Bulgaria: Processed Meat Market 2024

Processed Meat Market Size in Bulgaria

In 2022, after two years of growth, there was significant decline in the Bulgarian processed meat market, when its value decreased by X% to $X. Overall, consumption saw a drastic downturn. As a result, consumption reached the peak level of $X, and then dropped markedly in the following year.

Processed Meat Production in Bulgaria

In value terms, processed meat production dropped notably to $X in 2022 estimated in export price. Over the period under review, production recorded a deep setback. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X, and then shrank sharply in the following year.

Processed Meat Exports

Exports from Bulgaria

In 2022, after six years of growth, there was decline in overseas shipments of processed meat, when their volume decreased by X% to X tons. Over the period under review, exports, however, recorded a strong increase. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The exports peaked at X tons in 2021, and then dropped in the following year.

In value terms, processed meat exports expanded significantly to $X in 2022. In general, exports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The UK (X tons), Germany (X tons) and Romania (X tons) were the main destinations of processed meat exports from Bulgaria, together accounting for X% of total exports. France, Greece, the Netherlands, Belgium, Serbia, Spain, Ukraine and Cyprus lagged somewhat behind, together comprising a further X%.

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

In value terms, the UK ($X), France ($X) and Germany ($X) appeared to be the largest markets for processed meat exported from Bulgaria worldwide, together accounting for X% of total exports. Belgium, Romania, the Netherlands, Greece, Spain, Ukraine, Cyprus and Serbia lagged somewhat behind, together comprising a further X%.

Ukraine, with a CAGR of X%, recorded the highest growth rate of 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 processed meat export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Serbia ($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 Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Processed Meat Imports

Imports into Bulgaria

In 2022, supplies from abroad of processed meat decreased by X% to X tons for the first time since 2015, thus ending a six-year rising trend. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Imports peaked at X tons in 2021, and then declined slightly in the following year.

In value terms, processed meat imports rose markedly to $X in 2022. Overall, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2015 indices. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), Poland (X tons) and Italy (X tons) were the main suppliers of processed meat imports to Bulgaria, together comprising X% of total imports. Spain, Greece, Romania, Hungary, France, Austria, the Czech Republic and the Netherlands lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest processed meat suppliers to Bulgaria were Germany ($X), Poland ($X) and Italy ($X), together comprising X% of total imports. Spain, Greece, Hungary, Romania, France, Austria, the Czech Republic and the Netherlands lagged somewhat behind, together accounting for a further X%.

Hungary, with a CAGR of X%, recorded 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 2022, the average processed meat import price amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 the Czech Republic ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform