Key Market Indicators
**Bulgarian Wine Revenue Faces Slight Decline by 2028** Bulgarian wine revenue is projected to decline slightly to €128 million by 2028, down from €129 million in 2023. This represents an annual decrease of 0.1% in compound annual growth rate (CAGR). Since 2013, the Bulgarian wine market has been shrinking at an average rate of 0.9% per year. In 2023, Bulgaria ranked 10th in wine revenue, with Austria overtaking it at €129 million. Italy, Spain, and Germany held the second, third, and fourth positions, respectively. **Bulgarian Wine Consumption on the Rise** Contrary to revenue, Bulgarian wine consumption is expected to increase. By 2028, consumption is set to reach approximately 132,000 metric tons, up from 114,000 metric tons in 2023. This marks an average annual growth rate of 2.4%. Since 2019, Bulgarian wine demand has risen by 3.5% per year. In 2023, Bulgaria ranked 27th in wine consumption, with Ireland leading at 114,000 metric tons. France, the United States, and Italy occupied the second, third, and fourth positions, respectively. **Decline in Bulgarian Wine Production** Wine production in Bulgaria is set to decline to roughly 85,000 metric tons by 2028, down from 102,000 metric tons in 2023. This represents an average annual decrease of 2.8%. Since 1966, Bulgarian wine supply has been decreasing at the same rate per year. In 2023, Bulgaria was ranked 20th in wine production, with Switzerland surpassing it at 102,000 metric tons. France, Spain, and the United States held the second, third, and fourth positions, respectively.
