Market Insights Consumer Food Fish & Seafood

Processed Fish & Seafood - Bulgaria

Bulgaria

Revenue in the Processed Fish & Seafood market amounts to €157.20m in 2024. The market is expected to grow annually by 2.48% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€29,750m in 2024).
In relation to total population figures, per person revenues of €23.76 are generated in 2024.
In the Processed Fish & Seafood market, volume is expected to amount to 16.64m kg by 2029. The Processed Fish & Seafood market is expected to show a volume growth of 0.3% in 2025.
The average volume per person in the Processed Fish & Seafood market is expected to amount to 2.5kg in 2024.

Key regions: Japan, United States, Philippines, Russia, China

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Analyst Opinion

The Processed Fish & Seafood market in Bulgaria is seeing a negligible growth rate, impacted by factors such as consumer shift towards healthier food options, increasing demand for convenience, and advancements in processing technologies. Rising health consciousness and wider availability of online options are also contributing to the market's growth.

Customer preferences: As more consumers in Bulgaria become health-conscious and prioritize convenience, there has been a growing demand for processed fish and seafood products that offer quick and easy meal solutions. This trend is also driven by the increasing number of busy working professionals and the growing popularity of online grocery shopping. Additionally, there is a rising preference for sustainably sourced and organic fish and seafood products, reflecting a growing awareness of environmental and ethical concerns among consumers.

Trends in the market: In Bulgaria, the Processed Fish & Seafood Market is experiencing a trend towards healthier and more sustainable options. Consumers are increasingly seeking out certified sustainable and organic seafood products. This trend is expected to continue, with a growing awareness of the environmental impact of fishing and the importance of responsible sourcing. This shift towards sustainable seafood is significant for industry stakeholders, as it presents new opportunities for differentiation and market expansion. Additionally, the rise of e-commerce and online food delivery services is expected to further drive the growth of the Processed Fish & Seafood Market in Bulgaria.

Local special circumstances: In Bulgaria, the Processed Fish & Seafood Market is heavily influenced by the country's geographical location, being situated along the Black Sea coast. This allows for easy access to fresh seafood and a strong fishing industry. Additionally, Bulgaria has a rich culinary tradition that heavily incorporates seafood into its dishes, driving demand for processed fish and seafood products. On the regulatory side, the country's membership in the European Union has opened up opportunities for export and trade within the bloc, creating a competitive market for processed fish and seafood.

Underlying macroeconomic factors: The Processed Fish & Seafood Market in Bulgaria is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. With a strong focus on exports, the performance of the market is greatly impacted by fluctuations in global demand for processed fish and seafood. In addition, government policies and investments in infrastructure and technology play a significant role in shaping market growth. Furthermore, factors such as changing consumer preferences and demographics, such as an aging population, also have a considerable impact on the demand for processed fish and seafood 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.