Food - Bulgaria | Statista Market Forecast

Food - Bulgaria

Bulgaria

Highlights

Revenue in the Food market amounts to US$11.03bn in 2024. The market is expected to grow annually by 5.07% (CAGR 2024-2029).
The market's largest segment is the segment Confectionery & Snacks with a market volume of US$2.30bn in 2024.
In global comparison, most revenue is generated China (US$2tn in 2024).
In relation to total population figures, per person revenues of US$1.67k are generated in 2024.
In the Food market, 2.5% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 3.54bn kg by 2029. The Food market is expected to show a volume growth of 2.4% in 2025.0.
The average volume per person in the Food market is expected to amount to 481.20kg in 2024.

Key regions:

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Bulgarian food market has seen a slow growth rate due to various factors such as economic instability, changing consumer preferences, and increasing competition from neighboring countries. However, the market is expected to pick up pace with the increasing demand for convenience food and rising health consciousness among consumers. The availability of a wide range of food products, including dairy, meat, fruits, and vegetables, has also contributed to the market's growth. Additionally, the introduction of innovative products and technologies has further boosted the market's growth.

Customer preferences: The Food market in Bulgaria has witnessed a rise in demand for locally sourced, organic, and sustainable products. This trend is driven by consumers' increasing awareness of health and environmental concerns. Additionally, there has been a growing interest in plant-based and vegetarian diets, with many consumers opting for alternative protein sources. These preferences are reflective of the country's cultural values and a shift towards a more conscious and mindful approach to food consumption.

Trends in the market: In Bulgaria, The Food market industry is experiencing a rise in online food ordering and delivery services, as consumers increasingly opt for convenience and time-saving solutions. This trend is expected to continue, driven by the growing use of technology and smartphones, as well as changing consumer habits. This presents a significant opportunity for industry stakeholders to invest in and expand their online presence and delivery capabilities. Additionally, the shift towards online food shopping may result in a decrease in foot traffic for traditional brick-and-mortar stores, requiring them to adapt and incorporate digital strategies to stay competitive in the market.

Local special circumstances: In Bulgaria, The Food market is heavily influenced by the country's rich agricultural heritage and diverse culinary traditions. Local produce, such as dairy, meats, and fruits, play a significant role in shaping the market's offerings. Additionally, strict food safety and labeling regulations ensure high-quality products for consumers. The country's growing middle class and increasing tourism have also contributed to the demand for unique and authentic food experiences, leading to the popularity of food tours and culinary events.

Underlying macroeconomic factors: The Food market in Bulgaria is impacted by macroeconomic factors such as the country's national economic health, fiscal policies, and global economic trends. Bulgaria's strong economic growth and stable fiscal policies have contributed to a stable and growing food market. Additionally, the country's strategic location and membership in the European Union have opened up opportunities for international trade and investment, further bolstering the market. However, challenges such as inflation and unemployment rates can also affect consumer purchasing power and demand for food products. As such, the overall economic climate plays a crucial role in shaping the performance of The Food market in Bulgaria.

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.