Lets talk about wine

You can get great bottle of wine in Bulgaria for 4€. And it’s not fake wine as sold in discount stores.

Wine Industry in Bulgaria

There are different industries in Bulgarian economy that have a high potential growth rate. Among these industries is the wine industry. Notably, the wines’ sector is the most competitive sectors in food industry in Bulgaria.

To begin with, while Bulgaria is yet to gain the fame as a wine producer such as Italy, Spain and France, this country is the second largest producer of bottled wine across the globe. Moreover, Bulgaria is one of the producers of the finest wine in the world. Statistics indicate that the wine industry is Bulgaria has been growing steadily in the last few years. For example, in 2013, the wine industry in this country grew by 45%. In this regard, the country produced between 180 million and 200 million liters of wine as compared to 127 million liters of wine in 2012. Statistics further point to the fact that in the first six months of 2013, Bulgaria exported close to 28.2 million liters of wine, which represented a 5.8% growth in wine export compared to the first six month of 2012.

The export markets of the Bulgarian wine industry include China, Britain, Russia, the United States and Vietnam. Since the beginning of 2014, Bulgaria has exported more than 22 million liters of wine to different markets across the globe. Importantly, half of this export went to Russia, which is the main market of the Bulgarian wine. Similarly, statistics point to the fact that the United States is also a major market for the Bulgarian wine. Notably, the American businessman Robert Hike, who already imports wine from Bulgaria to the United States, is planning to increase his volume of wine import from Bulgaria to the United States to 40 million bottles in the next five years. In addition to this, Vietnamese companies recently signed a trade deal that will see Bulgaria export 500,000 liters of its wine to Vietnam. With respect to the Chinese market, it is expected that Bulgaria will be exporting close to one million of liters of its wine to this nation every year.

Studies indicate that Bulgaria grows close to 100,000 hectares of grapes for commercial purposes. On the other hand, a further 60,000 hectares of grapes is owned by farmers. With this in mind, the average annual yield of grapes in this country is estimated at 230,000 to 250,000 tons. Similarly, the average production capacity of the wine industry in Bulgaria is estimated at 10 million hectoliters.

Importantly, the grape yield in this country is expected to grow tremendously in the next few years owing to the introduction of new type of grapes that are resistant to droughts, diseases and pests. Moreover, the entrance of new investors in the wine industry will boost its production capacity in the next few years.

Speaking from this perspective, the wine industry in Bulgaria is one of the most promising industries that would yield high returns on investment in the next few years. And wines are amazing. You should try it!