Bulgaria: Yoghurt Market 2024

Yoghurt Market Size in Bulgaria

The Bulgarian yoghurt market contracted significantly to $X in 2022, waning by -21.3% against the previous year. Overall, consumption showed a mild contraction. As a result, consumption attained the peak level of $X, and then declined rapidly in the following year.

Yoghurt Production in Bulgaria

In value terms, yoghurt production shrank to $X in 2022 estimated in export price. Overall, production showed a abrupt descent. The pace of growth appeared the most rapid in 2021 with an increase of 41%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Yoghurt Exports

Exports from Bulgaria

In 2022, the amount of yoghurt exported from Bulgaria reduced slightly to X tons, standing approx. at the previous year. In general, total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by +0.8% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by 81%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, yoghurt exports shrank slightly to $X in 2022. Overall, exports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2013 when exports increased by 101% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Greece (X tons) was the main destination for yoghurt exports from Bulgaria, accounting for a 33% share of total exports. Moreover, yoghurt exports to Greece exceeded the volume sent to the second major destination, Romania (X tons), twofold. The third position in this ranking was taken by the UK (X tons), with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Greece stood at -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+28.6% per year) and the UK (+100.4% per year).

In value terms, Greece ($X), Romania ($X) and Germany ($X) constituted the largest markets for yoghurt exported from Bulgaria worldwide, together comprising 54% of total exports.

Among the main countries of destination, Germany, with a CAGR of +134.4%, saw the highest growth rate of 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 yoghurt export price stood at $X per ton in 2022, stabilizing at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.4%. The most prominent rate of growth was recorded in 2020 an increase of 18%. As a result, the export price reached the peak level of $X per ton; afterwards, it flattened through to 2022.

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 Germany ($X per ton), while the average price for exports to Spain ($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 Austria (+11.7%), while the prices for the other major destinations experienced more modest paces of growth.

Yoghurt Imports

Imports into Bulgaria

After seven years of growth, overseas purchases of yoghurt decreased by -10.9% to X tons in 2022. Over the period under review, imports, however, enjoyed strong growth. The growth pace was the most rapid in 2016 with an increase of 48%. Over the period under review, imports reached the maximum at X tons in 2021, and then fell in the following year.

In value terms, yoghurt imports shrank rapidly to $X in 2022. Overall, imports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2016 when imports increased by 76% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then dropped remarkably in the following year.

Imports by Country

Poland (X tons), Romania (X tons) and Serbia (X tons) were the main suppliers of yoghurt imports to Bulgaria, together accounting for 85% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Serbia (with a CAGR of +58.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest yoghurt suppliers to Bulgaria were Poland ($X), Romania ($X) and Germany ($X), with a combined 87% share of total imports. Serbia and Greece lagged somewhat behind, together comprising a further 11%.

Among the main suppliers, Serbia, with a CAGR of +66.6%, recorded 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

In 2022, the average yoghurt import price amounted to $X per ton, with a decrease of -4.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2016 when the average import price increased by 19% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then contracted modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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