Bulgaria: Cigars And Cigarillos Market 2024

Cigars And Cigarillos Market Size in Bulgaria

The Bulgarian cigars and cigarillos market dropped to $X in 2023, leveling off at the previous year. Overall, consumption continues to indicate buoyant growth. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Cigars And Cigarillos Production in Bulgaria

In value terms, cigars and cigarillos production declined slightly to $X in 2023 estimated in export price. In general, production, however, posted a strong increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Cigars And Cigarillos Exports

Exports from Bulgaria

Cigars and cigarillos exports from Bulgaria rose to X tons in 2023, picking up by X% compared with 2022 figures. Overall, exports saw a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, cigars and cigarillos exports skyrocketed to $X in 2023. Over the period under review, exports showed significant growth. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2023 and are likely to see steady growth in years to come.

Exports by Country

Romania (X tons), Croatia (X kg) and Albania (X kg) were the main destinations of cigars and cigarillos exports from Bulgaria, together comprising X% of total exports. Kosovo, Slovenia, Armenia and North Macedonia lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Kosovo (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Croatia ($X) and Slovenia ($X) constituted the largest markets for cigars and cigarillos exported from Bulgaria worldwide, with a combined X% share of total exports. Albania, Kosovo, Armenia and North Macedonia lagged somewhat behind, together accounting for a further X%.

Kosovo, 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 2023, the average cigars and cigarillos export price amounted to $X per ton, jumping by X% against the previous year. In general, the export price posted a prominent expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. The export price peaked in 2023 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cigars And Cigarillos Imports

Imports into Bulgaria

In 2023, imports of cigars, cheroots and cigarillos into Bulgaria skyrocketed to X tons, with an increase of X% against the year before. Over the period under review, imports enjoyed a slight expansion. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked in 2023 and are likely to continue growth in the immediate term.

In value terms, cigars and cigarillos imports skyrocketed to $X in 2023. Overall, imports saw strong growth. The growth pace was the most rapid in 2016 when imports increased by X%. Imports peaked in 2023 and are expected to retain growth in the near future.

Imports by Country

The Dominican Republic (X tons), Germany (X tons) and Cuba (X tons) were the main suppliers of cigars and cigarillos imports to Bulgaria, together accounting for X% of total imports. Italy, the Netherlands, Nicaragua, Spain and Honduras lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Honduras (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Cuba ($X) and the Dominican Republic ($X) constituted the largest cigars and cigarillos suppliers to Bulgaria, together accounting for X% of total imports. Spain, Italy, the Netherlands, Honduras and Nicaragua lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Honduras, 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

The average cigars and cigarillos import price stood at $X per ton in 2023, increasing by X% against the previous year. Over the period under review, import price indicated buoyant growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cigars and cigarillos import price increased by X% against 2013 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Cuba ($X per ton), while the price for the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Poland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform