Bulgaria: Hop Market 2024

Hop Market Size in Bulgaria

In 2022, the Bulgarian hop market increased by X% to $X, rising for the second year in a row after six years of decline. Over the period under review, consumption, however, continues to indicate a noticeable contraction. Hop consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Hop Production in Bulgaria

In value terms, hop production rose to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

The average yield of hops in Bulgaria expanded to X tons per ha in 2022, picking up by X% compared with the year before. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the yield increased by X% against the previous year. The hop yield peaked at X tons per ha in 2012; however, from 2013 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the hop harvested area in Bulgaria dropped to X ha, waning by X% against 2021. In general, the harvested area recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the harvested area increased by X% against the previous year. As a result, the harvested area attained the peak level of X ha. From 2014 to 2022, the growth of the hop harvested area failed to regain momentum.

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Hop Exports

Exports from Bulgaria

In 2022, overseas shipments of hops decreased by X% to X tons, falling for the third year in a row after two years of growth. In general, total exports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, hop exports declined notably to $X in 2022. Overall, exports, however, recorded a slight expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons), Italy (X tons) and Germany (X tons) were the main destinations of hop exports from Bulgaria, together comprising X% of total exports. Poland, the Netherlands, France, the Czech Republic and Hungary lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) remains the key foreign market for hops exports from Bulgaria, comprising X% of total exports. The second position in the ranking was held by Italy ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Spain amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Germany (X% per year).

Export Prices by Country

The average hop export price stood at $X per ton in 2022, approximately reflecting the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. The export price peaked in 2022 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 France ($X per ton), while the average price for exports to Poland ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hop Imports

Imports into Bulgaria

In 2022, imports of hops into Bulgaria totaled X tons, growing by X% on the previous year's figure. Over the period under review, imports posted a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, hop imports shrank remarkably to $X in 2022. In general, imports, however, continue to indicate a pronounced decline. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then fell sharply in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of hop to Bulgaria, with a X% share of total imports. Moreover, hop imports from Germany exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Germany was relatively modest.

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

From 2012 to 2022, the average annual growth rate of value from Germany amounted to X%.

Import Prices by Country

In 2022, the average hop import price amounted to $X per ton, declining by X% against the previous year. Overall, the import price faced a deep setback. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for Germany amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%).

Source: IndexBox Platform

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