Bulgaria: Market for Soap In Different Forms 2024

Market Size for Soap In Different Forms in Bulgaria

The Bulgarian soap in different forms market expanded slightly to $X in 2021, rising by 2.2% against the previous year. In general, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +24.8% against 2019 indices. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Soap In Different Forms in Bulgaria

In value terms, soap in different forms production fell significantly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +31.2% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 61% against the previous year. As a result, production reached the peak level of $X, and then dropped notably in the following year.

Exports of Soap In Different Forms

Exports from Bulgaria

In 2021, after two years of growth, there was significant decline in shipments abroad of soap in different forms, when their volume decreased by -53.8% to X tons. Over the period under review, exports showed a deep contraction. The pace of growth was the most pronounced in 2020 when exports increased by 77% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, soap in different forms exports fell rapidly to $X in 2021. In general, exports, however, showed a pronounced expansion. The most prominent rate of growth was recorded in 2020 with an increase of 143% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X tons), Germany (X tons) and Romania (X tons) were the main destinations of soap in different forms exports from Bulgaria, together comprising 52% of total exports. The UK, Norway, Turkey, Austria, North Macedonia, Greece, Morocco, Italy, the Netherlands and Moldova lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +203.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soap in different forms exported from Bulgaria were Germany ($X), Austria ($X) and the UK ($X), with a combined 57% share of total exports.

Austria, with a CAGR of +289.7%, recorded 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 soap in different forms export price stood at $X per ton in 2021, jumping by 54% against the previous year. Over the period under review, the export price showed a remarkable increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Turkey ($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 Austria (+28.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Soap In Different Forms

Imports into Bulgaria

In 2021, after two years of decline, there was significant growth in purchases abroad of soap in different forms, when their volume increased by 16% to X tons. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 36% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, soap in different forms imports surged to $X in 2021. Overall, total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +27.7% against 2019 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 52% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Singapore (X tons), Turkey (X tons) and Indonesia (X tons) were the main suppliers of soap in different forms imports to Bulgaria, together comprising 57% of total imports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +406.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Germany ($X) and Turkey ($X) were the largest soap in different forms suppliers to Bulgaria, together comprising 42% of total imports.

Singapore, with a CAGR of +672.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average soap in different forms import price stood at $X per ton in 2021, increasing by 8.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2016 when the average import price increased by 40% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+52.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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