Bulgaria: Smoked Salmon Market 2024

Smoked Salmon Market Size in Bulgaria

The Bulgarian smoked salmon market contracted slightly to $X in 2022, leveling off at the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Smoked Salmon Production in Bulgaria

In value terms, smoked salmon production shrank modestly to $X in 2022 estimated in export price. In general, production, however, saw a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when the production volume increased by 6.8% against the previous year. Smoked salmon production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Smoked Salmon Exports

Exports from Bulgaria

In 2022, overseas shipments of smoked pacific, atlantic and danube salmon increased by 97% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 647% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, smoked salmon exports skyrocketed to $X in 2022. In general, exports posted a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 707%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Greece (X tons), Romania (X tons) and the Netherlands (X tons) were the main destinations of smoked salmon exports from Bulgaria, together accounting for 95% of total exports.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +134.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Romania ($X) and the Netherlands ($X) appeared to be the largest markets for smoked salmon exported from Bulgaria worldwide, together comprising 95% of total exports.

Greece, with a CAGR of +129.1%, 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 smoked salmon export price stood at $X per ton in 2022, with an increase of 20% against the previous year. In general, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, smoked salmon export price increased by +37.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 21%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Greece ($X per ton) and Belgium ($X per ton), while the average price for exports to Sweden ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Smoked Salmon Imports

Imports into Bulgaria

In 2022, purchases abroad of smoked pacific, atlantic and danube salmon increased by 13% to X tons, rising for the third year in a row after two years of decline. In general, imports saw a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 85% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, smoked salmon imports stood at $X in 2022. Overall, imports recorded a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 103%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Romania (X tons) constituted the largest smoked salmon supplier to Bulgaria, accounting for a 49% share of total imports. Moreover, smoked salmon imports from Romania exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Romania amounted to +62.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+41.9% per year) and Germany (+38.9% per year).

In value terms, Romania ($X), Germany ($X) and Lithuania ($X) constituted the largest smoked salmon suppliers to Bulgaria, with a combined 91% share of total imports.

Among the main suppliers, Romania, with a CAGR of +56.6%, recorded 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

The average smoked salmon import price stood at $X per ton in 2022, which is down by -10.7% against the previous year. Over the period under review, the import price saw a perceptible downturn. The growth pace was the most rapid in 2017 an increase of 14% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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