Bulgaria: Spirits And Liqueurs Market 2024

Spirits And Liqueurs Market Size in Bulgaria

The Bulgarian spirits and liqueurs market skyrocketed to $X in 2023, growing by X% against the previous year. In general, consumption enjoyed a strong expansion. Over the period under review, the market reached the maximum level in 2023 and is expected to retain growth in years to come.

Spirits And Liqueurs Production in Bulgaria

In value terms, spirits and liqueurs production rose notably to $X in 2023 estimated in export price. Over the period under review, production enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Spirits And Liqueurs Exports

Exports from Bulgaria

After three years of decline, shipments abroad of spirits, liqueurs and other spirituous beverages increased by X% to X litres in 2023. Overall, exports, however, continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X litres in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, spirits and liqueurs exports surged to $X in 2023. In general, exports posted a prominent expansion. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. The exports peaked in 2023 and are likely to see gradual growth in years to come.

Exports by Country

Romania (X litres) was the main destination for spirits and liqueurs exports from Bulgaria, accounting for a X% share of total exports. Moreover, spirits and liqueurs exports to Romania exceeded the volume sent to the second major destination, the United Arab Emirates (X litres), sixfold. The third position in this ranking was held by Morocco (X litres), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Romania stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Morocco (X% per year).

In value terms, Romania ($X) remains the key foreign market for spirits, liqueurs and other spirituous beverages exports from Bulgaria, comprising X% of total exports. The second position in the ranking was taken by North Macedonia ($X), with an X% share of total exports. It was followed by Poland, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Romania stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (X% per year) and Poland (X% per year).

Export Prices by Country

In 2023, the average spirits and liqueurs export price amounted to $X per litre, waning by X% against the previous year. Over the period under review, the export price, however, saw a prominent expansion. The growth pace was the most rapid in 2020 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per litre in 2022, and then dropped modestly in the following year.

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

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

Spirits And Liqueurs Imports

Imports into Bulgaria

In 2023, supplies from abroad of spirits, liqueurs and other spirituous beverages increased by X% to X litres, rising for the second year in a row after two years of decline. In general, imports, however, recorded a slight curtailment. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X litres in 2019; however, from 2020 to 2023, imports remained at a lower figure.

In value terms, spirits and liqueurs imports skyrocketed to $X in 2023. Over the period under review, imports continue to indicate strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The UK (X litres), Romania (X litres) and Greece (X litres) were the main suppliers of spirits and liqueurs imports to Bulgaria, with a combined X% share of total imports. Germany, the Netherlands, Ireland, Spain, France, Albania, Italy, Sweden, the United States and Poland lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest spirits and liqueurs suppliers to Bulgaria were the UK ($X), Romania ($X) and Ireland ($X), with a combined X% share of total imports. The Netherlands, Germany, Greece, Italy, the United States, Spain, France, Sweden, Poland and Albania lagged somewhat behind, together accounting for a further X%.

Albania, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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 2023, the average spirits and liqueurs import price amounted to $X per litre, with an increase of X% against the previous year. Over the period under review, the import price continues to indicate a strong expansion. The pace of growth was the most pronounced in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2023 and is expected to retain growth in the near future.

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 the United States ($X per litre), while the price for Albania ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform