Industry revenue of »operation of dairies and cheese making« in Bulgaria 2011-2023

Revenues of the Bulgarian dairy and cheese making industry grew from 485 million U.S. dollars in 2011 to 578 million U.S. dollars in 2014, fuelled by the growing demand for products such as yogurts due to the perceived health benefits, growing investments in the dairy industry and the low manufacturing costs. However, ever since, revenues have been declining, owing to price fluctuations, limited export opportunities and stagnant local purchases at grocery chains. Additionally, the outbreak of the Lumpy Skin Disease, an infectious disease in cattle caused by a virus, in 2016, has not augured well for the industry, leading to a decline in the number of cattle herds. As of 2018, the number of dairy cows in the country amounted to 245,000, compared to 288,000 in 2012, as per a report from the USDA Foreign Agricultural Service.

The short to medium term does not augur too well for the sector either, as the outbreak of the coronavirus pandemic has caused a virtual shutdown of all production facilities and disrupted the supply chain cycle. This is true not only of the dairy industry but the country as a whole, with the Bulgarian economy estimated to shrink by four percent in 2020.

Industry revenue of »operation of dairies and cheese making« in Bulgaria from 2011 to 2023

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Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Bulgaria. The industry “operation of dairies and cheese making“ has the code “C1051“.

Details on the methodology can be found here.

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