Household Sewing Machine Market Overview in Bulgaria
Market Overview
In 2019, after two years of growth, there was significant decline in the Bulgarian household sewing machine market, when its value decreased by -
% to $. Over the period under review, consumption, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2011 with an increase of % y-o-y. Over the period under review, the market attained the maximum level at $ in 2009; however, from 2010 to 2019, consumption remained at a lower figure.
% to $. Over the period under review, consumption, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2011 with an increase of % y-o-y. Over the period under review, the market attained the maximum level at $ in 2009; however, from 2010 to 2019, consumption remained at a lower figure.Consumption
For the third year in a row, Bulgaria recorded growth in consumption of household sewing machines, which increased by % to units in 2019. In general, consumption, however, showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2011 when the consumption volume increased by % year-to-year. Household sewing machine consumption peaked at units in 2008; however, from 2009 to 2019, consumption failed to regain the momentum.
The size of the household sewing machine market in Bulgaria shrank to $ in 2019, with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a deep contraction. The growth pace was the most rapid in 2011 when the market value increased by % against the previous year. Household sewing machine consumption peaked at $ in 2009; however, from 2010 to 2019, consumption stood at a somewhat lower figure.
% to units in 2019. In general, consumption, however, showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2011 when the consumption volume increased by % year-to-year. Household sewing machine consumption peaked at units in 2008; however, from 2009 to 2019, consumption failed to regain the momentum.The size of the household sewing machine market in Bulgaria shrank to $
in 2019, with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a deep contraction. The growth pace was the most rapid in 2011 when the market value increased by % against the previous year. Household sewing machine consumption peaked at $ in 2009; however, from 2010 to 2019, consumption stood at a somewhat lower figure.Market Forecast
Depressed by shrinking demand for household sewing machine in Bulgaria, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from 2019 to , which is projected to depress the market volume to units by the end of .
% for the period from 2019 to , which is projected to depress the market volume to units by the end of .Trade Balance
Bulgaria remains a net importer of household sewing machine; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of units, which was equal to $-. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
units, which was equal to $-. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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