Bulgaria: Market for Condensed Or Evaporated Milk (Sweetened) 2024

Market Size for Condensed Or Evaporated Milk (Sweetened) in Bulgaria

In 2022, the Bulgarian market for condensed or evaporated milk (sweetened) was finally on the rise to reach $X after three years of decline. In general, consumption saw a perceptible decrease. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Bulgaria

In 2022, overseas shipments of condensed or evaporated milk (sweetened) increased by 12% to X tons, rising for the third year in a row after two years of decline. In general, exports posted a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of 1,714% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, sweetened condensed and evaporated milk exports shrank to $X in 2022. Over the period under review, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 791% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons) was the main destination for sweetened condensed and evaporated milk exports from Bulgaria, with a 33% share of total exports. Moreover, sweetened condensed and evaporated milk exports to Romania exceeded the volume sent to the second major destination, Cyprus (X tons), threefold. The third position in this ranking was taken by Germany (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Romania stood at +22.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+30.6% per year) and Germany (+193.5% per year).

In value terms, Romania ($X) remains the key foreign market for condensed or evaporated milk (sweetened) exports from Bulgaria, comprising 36% of total exports. The second position in the ranking was held by Germany ($X), with a 9.7% share of total exports. It was followed by Cyprus, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value to Romania totaled +29.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+249.4% per year) and Cyprus (+36.3% per year).

Export Prices by Country

The average export price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, waning by -15.9% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 163% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the 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 the United States ($X per ton), while the average price for exports to Greece ($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 Germany (+19.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Bulgaria

In 2022, approx. X tons of condensed or evaporated milk (sweetened) were imported into Bulgaria; standing approx. at the previous year's figure. Over the period under review, imports recorded a noticeable downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 145%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, sweetened condensed and evaporated milk imports rose remarkably to $X in 2022. In general, imports showed a mild setback. The pace of growth appeared the most rapid in 2013 when imports increased by 387% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Lithuania (X tons) were the main suppliers of sweetened condensed and evaporated milk imports to Bulgaria, with a combined 69% share of total imports. Italy, Latvia, Ukraine, Poland and Austria lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +84.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Lithuania ($X) constituted the largest sweetened condensed and evaporated milk suppliers to Bulgaria, with a combined 72% share of total imports.

In terms of the main suppliers, Lithuania, with a CAGR of +83.4%, 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

In 2022, the average import price for condensed or evaporated milk (sweetened) amounted to $X per ton, picking up by 7.3% against the previous year. Overall, the import price showed a tangible increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 99% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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