Convenience Food - Bulgaria

Bulgaria

Revenue in the Convenience Food market amounts to €431.10m in 2024. The market is expected to grow annually by 4.64% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€141bn in 2024).
In relation to total population figures, per person revenues of €65.13 are generated in 2024.
In the Convenience Food market, volume is expected to amount to 117.00m kg by 2029. The Convenience Food market is expected to show a volume growth of 3.1% in 2025.
The average volume per person in the Convenience Food market is expected to amount to 15.6kg in 2024.

Key regions: Canada, China, Spain, Japan, Philippines

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Convenience Food Market in Bulgaria is experiencing a negligible growth rate, influenced by factors such as increasing demand for ready-to-eat meals and soups, as well as the convenience of online food delivery services. Rising health awareness among consumers may also contribute to the market's growth.

Customer preferences: Convenience food products in Bulgaria are increasingly catering to health-conscious consumers, with a focus on natural and organic ingredients. This trend is driven by the rising awareness of the benefits of a healthy diet and lifestyle, as well as a growing interest in sustainable and locally sourced food. Additionally, there is a growing demand for convenient and healthy meal options among busy professionals and young families, leading to the emergence of new players in the market offering fresh, ready-to-eat meals and meal kits. This shift towards healthier convenience food options is also influenced by the increasing number of individuals with dietary restrictions, such as gluten-free or vegan diets, who are seeking more convenient and accessible food choices.

Trends in the market: In Bulgaria, the Convenience Food Market is experiencing a rise in demand for healthy and organic options, driven by a growing health-conscious population. This trend is expected to continue, with a focus on locally sourced ingredients and environmentally friendly packaging. Additionally, there is a growing demand for convenience foods that cater to specific dietary needs, such as gluten-free or vegan options. These trends are significant for industry stakeholders as they must adapt their products and marketing strategies accordingly to meet consumer demands. There is also potential for new market entrants to capitalize on this trend by offering innovative and healthy convenience food options.

Local special circumstances: In Bulgaria, the Convenience Food Market is influenced by the country's unique geographical and cultural factors. Being located in Eastern Europe, Bulgaria has a strong influence from neighboring countries such as Turkey and Greece, resulting in a variety of food options and flavors. Additionally, the country has a strong traditional food culture, which has led to a demand for convenience foods that still maintain traditional flavors and ingredients. Furthermore, the country's strict regulations on food imports have encouraged the growth of domestic convenience food brands, catering to the local market's preferences and dietary habits.

Underlying macroeconomic factors: The Convenience Food Market in Bulgaria is significantly impacted by macroeconomic factors such as consumer disposable incomes, inflation rates, and overall economic stability. As the economy continues to grow and the standard of living improves in Bulgaria, consumers are increasingly turning to convenience food options for their busy lifestyles. Additionally, government policies that promote investment in the food industry and improve infrastructure are also contributing to the growth of the Convenience Food Market in the country. However, rising food prices and changing dietary preferences of consumers are potential challenges that could affect market performance in the future. Overall, the Convenience Food Market in Bulgaria is expected to experience steady growth as the economy continues to improve and consumers seek convenient and affordable food options.

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.