Beef and buffalo meat market in Bulgaria

Earlier Report Observations

The Bulgarian beef and buffalo meat market volume grew strongly from 14.9 thousand t in 2018 to 18.4 thousand t in 2019, a period marked by the entry of new players into the red meat sector which stimulated market expansion. After a minor contraction to 17.4 thousand t in 2020, the market entered a phase of rapid growth, reaching 28.0 thousand t by 2022.

This growth through 2021 and 2022 occurred alongside notably stable wholesale prices for beef and veal. The market framework was also shaped by the 2022 introduction of new EU-compliant labeling requirements for organic beef, which formalized a growing product segment. The market's value in dollar terms rose significantly from $69.5 million in 2020 to $93.8 million in 2021, reflecting the increased volume.

A sharp shift occurred in 2023, as the domestic market volume fell to 18.4 thousand t. This was primarily due to a major expansion of exports, which reached 6.0 thousand t with Turkey as the key destination, diverting supply away from the local market. Concurrently, domestic production declined, highlighting infrastructural constraints. By 2024, industry reports indicated a recovery in production volumes and a continued surge in exports, reinforcing the market's increasing orientation toward international trade.

Production beef and buffalo meat in Bulgaria

In value, 2017-2020, K $ US

Bulgaria's beef and buffalo meat production has increased for the third consecutive year. In 2020, output was valued at 41 186 thousand US dollars, marking a 15.1% advance compared to 2019. Over the period from 2017 to 2020, production grew by 30.1%, with a compound annual growth rate of 9.2%.

Annual dynamics of production in Bulgaria in value, 2017-2020, K $ US

In kind, 2017-2020, t

Top producers of beef and buffalo meat, 2017-2020

World map of production of beef and buffalo meat, 2017-2020

Bulgaria's beef and buffalo meat production volume has increased for the second consecutive year. In 2020, 9 556 tonnes were produced, reflecting a measured increase of 7.3% compared to 2019. Between 2017 and 2020, production rose by 9.4%, equating to an annualized rate of 3.0%. The minimum volume was recorded in 2018 at 8 018 tonnes, which also saw the largest decline of 8.2%. In contrast, the largest increase occurred in 2019, with an 11.1% rise.

Annual dynamics of production in Bulgaria in kind, 2017-2020, t

Exports beef and buffalo meat from Bulgaria

Exports in kind, t

After a two-year decrease, Bulgaria's cross-border shipments of beef and buffalo meat increased. In 2020, exports amounted to 402 tonnes, which is 38.2% higher than in 2019. Over the period from 2017 to 2020, exports decreased by 70.4%, with a compound annual growth rate of -33.3%. The minimum value was recorded in 2019 at 291 tonnes, which also saw the largest decline of 63.9%.

Annual dynamics of product's exports from Bulgaria in kind, 2017-2020, t

Throughout 2017 to 2020, the Netherlands, North Macedonia, and Poland formed the key group of partners for Bulgaria's beef and buffalo meat exports in kind. The Netherlands accounted for 26.8% of exports, North Macedonia for 17.5%, and Poland for 16.9%, jointly representing 61.2% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Bulgaria in kind, 2017-2020

Exports in value, K $ US

There were noticeable fluctuations in market performance during this period. Import levels varied significantly, with a 3.2-fold difference between the high in 2017 and the low in 2019. In 2020, beef and buffalo meat deliveries from Bulgaria came to 3 316 thousand US dollars, showing a sharp increase of 140.1% compared to 2019. The minimum value was recorded in 2019 at 1 381 thousand US dollars, which also saw the largest decline of 51.8%.

Annual dynamics of product's exports from Bulgaria in value, 2017-2020, K $ US

In 2017 to 2020, the leading destinations for Bulgaria's beef and buffalo meat exports in value terms were Romania, the Netherlands, and North Macedonia. Romania accounted for 19.8% of exports, the Netherlands for 18.8%, and North Macedonia for 17.7%, jointly accounting for 56.3% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Bulgaria in value, 2017-2020

Imports beef and buffalo meat to Bulgaria

Imports in kind, t

In 2020, Bulgaria's beef and buffalo meat imports amounted to 8 280 tonnes, down by 15.6% compared to 2019. Over the period from 2017 to 2020, imports decreased by 8%, with a compound annual growth rate of -2.7%. The minimum value was recorded in 2018 at 7 730 tonnes, while the maximum was in 2019 at 9 809 tonnes, which also saw the largest increase of 26.9%.

Annual dynamics of product's imports to Bulgaria in kind, 2017-2020, t

In 2017 to 2020, Poland, Italy, and Romania were the principal destinations for Bulgaria's beef and buffalo meat imports in kind. Poland accounted for 32.6% of imports, Italy for 24.1%, and Romania for 10.7%, jointly accounting for 67.4% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Bulgaria in kind, 2017-2020

Imports in value, K $ US

After a two-year gain, Bulgaria's beef and buffalo meat imports declined. In 2020, imports totalled 31 596 thousand US dollars, which is 12.5% less compared to 2019. Between 2017 and 2020, imports increased by 4.3%, equating to an annualized rate of 1.4%. The maximum value was recorded in 2019 at 36 097 thousand US dollars, which also saw the largest increase of 15.0%.

Annual dynamics of product's imports to Bulgaria in value, 2017-2020, K $ US

In 2017 to 2020, Poland, Italy, and the Netherlands remained the principal suppliers of beef and buffalo meat to Bulgaria in value terms. Poland accounted for 27.2% of imports, Italy for 24.8%, and the Netherlands for 14.9%, jointly accounting for 67.0% of total imports.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Bulgaria in value, 2017-2020