Bulgaria: Athletic Footwear Market 2024

Athletic Footwear Market Size in Bulgaria

The Bulgarian athletic footwear market rose modestly to $X in 2022, picking up by 4.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a buoyant increase. Athletic footwear consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Athletic Footwear Exports

Exports from Bulgaria

In 2022, shipments abroad of athletic footwear increased by 50% to X pairs, rising for the fourth year in a row after two years of decline. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 250%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, athletic footwear exports soared to $X in 2022. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 296% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Italy (X pairs) was the main destination for athletic footwear exports from Bulgaria, accounting for a 44% share of total exports. Moreover, athletic footwear exports to Italy exceeded the volume sent to the second major destination, Slovakia (X pairs), threefold. The third position in this ranking was held by Croatia (X pairs), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy stood at +40.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+68.7% per year) and Croatia (+36.9% per year).

In value terms, Italy ($X), Slovakia ($X) and Croatia ($X) constituted the largest markets for athletic footwear exported from Bulgaria worldwide, with a combined 70% share of total exports. Slovenia, Poland, Greece, Romania and Serbia lagged somewhat behind, together comprising a further 23%.

Among the main countries of destination, Slovenia, with a CAGR of +121.5%, 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 athletic footwear export price stood at $X per pair in 2022, shrinking by -7.6% against the previous year. Overall, the export price, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 57%. As a result, the export price reached the peak level of $X per pair. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (+24.5%), while the prices for the other major destinations experienced more modest paces of growth.

Athletic Footwear Imports

Imports into Bulgaria

In 2022, the amount of athletic footwear imported into Bulgaria reached X pairs, rising by 14% compared with the year before. Overall, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 95%. Over the period under review, imports attained the peak figure at X pairs in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, athletic footwear imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 84% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

Belgium (X pairs), Romania (X pairs) and Slovakia (X pairs) were the main suppliers of athletic footwear imports to Bulgaria, with a combined 53% share of total imports. Germany, Greece, Poland, Italy, Ireland and China lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +645.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of athletic footwear to Bulgaria, comprising 32% of total imports. The second position in the ranking was held by Poland ($X), with a 16% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Belgium stood at +57.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+58.8% per year) and Germany (+39.5% per year).

Import Prices by Country

In 2022, the average athletic footwear import price amounted to $X per pair, surging by 4.9% against the previous year. Over the period under review, the import price posted strong growth. The pace of growth appeared the most rapid in 2020 an increase of 56%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

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 Poland ($X per pair), while the price for Ireland ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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