Oils & Fats - Bulgaria

Bulgaria

Highlights

Revenue in the Oils & Fats market amounts to US$280.20m in 2024. The market is expected to grow annually by 6.61% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$46bn in 2024).
In relation to total population figures, per person revenues of US$42.33 are generated in 2024.
In the Oils & Fats market, volume is expected to amount to 37.89m kg by 2029. The Oils & Fats market is expected to show a volume growth of 4.8% in 2025.0.
The average volume per person in the Oils & Fats market is expected to amount to 4.7kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Oils & Fats market in Bulgaria is witnessing minimal growth, influenced by factors such as changing consumer preferences towards healthier options, rising production costs, and increased competition from alternative spreads and oils, which challenge traditional product consumption.

Customer preferences: In Bulgaria, a notable shift towards health-conscious eating is influencing the Oils & Fats market, with consumers increasingly favoring plant-based oils and spreads over traditional animal fats. This trend is particularly prominent among younger demographics who prioritize sustainability and nutrition. Additionally, the rise of Mediterranean diets, rich in olive oil, reflects cultural influences and a growing awareness of heart health. As more Bulgarians embrace active lifestyles, the demand for oils with functional benefits, such as omega-3 enrichment, is also on the rise.

Trends in the market: In Bulgaria, the Oils & Fats market is experiencing a significant shift towards health-oriented products, driven by a consumer preference for plant-based oils over traditional animal fats. This trend is gaining momentum, particularly among younger consumers who are increasingly concerned with sustainability and nutrition. The popularity of the Mediterranean diet is further propelling the demand for olive oil, reflecting a growing awareness of healthy eating. Moreover, as the population becomes more active, the interest in oils with added functional benefits, such as omega-3s, is rising, presenting new opportunities for industry stakeholders to innovate and cater to evolving consumer preferences.

Local special circumstances: In Bulgaria, the Oils & Fats market is uniquely influenced by its rich culinary traditions and geographical diversity, which promote the use of locally sourced ingredients. The strong cultural appreciation for traditional Bulgarian dishes encourages the consumption of sunflower and rapeseed oils, widely produced in the region. Additionally, EU regulations on food quality and labeling foster a growing market for organic and health-oriented oils, aligning with local consumer demand for transparency and sustainability. This combination of cultural heritage and regulatory frameworks shapes the market dynamics, driving innovation and consumer loyalty.

Underlying macroeconomic factors: The Oils & Fats market in Bulgaria is significantly influenced by macroeconomic factors such as agricultural productivity, consumer spending, and international commodity prices. A stable national economy, characterized by steady GDP growth and low inflation, bolsters consumer confidence and spending on food products, including oils and fats. Additionally, fluctuations in global oilseed prices impact local production costs and retail prices, affecting market dynamics. EU agricultural policies and subsidies further enhance local production capabilities, promoting sustainability. As consumers increasingly prioritize health and wellness, the market also benefits from rising disposable incomes, enabling greater investment in high-quality, organic oils.

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.