Bulgaria: Wine Market 2024

Wine Market Size in Bulgaria

In 2021, the Bulgarian wine market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in years to come.

Wine Production in Bulgaria

In value terms, wine production surged to $X in 2021 estimated in export price. In general, production enjoyed significant growth. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Wine Exports

Exports from Bulgaria

In 2021, the amount of wine exported from Bulgaria declined to X litres, which is down by -7.4% compared with the year before. Overall, exports showed a abrupt setback. The smallest decline of -0.9% was in 2017. Over the period under review, the exports attained the peak figure at X litres in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, wine exports amounted to $X in 2021. Over the period under review, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 9.2%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X litres) was the main destination for wine exports from Bulgaria, accounting for a 40% share of total exports. Moreover, wine exports to Poland exceeded the volume sent to the second major destination, Sweden (X litres), twofold. The Czech Republic (X litres) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Poland stood at -4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+9.4% per year) and the Czech Republic (-10.5% per year).

In value terms, the largest markets for wine exported from Bulgaria were Poland ($X), Sweden ($X) and the Czech Republic ($X), with a combined 52% share of total exports. These countries were followed by the UK, Belgium, the United States, Italy, Japan, Russia, Germany and Romania, which together accounted for a further 31%.

The United States, with a CAGR of +16.8%, saw the highest rates of growth with regard to 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

The average wine export price stood at $X per litre in 2021, picking up by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.5%. The pace of growth appeared the most rapid in 2019 when the average export price increased by 12% against the previous year. 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 Romania ($X per litre), while the average price for exports to Poland ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+27.6%), while the prices for the other major destinations experienced more modest paces of growth.

Wine Imports

Imports into Bulgaria

In 2021, the amount of wine imported into Bulgaria surged to X litres, increasing by 51% compared with 2020. Overall, imports showed a buoyant increase. The pace of growth appeared the most rapid in 2015 with an increase of 87% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, wine imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Spain (X litres), Italy (X litres) and North Macedonia (X litres) were the main suppliers of wine imports to Bulgaria, with a combined 64% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +32.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wine suppliers to Bulgaria were France ($X), Italy ($X) and Germany ($X), with a combined 69% share of total imports. Spain, New Zealand, North Macedonia, Chile, South Africa, Moldova and the Czech Republic lagged somewhat behind, together accounting for a further 24%.

Spain, with a CAGR of +22.1%, 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

In 2021, the average wine import price amounted to $X per litre, therefore, remained relatively stable against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 35% against the previous year. The import price peaked at $X per litre in 2014; however, from 2015 to 2021, 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 ($X per litre), while the price for North Macedonia ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Moldova (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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