Bulgaria: Market for Sweet Biscuits, Waffles and Wafers 2024

Market Size for Sweet Biscuits, Waffles and Wafers in Bulgaria

The Bulgarian market for sweet biscuits, waffles and wafers soared to $X in 2021, growing by 15% against the previous year. Over the period under review, consumption, however, showed a mild reduction. Sweet biscuit, waffle and wafer consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Sweet Biscuits, Waffles and Wafers in Bulgaria

In value terms, sweet biscuit, waffle and wafer production expanded to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 3.6% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Sweet Biscuits, Waffles and Wafers

Exports from Bulgaria

After three years of decline, overseas shipments of sweet biscuits, waffles and wafers increased by 3.7% to X tons in 2021. The total export volume increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 27%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, sweet biscuit, waffle and wafer exports expanded remarkably to $X in 2021. The total export value increased at an average annual rate of +5.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 15% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

The UK (X tons), Germany (X tons) and Poland (X tons) were the main destinations of sweet biscuit, waffle and wafer exports from Bulgaria, with a combined 32% share of total exports. Russia, Greece, Turkey, Libya, Romania, France, the Netherlands, Ukraine, Hungary and Yemen lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +51.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sweet biscuit, waffle and wafer exported from Bulgaria were Germany ($X), the UK ($X) and Poland ($X), with a combined 35% share of total exports. These countries were followed by Russia, France, the Netherlands, Greece, Libya, Romania, Ukraine, Turkey, Hungary and Yemen, which together accounted for a further 36%.

Russia, with a CAGR of +47.1%, saw the highest growth rate of the value of exports, in terms of 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

In 2021, the average export price for sweet biscuits, waffles and wafers amounted to $X per ton, growing by 8.4% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by 10%. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Turkey ($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 Romania (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Sweet Biscuits, Waffles and Wafers

Imports into Bulgaria

For the seventh year in a row, Bulgaria recorded growth in overseas purchases of sweet biscuits, waffles and wafers, which increased by 12% to X tons in 2021. Over the period under review, imports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2016 when imports increased by 15% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, sweet biscuit, waffle and wafer imports surged to $X in 2021. Overall, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 24%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, Poland (X tons) constituted the largest supplier of sweet biscuit, waffle and wafer to Bulgaria, accounting for a 22% share of total imports. Moreover, sweet biscuit, waffle and wafer imports from Poland exceeded the figures recorded by the second-largest supplier, Romania (X tons), twofold. The third position in this ranking was held by the Czech Republic (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Poland amounted to +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+2.8% per year) and the Czech Republic (+14.6% per year).

In value terms, Poland ($X) constituted the largest supplier of sweet biscuits, waffles and wafers to Bulgaria, comprising 27% of total imports. The second position in the ranking was taken by Romania ($X), with a 10% share of total imports. It was followed by Italy, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Poland totaled +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+5.0% per year) and Italy (+17.4% per year).

Import Prices by Country

The average import price for sweet biscuits, waffles and wafers stood at $X per ton in 2021, increasing by 4.5% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2018 an increase of 9.9% against the previous year. The import price peaked in 2021 and is likely to see gradual growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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