Bulgaria: Tea Market 2022

Tea Market Size in Bulgaria

The Bulgarian tea market surged to $X in 2021, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a strong increase. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in the near future.

Tea Exports

Exports from Bulgaria

In 2021, shipments abroad of tea decreased by -X% to X tons, falling for the third consecutive year after seven years of growth. Over the period under review, exports continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2015 when exports increased by X%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, tea exports declined markedly to $X in 2021. In general, exports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Greece (X tons), the Philippines (X tons) and Georgia (X tons) were the main destinations of tea exports from Bulgaria, with a combined X% share of total exports. Denmark, the UK, Romania and Germany lagged somewhat behind, together accounting for a further X 2012 to 2021, the biggest increases were in Germany (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tea exported from Bulgaria were Georgia ($X), Greece ($X) and the Philippines ($X), together comprising X% of total exports. Romania, Denmark, the UK and Germany lagged somewhat behind, together comprising a further X, with a CAGR of +X%, 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 2021, the average tea export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price saw prominent growth. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Georgia ($X per ton), while the average price for exports to the UK ($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 the Philippines (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Tea Imports

Imports into Bulgaria

In 2021, overseas purchases of tea increased by X% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, tea imports expanded notably to $X in 2021. Overall, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Sri Lanka (X tons) constituted the largest supplier of tea to Bulgaria, accounting for a X% share of total imports. Moreover, tea imports from Sri Lanka exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Sri Lanka stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+X% per year) and Turkey (+X% per year).

In value terms, Sri Lanka ($X) constituted the largest supplier of tea to Bulgaria, comprising X% of total imports. The second position in the ranking was held by Poland ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Sri Lanka amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+X% per year) and China (+X% per year).

Import Prices by Country

In 2021, the average tea import price amounted to $X per ton, declining by -X% against the previous year. Overall, the import price saw a pronounced contraction. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Turkey ($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 mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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