Spreads & Sweeteners - Bulgaria

Bulgaria

Revenue in the Spreads & Sweeteners market amounts to €134.90m in 2024. The market is expected to grow annually by 6.51% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€132,300m in 2024).
In relation to total population figures, per person revenues of €20.39 are generated in 2024.
In the Spreads & Sweeteners market, volume is expected to amount to 68.49m kg by 2029. The Spreads & Sweeteners market is expected to show a volume growth of 6.7% in 2025.
The average volume per person in the Spreads & Sweeteners market is expected to amount to 8.3kg in 2024.

Key regions: Spain, Japan, China, Philippines, United Kingdom

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Food market in Bulgaria has seen a steady growth in the Spreads & Sweeteners sub-markets. Factors such as increasing health consciousness among consumers and the convenience of online services have contributed to this growth. However, the minimal growth rate can be attributed to factors such as the limited availability of healthier options and the impact of fluctuating raw material prices on production costs.

Customer preferences: As Bulgarians become more health-conscious, there is a noticeable shift towards natural and organic spreads and sweeteners. This is driven by a growing preference for wholesome and unprocessed foods, as well as a rise in alternative diets such as veganism and paleo. This trend is further fueled by the increasing availability and variety of locally sourced, sustainably produced options, reflecting the country's strong cultural ties to traditional and artisanal food practices.

Trends in the market: In Bulgaria, the Spreads & Sweeteners Market within The Food market is experiencing a shift towards healthier and more natural options. This trend is driven by consumer demand for clean-label products and a rising awareness of the negative effects of artificial ingredients. As a result, companies are introducing new products made with natural sweeteners such as honey and stevia, and are eliminating artificial additives. This trend is expected to continue, with potential implications for industry stakeholders including the need for product innovation and marketing strategies that cater to the health-conscious consumer.

Local special circumstances: In Bulgaria, the Spreads & Sweeteners Market within The Food market is heavily influenced by the country's agricultural sector, as it is a major producer of honey and other natural sweeteners. Additionally, the market is impacted by the country's cultural preference for traditional, locally-sourced foods. This has created opportunities for small, artisanal producers to thrive and cater to the demand for high-quality, natural products. Furthermore, the government's focus on promoting healthy eating habits has led to a growing interest in alternative sweeteners, such as stevia and agave, further driving the market's growth.

Underlying macroeconomic factors: The Spreads & Sweeteners Market within The Food market in Bulgaria is influenced by macroeconomic factors such as consumer spending, inflation rates, and government policies. As the country's economy continues to recover from the global recession, consumer spending is expected to increase, leading to a higher demand for food products. Additionally, government policies promoting healthy eating habits and regulating food labeling and safety standards are also impacting the market. Furthermore, rising concerns over obesity and diabetes are driving the demand for healthier and all-natural sweeteners, leading to the growth of the market.

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.