Odoriferous substances for food and drink market in Bulgaria

Earlier Report Observations

The market for odoriferous substances in Bulgaria's food and drink industry grew to 2 357 t in 2019, supported by shifting consumer preferences and rising domestic demand. The COVID-19 pandemic then impacted consumption in 2020, followed by the introduction of stricter European labeling and packaging rules for flavorings in 2021, which increased compliance demands. Global raw material supply disruptions in 2022 further constrained the market, leading to a contraction to 891 t by 2023.

A recovery to 1 041 t occurred in 2024, driven by Bulgarian companies actively promoting their products at international trade fairs, which boosted export opportunities. This turnaround was also supported by ongoing investments in digitalization and sustainable production technologies, a trend exemplified earlier by SIAD Bulgaria's 2022 launch of innovative solutions for green and healthy manufacturing.

Production odoriferous substances for food and drink in Bulgaria

In value, 2017-2020, K $ US

The market exhibited significant volatility during this period. Production volumes reached their lowest point in 2017 before climbing to a peak in 2018, representing a 2.4-fold increase. In 2020, Bulgaria's output of odoriferous substances for food and drink was valued at 5 346 K $ US, marking an 18.6% increase from the previous year. The highest value was recorded in 2018 at 7 453 K $ US. The most substantial decline occurred in 2019 with a 39.5% drop, while the largest increase was in 2018 with a 136.0% rise.

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

In kind, 2017-2020, t

The data shows irregular fluctuations, pointing to a volatile market environment. Production volumes hit their lowest in 2017 before rising to a maximum in 2019, a 2.8-fold difference. In 2020, Bulgaria produced 254.6 t of odoriferous substances for food and drink, representing a sharp 48.2% decrease from the prior year. The peak volume was recorded in 2019 at 491.2 t. The most significant increase occurred in 2018 with a 152.4% jump.

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

Exports odoriferous substances for food and drink from Bulgaria

Exports in kind, t

In 2020, Bulgaria exported 701 t of odoriferous substances for food and drink, down 2.3% from 2019. Over the 2017-2020 period, exports fell by 45.5%, with an annualized decline rate of 18.3%. The lowest export volume was in 2018 at 682 t. The largest drop occurred in 2018 with a 47.1% decrease, while the biggest increase was in 2019 with a 5.3% rise.

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

From 2017 to 2020, Bulgaria's export destinations for odoriferous substances in kind were diverse. Poland accounted for 16.6% of exports, the United Arab Emirates for 14.5%, and Austria for 12.3%, together making up 43.4% of total flows. The remaining 56.6% went to numerous other countries.

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

Bulgaria's exports of odoriferous substances for food and drink declined for the second year in a row. In 2020, export value amounted to 5 167 K $ US, down 17.3% from the previous year. Between 2017 and 2020, exports decreased by 27.3%, with an annualized decline of 10.1%. The highest value was recorded in 2018 at 9 359 K $ US. The most significant drop occurred in 2019 with a 33.2% decrease, while the largest increase was in 2018 with a 31.7% rise.

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

From 2017 to 2020, the Netherlands was the top destination for Bulgaria's exports in value terms, accounting for 31.0%, followed by Greece at 26.8% and Serbia at 6.4%. Together, these three countries represented 64.2% of total export 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 odoriferous substances for food and drink to Bulgaria

Imports in kind, t

After two years of growth, Bulgaria's imports of odoriferous substances for food and drink declined. In 2020, the country imported 2 584 t, showing a slight 2.4% decrease from the previous year. Over the 2017-2020 period, imports increased by 21.5%, with an annualized growth rate of 6.7%. The peak import volume was in 2019 at 2 584 t. The largest increase occurred in 2018 with a 15.7% rise.

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

Throughout 2017-2020, Ireland, Germany, and Hungary were the key sources for Bulgaria's imports in kind, collectively 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

Bulgaria's imports of odoriferous substances for food and drink increased for the third consecutive year. In 2020, imports reached 41 844 K $ US, up 0.6% from 2019. Between 2017 and 2020, imports grew by 20.1%, equating to an annualized rate of 6.3%.

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

From 2017 to 2020, Ireland was the largest supplier to Bulgaria in value terms, representing 63.4% of imports, followed by Germany at 13.3% and the Netherlands at 5.3%. Together, these three countries accounted for 82.0% of total import value.

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

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