Bulgaria: Whey Market 2024

Whey Market Size in Bulgaria

In 2022, the Bulgarian whey market increased by 5.9% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Whey Production in Bulgaria

In value terms, whey production surged to $X in 2022 estimated in export price. In general, production, however, saw a deep setback. Whey production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Whey Exports

Exports from Bulgaria

In 2022, whey exports from Bulgaria rose markedly to X tons, growing by 12% on 2021. Overall, exports enjoyed a strong increase. The growth pace was the most rapid in 2017 when exports increased by 120% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, whey exports amounted to $X in 2022. Over the period under review, exports saw a buoyant increase. The pace of growth was the most pronounced in 2013 with an increase of 126% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Greece (X tons) was the main destination for whey exports from Bulgaria, with a 82% share of total exports. Moreover, whey exports to Greece exceeded the volume sent to the second major destination, Poland (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume to Greece amounted to +39.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+2.0% per year) and Romania (+7.1% per year).

In value terms, Greece ($X) remains the key foreign market for whey exports from Bulgaria, comprising 76% of total exports. The second position in the ranking was held by Poland ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Greece stood at +39.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+1.7% per year) and Romania (+3.3% per year).

Export Prices by Country

The average whey export price stood at $X per ton in 2022, waning by -1.6% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 64% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (+0.8%), while the prices for the other major destinations experienced a decline.

Whey Imports

Imports into Bulgaria

In 2022, approx. X tons of whey were imported into Bulgaria; declining by -6.2% against 2021. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 17%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, whey imports contracted slightly to $X in 2022. The total import value increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 36%. As a result, imports attained the peak of $X, and then reduced slightly in the following year.

Imports by Country

Slovakia (X tons), Poland (X tons) and the Netherlands (X tons) were the main suppliers of whey imports to Bulgaria, together comprising 51% of total imports. Germany, Austria, the Czech Republic, Lithuania, Greece and France lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +33.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest whey suppliers to Bulgaria were Slovakia ($X), the Netherlands ($X) and Poland ($X), together accounting for 47% of total imports. Germany, Austria, Greece, the Czech Republic, France and Lithuania lagged somewhat behind, together accounting for a further 44%.

Lithuania, with a CAGR of +28.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average whey import price stood at $X per ton in 2022, growing by 4.6% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 24% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :