Milk - Bulgaria | Statista Market Forecast

Milk - Bulgaria

Bulgaria

Highlights

Revenue in the Milk market amounts to US$306.50m in 2024. The market is expected to grow annually by 6.51% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$71bn in 2024).
In relation to total population figures, per person revenues of US$46.30 are generated in 2024.
In the Milk market, volume is expected to amount to 232.80m kg by 2029. The Milk market is expected to show a volume growth of 2.5% in 2025.0.
The average volume per person in the Milk market is expected to amount to 31.6kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Milk Market in Bulgaria has seen slow growth due to factors such as changing consumer preferences, increased competition, and government regulations. Despite this, the Dairy Products & Eggs Market within The Food market continues to grow, driven by the convenience of online services and rising health consciousness. However, the minimal growth rate is being impacted by rising production costs and fluctuating market prices.

Customer preferences: Consumers in Bulgaria are increasingly turning to organic and natural milk products, as health and wellness trends gain traction. This is driven by growing concerns over the use of antibiotics and hormones in conventional dairy production. Additionally, the rise of lactose intolerance and veganism has led to a surge in demand for plant-based milk alternatives, such as almond and oat milk. As a result, dairy companies are diversifying their product offerings to cater to these changing consumer preferences.

Trends in the market: In Bulgaria, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards organic and plant-based milk alternatives, as consumers become more health-conscious and environmentally aware. This trend is expected to continue, with a projected CAGR of 10.5% in the dairy alternatives market from 2020-2025. This presents opportunities for dairy companies to diversify their product offerings and for new players to enter the market. However, it also poses a challenge for traditional dairy producers to adapt to changing consumer preferences and maintain their market share. Additionally, the rise of e-commerce and online grocery shopping is expected to further impact the distribution channels for milk and dairy products in Bulgaria.

Local special circumstances: In Bulgaria, the Milk Market of the Dairy Products & Eggs Market within The Food market is influenced by the country's rich dairy tradition and its geographical location. The demand for dairy products is high due to the strong culinary culture and the availability of fresh milk from local farms. Additionally, Bulgaria's membership in the European Union has led to stricter regulations and quality standards for dairy products, ensuring consumer trust and driving market growth. The country's export-oriented approach also plays a significant role in shaping the milk market, with a focus on high-quality products and competitive pricing.

Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market in Bulgaria is influenced by macroeconomic factors such as consumer purchasing power, government regulations, and international trade agreements. As the country's economy continues to grow and consumer incomes rise, there is an increasing demand for milk and dairy products. Additionally, the government's supportive policies and investments in the agricultural sector have helped to improve the quality and production of milk. Furthermore, Bulgaria's membership in the European Union has opened up new opportunities for trade and export, leading to a boost in the milk market.

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.