Bulgaria: Vitamin Market 2022

Vitamin Market Size in Bulgaria

The Bulgarian vitamin market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption saw a buoyant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Vitamin Exports

Exports from Bulgaria

In 2021, after two years of growth, there was significant decline in shipments abroad of provitamins and vitamins, when their volume decreased by -X% to X tons. Over the period under review, exports, however, showed significant growth. The growth pace was the most rapid in 2016 with an increase of X%. The exports peaked at X tons in 2020, and then reduced sharply in the following year.

In value terms, vitamin exports skyrocketed to $X in 2021. Overall, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

Romania (X tons), Greece (X tons) and Italy (X tons) were the main destinations of vitamin exports from Bulgaria, together accounting for X% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vitamin exported from Bulgaria were Italy ($X), Greece ($X) and Romania ($X), together accounting for X% of total exports.

In terms of the main countries of destination, Italy, with a CAGR of +X%, 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 vitamin export price stood at $X per ton in 2021, jumping by X% against the previous year. Overall, the export price, however, recorded a perceptible reduction. The growth pace was the most rapid in 2019 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Italy ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+X%), while the prices for the other major destinations experienced a decline.

Vitamin Imports

Imports into Bulgaria

After three years of decline, overseas purchases of provitamins and vitamins increased by X% to X tons in 2021. Overall, imports saw a resilient increase. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, vitamin imports expanded remarkably to $X in 2021. Over the period under review, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

Germany (X tons), China (X tons) and Poland (X tons) were the main suppliers of vitamin imports to Bulgaria, together accounting for X% of total imports. These countries were followed by the Netherlands, Austria, Belgium and the Czech Republic, which together accounted for a further X 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vitamin suppliers to Bulgaria were Germany ($X), the Netherlands ($X) and China ($X), with a combined X% share of total imports. Poland, Austria, Belgium and the Czech Republic lagged somewhat behind, together accounting for a further X Czech Republic, with a CAGR of +X%, recorded the highest growth rate of 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 vitamin import price amounted to $X per ton, declining by -X% against the previous year. In general, the import price recorded a perceptible reduction. The pace of growth was the most pronounced in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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