Baby Milk & Infant Formula - Bulgaria

Bulgaria

Revenue in the Baby Milk & Infant Formula market amounts to €19.49m in 2024. The market is expected to grow annually by 6.91% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€15,470m in 2024).
In relation to total population figures, per person revenues of €2.94 are generated in 2024.
In the Baby Milk & Infant Formula market, volume is expected to amount to 0.79m kg by 2029. The Baby Milk & Infant Formula market is expected to show a volume growth of 2.8% in 2025.
The average volume per person in the Baby Milk & Infant Formula market is expected to amount to 0.1kg in 2024.

Key regions: South Korea, India, United Kingdom, United States, Japan

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Comparación de regiones

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Analyst Opinion

The Baby Milk & Infant Formula Market in Bulgaria is experiencing minimal growth, influenced by factors such as increasing competition, changing consumer preferences, and stricter regulations. Despite this, the market is expected to continue growing due to the rising demand for convenient and nutritious baby food options.

Customer preferences: In Bulgaria, there has been a notable shift towards organic and natural baby milk and infant formula products. This trend is driven by growing health consciousness among parents, who are increasingly opting for products with clean and simple ingredients. Additionally, there has been a rise in demand for lactose-free and hypoallergenic options, as well as products with added probiotics and DHA for improved gut and brain development. This trend is likely to continue as more parents prioritize the health and well-being of their babies.

Trends in the market: In Bulgaria, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is experiencing a shift towards organic and natural products. Parents are becoming more health-conscious and are willing to pay a premium for products that are free from additives, preservatives, and artificial ingredients. This trend is expected to continue, with a growing demand for organic and natural options in the market. This has significant implications for industry stakeholders, as they will need to adapt their product offerings to meet the changing consumer preferences and capitalize on this trend. Additionally, there is a rising interest in plant-based and allergen-free options, further driving the need for innovation and diversification in the market.

Local special circumstances: In Bulgaria, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily influenced by the country's strong cultural tradition of breastfeeding. This has led to a slower adoption rate of formula feeding compared to other markets. Additionally, the country's strict regulations on advertising and labeling of infant formula have also impacted market dynamics. Furthermore, the country's geographical proximity to other European markets has allowed for the import of foreign brands, leading to a diverse market landscape.

Underlying macroeconomic factors: The Baby Milk & Infant Formula Market within The Food market in Bulgaria is greatly impacted by macroeconomic factors such as economic stability, consumer purchasing power, and government policies. The country's growing population and improving economic conditions have led to a rise in demand for baby food products. Furthermore, the government's initiatives to promote breastfeeding and regulate the advertising of formula milk have also influenced the market. Additionally, global economic trends, such as the increasing number of working mothers and rising middle-class population, have also contributed to the growth of the market in Bulgaria.

Methodology

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.