Bulgaria: Vitamin Market 2024

Vitamin Market Size in Bulgaria

The Bulgarian vitamin market fell modestly to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Vitamin Production in Bulgaria

In value terms, vitamin production declined to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Vitamin Exports

Exports from Bulgaria

In 2022, shipments abroad of provitamins and vitamins decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, vitamin exports reduced sharply to $X in 2022. In general, exports, however, showed buoyant growth. The pace of growth was the most pronounced in 2019 when exports increased by X%. The exports peaked at $X in 2021, and then shrank remarkably in the following year.

Exports by Country

Poland (X tons), Greece (X tons) and Romania (X tons) were the main destinations of vitamin exports from Bulgaria, with a combined X% share of total exports. Iran, Italy, Armenia and Cyprus lagged somewhat behind, together accounting for 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 Armenia (with a CAGR of X.5%), while the other leaders experienced more modest paces of growth.

In value terms, Iran ($X), Greece ($X) and Italy ($X) appeared to be the largest markets for vitamin exported from Bulgaria worldwide, with a combined X% share of total exports. Poland, Armenia, Cyprus and Romania lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Armenia, with a CAGR of X.6%, 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

In 2022, the average vitamin export price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Poland ($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 Italy (X%), while the prices for the other major destinations experienced mixed trend patterns.

Vitamin Imports

Imports into Bulgaria

In 2022, purchases abroad of provitamins and vitamins increased by X% to X tons, rising for the second consecutive year after three years of decline. In general, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, vitamin imports totaled $X in 2022. Over the period under review, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of vitamin to Bulgaria, accounting for a X% share of total imports. Moreover, vitamin imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the Netherlands (X% per year).

In value terms, Germany ($X), the Netherlands ($X) and China ($X) constituted the largest vitamin suppliers to Bulgaria, together comprising X% of total imports. Poland, the Czech Republic and Austria lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, the Czech Republic, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average vitamin import price amounted to $X per ton, shrinking by X% against the previous year. In general, the import price saw a perceptible decline. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 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 Netherlands ($X per ton), while the price for Austria ($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 Czech Republic (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :