Bulgaria: Coffee Extract Market 2024

Coffee Extract Market Size in Bulgaria

The Bulgarian coffee extract market soared to $X in 2023, increasing by X% against the previous year. Overall, consumption, however, recorded a remarkable increase. Coffee extract consumption peaked in 2023 and is likely to see steady growth in the near future.

Coffee Extract Production in Bulgaria

In value terms, coffee extract production rose significantly to $X in 2023 estimated in export price. Overall, production recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Coffee extract production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Coffee Extract Exports

Exports from Bulgaria

In 2023, overseas shipments of coffee extracts, essences and concentrates were finally on the rise to reach X tons after three years of decline. In general, exports, however, showed a abrupt curtailment. The exports peaked at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, coffee extract exports skyrocketed to $X in 2023. Overall, exports, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

Cyprus (X tons), Greece (X tons) and Germany (X tons) were the main destinations of coffee extract exports from Bulgaria, with a combined X% share of total exports. Kosovo, the United States, North Macedonia, Romania, Italy, Serbia, Croatia, Poland, Turkey and Austria lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Serbia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for coffee extract exported from Bulgaria were Greece ($X), Cyprus ($X) and the United States ($X), with a combined X% share of total exports. North Macedonia, Germany, Kosovo, Romania, Italy, Serbia, Turkey, Croatia, Poland and Austria lagged somewhat behind, together accounting for a further X%.

Serbia, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average coffee extract export price amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price, however, saw a mild increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2022 to 2023, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

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

Coffee Extract Imports

Imports into Bulgaria

In 2023, supplies from abroad of coffee extracts, essences and concentrates decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, coffee extract imports skyrocketed to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Hungary (X tons), Ukraine (X tons) and the Czech Republic (X tons) were the main suppliers of coffee extract imports to Bulgaria, together comprising X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Ukraine (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest coffee extract suppliers to Bulgaria were Hungary ($X), Brazil ($X) and Ukraine ($X), together accounting for X% of total imports.

Ukraine, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 coffee extract import price amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Spain ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform