Bulgaria: Soap Market 2024

Soap Market Size in Bulgaria

The Bulgarian soap market shrank markedly to $X in 2021, falling by -24.8% against the previous year. In general, the total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020, and then fell dramatically in the following year.

Soap Production in Bulgaria

In value terms, soap production fell remarkably to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 37% against the previous year. As a result, production reached the peak level of $X, and then declined rapidly in the following year.

Soap Exports

Exports from Bulgaria

In 2021, the amount of soap exported from Bulgaria shrank dramatically to X tons, declining by -37.6% on 2020. Overall, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 62%. As a result, the exports attained the peak of X tons, and then fell significantly in the following year.

In value terms, soap exports declined dramatically to $X in 2021. Over the period under review, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2020 when exports increased by 81% against the previous year. As a result, the exports attained the peak of $X, and then contracted significantly in the following year.

Exports by Country

Romania (X tons), the Netherlands (X tons) and Greece (X tons) were the main destinations of soap exports from Bulgaria, together comprising 56% of total exports. Ukraine, North Macedonia, Armenia, the UK, Georgia, Sweden, Germany, Serbia, Russia and Spain lagged somewhat behind, together comprising a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Sweden (with a CAGR of +123.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soap exported from Bulgaria were Romania ($X), the Netherlands ($X) and Greece ($X), with a combined 39% share of total exports. Ukraine, Russia, Germany, North Macedonia, the UK, Spain, Georgia, Armenia, Serbia and Sweden lagged somewhat behind, together accounting for a further 40%.

Among the main countries of destination, Sweden, with a CAGR of +119.6%, saw the highest rates of growth with regard to 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

The average soap export price stood at $X per ton in 2021, shrinking by -15.5% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 16%. The export price peaked at $X per ton in 2020, and then dropped rapidly in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Russia ($X per ton), while the average price for exports to Sweden ($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 Germany (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Soap Imports

Imports into Bulgaria

In 2021, imports of soap into Bulgaria expanded to X tons, growing by 3.7% on the previous year. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 12% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, soap imports reached $X in 2021. Overall, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.1% 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 +62.5% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 20% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) constituted the largest soap supplier to Bulgaria, accounting for a 39% share of total imports. Moreover, soap imports from Turkey exceeded the figures recorded by the second-largest supplier, Romania (X tons), threefold. Italy (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey stood at +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+6.5% per year) and Italy (+11.4% per year).

In value terms, Turkey ($X), Romania ($X) and Italy ($X) appeared to be the largest soap suppliers to Bulgaria, together comprising 49% of total imports. These countries were followed by Poland, Germany, Austria, Slovakia, Greece, Singapore, Indonesia and Malaysia, which together accounted for a further 33%.

In terms of the main suppliers, Singapore, with a CAGR of +672.9%, saw 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 soap import price stood at $X per ton in 2021, shrinking by -2.1% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 8%. The import price peaked at $X per ton in 2013; afterwards, it flattened through to 2021.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Singapore ($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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