Bulgaria: Refrigerated Show-Cases Market 2024

Refrigerated Show-Cases Market Size in Bulgaria

In 2022, the Bulgarian refrigerated show-cases market increased by 16% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +54.5% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Refrigerated Show-Cases Production in Bulgaria

In value terms, refrigerated show-cases production dropped to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 18%. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Refrigerated Show-Cases Exports

Exports from Bulgaria

In 2022, shipments abroad of refrigerated show-caseses decreased by -1.8% to X units, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by 163% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, refrigerated show-cases exports declined to $X in 2022. In general, exports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2015 when exports increased by 231% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Hungary (X units) was the main destination for refrigerated show-cases exports from Bulgaria, accounting for a 43% share of total exports. Moreover, refrigerated show-cases exports to Hungary exceeded the volume sent to the second major destination, Greece (X units), twofold. The third position in this ranking was taken by Romania (X units), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hungary stood at +205.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+41.5% per year) and Romania (+5.9% per year).

In value terms, Hungary ($X), Greece ($X) and Romania ($X) constituted the largest markets for refrigerated show-cases exported from Bulgaria worldwide, together accounting for 71% of total exports.

In terms of the main countries of destination, Hungary, with a CAGR of +303.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average refrigerated show-cases export price amounted to $X per unit, waning by -7.7% against the previous year. Over the period under review, the export price, however, saw a prominent increase. The most prominent rate of growth was recorded in 2015 an increase of 66%. The export price peaked at $X per unit in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Armenia ($X per unit), while the average price for exports to Malta ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+32.0%), while the prices for the other major destinations experienced more modest paces of growth.

Refrigerated Show-Cases Imports

Imports into Bulgaria

In 2022, supplies from abroad of refrigerated show-caseses increased by 17% to X units, rising for the second consecutive year after two years of decline. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 67%. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, refrigerated show-cases imports expanded rapidly to $X in 2022. In general, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 36% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Turkey (X units), China (X units) and Romania (X units) were the main suppliers of refrigerated show-cases imports to Bulgaria, together comprising 50% of total imports. Austria, Italy, Hungary, Ukraine, Germany and Greece lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +28.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Turkey ($X) and Italy ($X) appeared to be the largest refrigerated show-cases suppliers to Bulgaria, with a combined 48% share of total imports. Romania, Hungary, Germany, Ukraine, China and Greece lagged somewhat behind, together comprising a further 38%.

Among the main suppliers, Ukraine, with a CAGR of +42.8%, 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

In 2022, the average refrigerated show-cases import price amounted to $X per unit, shrinking by -2.7% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 46%. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform