Bread - Bulgaria | Statista Market Forecast

Bread - Bulgaria

Bulgaria

Highlights

Revenue in the Bread market amounts to US$640.60m in 2024. The market is expected to grow annually by 3.53% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$80bn in 2024).
In relation to total population figures, per person revenues of US$96.79 are generated in 2024.
In the Bread market, volume is expected to amount to 643.10m kg by 2029. The Bread market is expected to show a volume growth of 1.2% in 2025.0.
The average volume per person in the Bread market is expected to amount to 91.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Bread market in Bulgaria is struggling to grow due to negligible growth rates. Factors such as the increasing preference for healthy food options and the convenience of online shopping have impacted the market's growth rate. However, efforts are being made to promote the consumption of bread and other cereal products in the country.

Customer preferences: The rising health consciousness among Bulgarian consumers is driving the demand for healthier bread options. This trend is evident in the increasing popularity of gluten-free and whole grain breads. Additionally, there is a growing preference for locally-sourced and organic breads, reflecting a shift towards more sustainable and natural food choices. These changing consumer preferences are also influenced by the increasing awareness about the health benefits of consuming bread made with ancient grains such as spelt and quinoa.

Trends in the market: In Bulgaria, the Bread Market of the Bread & Cereal Products Market within The Food market is seeing a rise in demand for organic and gluten-free bread options. This trend is driven by consumers' increasing focus on health and wellness, as well as concerns about food allergies and intolerances. As a result, bakeries are expanding their product offerings to cater to these preferences. Additionally, there is a growing trend of online ordering and home delivery of bread, as consumers seek convenience and safety during the COVID-19 pandemic. These trends have significant implications for industry stakeholders, as they must adapt and innovate to meet changing consumer demands and remain competitive in the market.

Local special circumstances: In Bulgaria, the Bread Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's rich agricultural traditions and strong preference for locally sourced ingredients. This has led to a variety of traditional breads being popular in the market, such as banitsa and pitka. Additionally, the country's strict regulations on food production and labeling have resulted in a high level of consumer trust in the quality and authenticity of Bulgarian bread products. This unique blend of cultural and regulatory factors has shaped the dynamics of the Bread Market in Bulgaria, making it a market with its own distinct characteristics and opportunities for growth.

Underlying macroeconomic factors: The Bread Market of the Bread & Cereal Products Market within The Food market in Bulgaria is influenced by several macroeconomic factors. One of the key drivers of market growth is the country's stable economic health, supported by favorable fiscal policies and strong investment in the food industry. Additionally, the increasing demand for healthier and more convenient food options is boosting the sales of bread and cereal products. Moreover, the growing trend of health-conscious consumers and the rise in disposable income are also contributing to the market growth. However, the market is also impacted by global economic trends, such as trade policies and currency fluctuations, which can affect the cost of raw materials and ultimately impact the overall market performance.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.