Bulgaria: Sugary Soft Drink Market 2024

Sugary Soft Drink Market Size in Bulgaria

The Bulgarian sugary soft drink market fell slightly to $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, leveling off in the following year.

Sugary Soft Drink Production in Bulgaria

In value terms, sugary soft drink production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a slight decrease. The most prominent rate of growth was recorded in 2018 when the production volume increased by 13%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Sugary Soft Drink Exports

Exports from Bulgaria

In 2022, overseas shipments of sugary soft drinks decreased by -28.5% to X litres, falling for the third year in a row after five years of growth. Over the period under review, exports, however, saw a moderate expansion. The pace of growth was the most pronounced in 2019 when exports increased by 179% against the previous year. As a result, the exports attained the peak of X litres. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, sugary soft drink exports declined markedly to $X in 2022. Overall, exports, however, posted a resilient expansion. The growth pace was the most rapid in 2019 when exports increased by 122% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Greece (X litres), Romania (X litres) and Cyprus (X litres) were the main destinations of sugary soft drink exports from Bulgaria, with a combined 58% share of total exports. Poland, Serbia, Italy, Belgium and Germany lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of +77.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X) remains the key foreign market for sugary soft drinks exports from Bulgaria, comprising 33% of total exports. The second position in the ranking was held by Romania ($X), with a 12% share of total exports. It was followed by Italy, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value to Greece amounted to +3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+6.8% per year) and Italy (+91.4% per year).

Export Prices by Country

In 2022, the average sugary soft drink export price amounted to $X per litre, with an increase of 2% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sugary soft drink export price increased by +50.8% against 2019 indices. The pace of growth appeared the most rapid in 2013 an increase of 34% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per litre), while the average price for exports to Serbia ($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 Italy (+14.8%), while the prices for the other major destinations experienced more modest paces of growth.

Sugary Soft Drink Imports

Imports into Bulgaria

In 2022, sugary soft drink imports into Bulgaria shrank to X litres, waning by -7% compared with 2021. Overall, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 36%. As a result, imports attained the peak of X litres, and then fell in the following year.

In value terms, sugary soft drink imports declined to $X in 2022. Over the period under review, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

In 2022, Romania (X litres) constituted the largest supplier of sugary soft drink to Bulgaria, accounting for a 37% share of total imports. Moreover, sugary soft drink imports from Romania exceeded the figures recorded by the second-largest supplier, Hungary (X litres), twofold. Serbia (X litres) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Romania amounted to +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+56.6% per year) and Serbia (+42.1% per year).

In value terms, the largest sugary soft drink suppliers to Bulgaria were Hungary ($X), Romania ($X) and Austria ($X), together comprising 60% of total imports. Ireland, Poland, Serbia, Ukraine, Turkey, Greece and Italy lagged somewhat behind, together accounting for a further 34%.

In terms of the main suppliers, Ukraine, with a CAGR of +100.4%, saw 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

The average sugary soft drink import price stood at $X per litre in 2022, increasing by 6.7% against the previous year. Over the period under review, the import price, however, recorded a slight reduction. The pace of growth appeared the most rapid in 2013 an increase of 11% against the previous year. As a result, import price attained the peak level of $X per litre. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per litre), while the price for Romania ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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