Mineral and aerated waters market in Bulgaria

Earlier Report Observations

Between 2018 and 2020, the Bulgarian market for mineral and aerated waters showed notable shifts. Market volume grew from 523.1 million liters in 2018 to 546.8 million liters in 2019. This expansion was supported by significant investments in production capabilities, such as the launch of a new bottling line for still and carbonated water in PET bottles by Mikhalkovo AD, and a regulatory update that clarified labeling and classification rules for bottled waters, helping to standardize the market. Consumer preferences also began shifting towards sparkling water as a more appealing alternative to still water, further stimulating demand.

The following year, 2020, saw market volume contract sharply to 455.1 million liters. During the same period, trade flows evolved distinctly. Imports rose steadily from 6.7 million liters in 2018 to 12.5 million liters by 2024, indicating sustained foreign product presence. Exports demonstrated remarkable growth, surging from 3.6 million liters in 2018 to 40.2 million liters in 2024. This export boom was facilitated by leading producers like Mikhalkovo and Devin EOOD expanding their distribution networks abroad, with Devin also acting as a distribution partner for international brands like Red Bull and Granini.

Underlying these volume changes were structural market developments. Consumer demand gradually moved towards more affordable segments and a greater share of spring and table waters, partly at the expense of traditional mineral water. Although private label offerings from retail chains remained a minor segment, their sales doubled in value between 2018 and 2019, reflecting the market's adaptation to diverse price points and changing purchasing habits.

Production mineral and aerated waters in Bulgaria

In value, 2017-2020, K $ US

Bulgaria's mineral and aerated waters production declined for the second year in a row. In 2020, output was valued at 78 394 thousand US dollars, marking a 13.7% decrease compared to the previous year. Looking at the period from 2017 to 2020, production fell by 6.3%, which translates to an average annual decline of 2.2%. The highest production value was recorded in 2018 at 92 906 thousand US dollars, with the largest year-over-year increase of 11.0% also occurring that year.

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

In kind, 2017-2020, M l

After two years of growth, Bulgaria's mineral and aerated waters production volume decreased. In 2020, the country produced 457.9 million liters, which represents a 16.0% drop from the previous year. From 2017 to 2020, production declined by 8.1%, averaging a 2.8% annual decrease. The peak production volume was in 2019 at 544.9 million liters, with the largest increase of 4.8% also recorded that year.

Annual dynamics of production in Bulgaria in kind, 2017-2020, M l

Exports mineral and aerated waters from Bulgaria

Exports in kind, K l

Mineral and aerated waters exports from Bulgaria increased for the third consecutive year. In 2020, export volume reached 11 451 thousand liters, showing a dramatic 59.3% rise compared to 2019. Over the 2017-2020 period, exports grew by 284.9%, with a compound annual growth rate of 56.7%.

Annual dynamics of product's exports from Bulgaria in kind, 2017-2020, K l

From 2017 to 2020, Bulgaria's mineral and aerated waters exports in volume terms were distributed across multiple countries. Romania accounted for 20.3% of exports, Italy for 12.5%, and Ukraine for 11.7%. Together, these three partners represented 44.6% of total export flows, with no single country emerging as clearly dominant.

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

Mineral and aerated waters exports from Bulgaria rose for the third year in a row. In 2020, exports were valued at 2 597 thousand US dollars, equivalent to a sharp 30.2% increase from the previous year. Between 2017 and 2020, export value grew by 217.3%, with a compound annual growth rate of 46.9%.

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

During 2017-2020, Greece, Italy, and Romania were significant buyers of Bulgarian mineral and aerated waters in value terms. Greece accounted for 17.9% of exports, Italy for 14.9%, and Romania for 13.9%. However, their combined share reached only 46.7% of total export value, with the remaining 53.3% spread across numerous other trading partners.

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

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

Imports mineral and aerated waters to Bulgaria

Imports in kind, K l

After two years of growth, Bulgaria's mineral and aerated waters import volume declined. In 2020, imports reached 8 656 thousand liters, representing a modest 5.6% decrease compared to 2019. From 2017 to 2020, imports increased by 51%, averaging a 14.7% annual growth rate. The highest import volume was recorded in 2019 at 9 174 thousand liters, with the largest increase of 37.2% also occurring that year.

Annual dynamics of product's imports to Bulgaria in kind, 2017-2020, K l

Between 2017 and 2020, Italy dominated Bulgaria's mineral and aerated waters imports in volume terms, accounting for 77.4% of total flows. The remaining share was distributed among various smaller trading partners.

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

Following two years of increase, Bulgaria's mineral and aerated waters import value declined. In 2020, imports totaled 3 490 thousand US dollars, marking a significant 20.3% drop year-over-year. Over the 2017-2020 period, import value rose by 27.8%, with a compound annual growth rate of 8.5%. The peak import value was in 2019 at 4 378 thousand US dollars, with the largest increase of 33.4% also recorded that year.

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

From 2017 to 2020, Italy was the primary source for Bulgaria's mineral and aerated waters imports in value terms, representing 75.8% of total flows. Other markets contributed smaller shares, forming a diverse group of secondary partners.

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

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