Soups and broths market in Bulgaria

Earlier Report Observations

The physical volume of the soups and broths market in Bulgaria showed a declining trend over the 2018-2024 period, falling from 2 191 tons to 2 070 tons. This overall decrease of 5.5% was marked by periodic fluctuations, with significant drops in 2021 and 2023 followed by recoveries in the subsequent years.

In contrast, the market value exhibited substantial growth, increasing by 9% from 8 446 thousand USD to 9 211 thousand USD. After reaching a low point of 7 406 thousand USD in 2021, the market value rebounded strongly, with particularly sharp rises in 2023 and 2024.

Production soups and broths in Bulgaria

In value, 2017-2020, K $ US

Bulgaria's soups and broths production value declined for the second consecutive year. In 2020, output was valued at 4 962 thousand US dollars, marking a 1.5% decrease from the previous year. Production grew by 50.7% between 2017 and 2020, translating to an annualized growth rate of 14.6%. The highest value was recorded in 2018 at 5 280 thousand US dollars. The largest annual decline occurred in 2019 at 4.6%, while the largest increase was in 2018 at 60.3%.

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

In kind, 2017-2020, t

Following two years of growth, Bulgaria's soups and broths production volume declined. In 2020, Bulgaria produced 1 215 tonnes of soups and broths, which is 6.5% lower than in 2019. Over the 2017-2020 period, production increased by 24.8%, with a compound annual growth rate of 7.7%. The peak volume was recorded in 2019 at 1 300 tonnes. The largest annual increase occurred in 2018 at 31.3%.

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

Exports soups and broths from Bulgaria

Exports in kind, t

Bulgaria's soups and broths exports increased for the second consecutive year. In 2020, the country exported 77.4 tonnes, representing a strong 21.9% growth compared to the previous year. Between 2017 and 2020, exports surged by 91.7%, with a compound annual growth rate of 24.2%. The lowest export volume was recorded in 2018 at 40.3 tonnes. The largest annual decline occurred in 2018 at 0.2%, while the largest increase was in 2019 at 57.5%.

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

From 2017 to 2020, the United Kingdom, Greece, and Cyprus were the main destinations for Bulgaria's soups and broths exports in volume terms. The United Kingdom accounted for 26.9% of exports, Greece for 24.5%, and Cyprus for 19.7%. Together, these three countries represented 71.2% of total export 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

Bulgaria's soups and broths export value increased for the third consecutive year. In 2020, exports reached 430 thousand US dollars, reflecting a 17.6% year-over-year growth. Between 2017 and 2020, export value rose by 113.3%, with a compound annual growth rate of 28.7%.

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

Between 2017 and 2020, the United Kingdom, Cyprus, and Greece were the primary buyers of Bulgarian soups and broths in value terms. The United Kingdom accounted for 26.2% of export value, Cyprus for 19.0%, and Greece for 18.7%. Collectively, these three markets made up 64.0% of total export value.

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

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

Imports soups and broths to Bulgaria

Imports in kind, t

In 2020, Bulgaria imported 950.3 tonnes of soups and broths, up by 6.3% from 2019. Over the 2017-2020 period, imports increased by 7.9%, with a compound annual growth rate of 2.6%. The highest import volume was recorded in 2018 at 952.5 tonnes. The largest annual decline occurred in 2019 at 6.1%, while the largest increase was in 2018 at 8.2%.

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

From 2017 to 2020, Slovakia dominated Bulgaria's soups and broths import structure in volume terms, accounting for 70.4% of total imports. Other markets held relatively smaller shares.

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

In 2020, Bulgaria's soups and broths imports were valued at 3 249 thousand US dollars, representing a 10.4% increase compared to the previous year. Between 2017 and 2020, import value grew by 8.6%, equating to an annualized growth rate of 2.8%. The lowest import value was recorded in 2019 at 2 943 thousand US dollars, while the highest was in 2018 at 3 451 thousand US dollars. The largest annual decline occurred in 2019 at 14.7%, and the largest increase was in 2018 at 15.3%.

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

From 2017 to 2020, Slovakia, Poland, and Romania were the largest suppliers of soups and broths to Bulgaria in value terms. Slovakia accounted for 65.3% of import value, Poland for 10.3%, and Romania for 7.9%. Together, these three countries formed 83.4% 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