Bulgaria: Sparkling Wine Market 2024

Sparkling Wine Market Size in Bulgaria

The Bulgarian sparkling wine market rose rapidly to $X in 2022, with an increase of 9.9% against the previous year. Over the period under review, consumption, however, recorded a noticeable decline. Sparkling wine consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Sparkling Wine Production in Bulgaria

In value terms, sparkling wine production rose markedly to $X in 2022 estimated in export price. Over the period under review, production saw a perceptible setback. The most prominent rate of growth was recorded in 2020 when the production volume increased by 24%. Sparkling wine production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Sparkling Wine Exports

Exports from Bulgaria

In 2022, shipments abroad of sparkling wine decreased by -59.3% to X litres, falling for the second consecutive year after two years of growth. In general, exports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 161% against the previous year. As a result, the exports attained the peak of X litres. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, sparkling wine exports declined markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 138%. Over the period under review, the exports hit record highs at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

Italy (X litres) was the main destination for sparkling wine exports from Bulgaria, accounting for a 73% share of total exports. Moreover, sparkling wine exports to Italy exceeded the volume sent to the second major destination, Slovenia (X litres), more than tenfold. Mongolia (X litres) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2022, the average annual growth rate of volume to Italy totaled +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+103.2% per year) and Mongolia (+14.2% per year).

In value terms, Italy ($X) remains the key foreign market for sparkling wine exports from Bulgaria, comprising 53% of total exports. The second position in the ranking was held by Slovenia ($X), with a 24% share of total exports. It was followed by Mongolia, with a 1.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy stood at +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+124.8% per year) and Mongolia (+19.3% per year).

Export Prices by Country

In 2022, the average sparkling wine export price amounted to $X per litre, waning by -3.1% against the previous year. In general, the export price, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2014 when the average export price increased by 125% against the previous year. The export price peaked at $X per litre in 2021, and then contracted modestly in the following year.

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 Slovenia ($X per litre), while the average price for exports to Poland ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+93.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sparkling Wine Imports

Imports into Bulgaria

In 2022, the amount of sparkling wine imported into Bulgaria soared to X litres, with an increase of 26% against 2021 figures. Overall, imports showed a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 53%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, sparkling wine imports rose markedly to $X in 2022. Over the period under review, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 55%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Italy (X litres) constituted the largest supplier of sparkling wine to Bulgaria, accounting for a 64% share of total imports. Moreover, sparkling wine imports from Italy exceeded the figures recorded by the second-largest supplier, France (X litres), fivefold. The third position in this ranking was held by Germany (X litres), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy amounted to +26.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+8.6% per year) and Germany (+11.9% per year).

In value terms, the largest sparkling wine suppliers to Bulgaria were Italy ($X), France ($X) and Germany ($X), together comprising 91% of total imports. Spain and Lithuania lagged somewhat behind, together comprising a further 5.6%.

Among the main suppliers, Lithuania, with a CAGR of +64.7%, recorded the highest growth rate of 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

In 2022, the average sparkling wine import price amounted to $X per litre, with a decrease of -10.9% against the previous year. Overall, the import price saw a noticeable descent. The growth pace was the most rapid in 2013 when the average import price increased by 18%. The import price peaked at $X per litre in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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