Bulgaria: Soft Drink Market 2024

Soft Drink Market Size in Bulgaria

For the fourth year in a row, the Bulgarian soft drink market recorded growth in sales value, which increased by 21% to $X in 2021. The market value increased at an average annual rate of +3.8% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Soft Drink Production in Bulgaria

In value terms, soft drink production fell remarkably to $X in 2021 estimated in export price. Over the period under review, production faced a precipitous curtailment. The growth pace was the most rapid in 2018 when the production volume increased by 13%. Soft drink production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Soft Drink Exports

Exports from Bulgaria

In 2021, overseas shipments of soft drinks decreased by -43.3% to X litres for the first time since 2016, thus ending a four-year rising trend. In general, exports, however, continue to indicate prominent growth. The growth pace was the most rapid in 2019 with an increase of 169%. The exports peaked at X litres in 2020, and then reduced rapidly in the following year.

In value terms, soft drink exports contracted markedly to $X in 2021. Over the period under review, exports, however, posted a prominent increase. The pace of growth was the most pronounced in 2019 when exports increased by 142% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then contracted markedly in the following year.

Exports by Country

Greece (X litres), Romania (X litres) and Italy (X litres) were the main destinations of soft drink exports from Bulgaria, together comprising 63% of total exports. These countries were followed by Kosovo, Cyprus, Germany, the UK, Poland and France, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were in Germany (with a CAGR of +47.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soft drink exported from Bulgaria were Italy ($X), Greece ($X) and Romania ($X), with a combined 72% share of total exports.

In terms of the main countries of destination, Italy, with a CAGR of +58.4%, 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

The average soft drink export price stood at $X per litre in 2021, picking up by 2.4% against the previous year. In general, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soft drink export price decreased by -30.1% against 2018 indices. The pace of growth appeared the most rapid in 2017 when the average export price increased by 26%. The export price peaked at $X per litre in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per litre), while the average price for exports to Kosovo ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Soft Drink Imports

Imports into Bulgaria

In 2021, approx. X litres of soft drinks were imported into Bulgaria; with an increase of 11% on the previous year's figure. In general, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 52% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, soft drink imports dropped modestly to $X in 2021. Overall, imports saw strong growth. The most prominent rate of growth was recorded in 2019 with an increase of 34%. Imports peaked at $X in 2020, and then declined in the following year.

Imports by Country

In 2021, Romania (X litres) constituted the largest soft drink supplier to Bulgaria, accounting for a 30% share of total imports. Moreover, soft drink imports from Romania exceeded the figures recorded by the second-largest supplier, Ukraine (X litres), twofold. The third position in this ranking was taken by Hungary (X litres), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Romania stood at +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+139.8% per year) and Hungary (+42.1% per year).

In value terms, Romania ($X), Hungary ($X) and Italy ($X) appeared to be the largest soft drink suppliers to Bulgaria, together accounting for 45% of total imports. Serbia, Ukraine, Poland, Turkey and Greece lagged somewhat behind, together accounting for a further 29%.

In terms of the main suppliers, Ukraine, with a CAGR of +121.6%, 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 soft drink import price stood at $X per litre in 2021, reducing by -14.4% against the previous year. In general, the import price saw a abrupt contraction. The most prominent rate of growth was recorded in 2013 an increase of 4.8% against the previous year. As a result, import price reached the peak level of $X per litre. From 2014 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Greece ($X per litre), while the price for Turkey ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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