Bulgaria: Market for Rusks, Toasted Bread and Similar Toasted Products 2022

Market Size for Rusks, Toasted Bread and Similar Toasted Products in Bulgaria

In 2021, after five years of growth, there was significant decline in the Bulgarian rusks and toasted bread market, when its value decreased by -13.1% to $X. Overall, consumption, however, enjoyed a noticeable increase. Over the period under review, the market hit record highs at $X in 2020, and then dropped in the following year.

Production of Rusks, Toasted Bread and Similar Toasted Products in Bulgaria

In value terms, rusks and toasted bread production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 16% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports from Bulgaria

In 2021, the amount of rusks, toasted bread and similar toasted products exported from Bulgaria surged to X tons, growing by 16% compared with 2020. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 17% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, rusks and toasted bread exports surged to $X in 2021. The total export value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Greece (X tons), Albania (X tons) and Germany (X tons) were the main destinations of rusks and toasted bread exports from Bulgaria, together comprising 28% of total exports. These countries were followed by Serbia, Ukraine, Poland, Romania, Croatia, the United States, North Macedonia, Belarus, Kosovo and the Czech Republic, which together accounted for a further 48%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +61.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for rusks and toasted bread exported from Bulgaria were Germany ($X), Albania ($X) and Greece ($X), with a combined 26% share of total exports. These countries were followed by Poland, Ukraine, Serbia, Romania, Croatia, North Macedonia, Kosovo, Belarus, the Czech Republic and the United States, which together accounted for a further 46%.

The United States, with a CAGR of +54.4%, saw 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

The average rusks and toasted bread export price stood at $X per ton in 2021, surging by 2.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2017 when the average export price increased by 17% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Poland ($X per ton), while the average price for exports to the United States ($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 Kosovo (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Rusks, Toasted Bread and Similar Toasted Products

Imports into Bulgaria

In 2021, imports of rusks, toasted bread and similar toasted products into Bulgaria soared to X tons, growing by 39% on the year before. The total import volume increased at an average annual rate of +5.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, rusks and toasted bread imports surged to $X in 2021. Over the period under review, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Greece (X tons) constituted the largest supplier of rusks and toasted bread to Bulgaria, with a 53% share of total imports. Moreover, rusks and toasted bread imports from Greece exceeded the figures recorded by the second-largest supplier, Romania (X tons), threefold. Spain (X tons) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Greece stood at +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (-5.1% per year) and Spain (+41.7% per year).

In value terms, Greece ($X) constituted the largest supplier of rusks and toasted bread to Bulgaria, comprising 46% of total imports. The second position in the ranking was taken by Romania ($X), with a 15% share of total imports. It was followed by Spain, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Greece amounted to +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (-4.7% per year) and Spain (+47.1% per year).

Import Prices by Country

In 2021, the average rusks and toasted bread import price amounted to $X per ton, increasing by 3.3% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 13% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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