with a combined 51% share of total imports. These countries were followed by Poland, France, Greece and Croatia, which together accounted for a further 13%.

What are the leading importers of provitamins and vitamins from Bulgaria?

In value terms, the largest markets for vitamin exported from Bulgaria were Greece, Italy and Romania, together accounting for 42% of total exports. These countries were followed by Kazakhstan, Jordan, Iran, Iraq, Cyprus, North Macedonia, the UK and the Czech Republic, which together accounted for a further 44%.

What is the average export price for provitamins and vitamins in Bulgaria?

The average vitamin export price stood at $9,679 per ton in 2020, growing by 27% against the previous year.

What is the average import price for provitamins and vitamins in Bulgaria?

In 2020, the average vitamin import price amounted to $9,523 per ton, jumping by 33% against the previous year.

This report provides an in-depth analysis of the vitamin market in Bulgaria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 21105100 - Provitamins and vitamins, natural or reproduced by synthesis (including natural concentrates), derivatives thereof used primarily as vitamins, and intermixtures of the foregoing, w hether or not in any solvent

Country coverage:

Bulgaria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Bulgaria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023