Bulgaria: Dairy Spread Market 2024

Dairy Spread Market Size in Bulgaria

The Bulgarian dairy spread market soared to $X in 2022, picking up by 28% against the previous year. Over the period under review, consumption posted a buoyant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Dairy Spread Production in Bulgaria

In value terms, dairy spread production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 18% against the previous year. Dairy spread production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

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Dairy Spread Exports

Exports from Bulgaria

In 2022, approx. X tons of dairy spreads were exported from Bulgaria; declining by -18.8% against 2021. Over the period under review, exports recorded a abrupt setback. The pace of growth appeared the most rapid in 2016 when exports increased by 578% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, dairy spread exports fell to $X in 2022. Overall, exports showed a abrupt contraction. The growth pace was the most rapid in 2016 when exports increased by 662%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons), France (X tons) and Greece (X tons) were the main destinations of dairy spread exports from Bulgaria, together accounting for 71% of total exports. The Netherlands, Belgium, Cyprus and Romania lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +149.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Greece ($X) and the Netherlands ($X) appeared to be the largest markets for dairy spread exported from Bulgaria worldwide, with a combined 64% share of total exports.

The Netherlands, with a CAGR of +119.6%, recorded 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

In 2022, the average dairy spread export price amounted to $X per ton, growing by 15% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 32% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to France ($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 Greece (+5.0%), while the prices for the other major destinations experienced mixed trend patterns.

Dairy Spread Imports

Imports into Bulgaria

In 2022, imports of dairy spreads into Bulgaria surged to X tons, picking up by 73% on 2021. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 157% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, dairy spread imports surged to $X in 2022. In general, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 338%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Greece (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of dairy spread imports to Bulgaria, with a combined 97% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +50.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of dairy spreads to Bulgaria, comprising 52% of total imports. The second position in the ranking was held by Greece ($X), with a 24% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +46.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (+46.9% per year) and the Netherlands (+23.7% per year).

Import Prices by Country

The average dairy spread import price stood at $X per ton in 2022, surging by 7.3% against the previous year. In general, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dairy spread import price increased by +83.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 71% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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