Global Baking Soda Market to Reach $8 Billion by 2030, with CAGR of +6.6%

IndexBox has just published a new report: World - Baking Soda - Market Analysis, Forecast, Size, Trends And Insights.

The baking soda market is expected to experience steady growth, with a forecasted CAGR of +4.3% in volume and +6.6% in value from 2024 to 2030. By the end of 2030, the market volume is projected to reach 15M tons, with a market value of $8B in nominal prices.

Market Forecast

Driven by increasing demand for baking soda worldwide, the market is expected to continue an upward consumption trend over the next six years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +4.3% for the period from 2024 to 2030, which is projected to bring the market volume to 15M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.6% for the period from 2024 to 2030, which is projected to bring the market value to $8B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Baking Soda

In 2024, global baking soda consumption amounted to 11M tons, therefore, remained relatively stable against 2023. The total consumption volume increased at an average annual rate of +3.8% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at 12M tons in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The global baking soda market value rose to $5.4B in 2024, growing by 2.3% 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). In general, the total consumption indicated notable growth from 2013 to 2024: its value increased at an average annual rate of +4.3% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -4.5% against 2022 indices. As a result, consumption attained the peak level of $5.7B. From 2023 to 2024, the growth of the global market failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were China (2.4M tons), the United States (1.7M tons) and India (1M tons), together comprising 44% of global consumption. Germany, Pakistan, Brazil, Japan, Russia, the UK and France lagged somewhat behind, together accounting for a further 27%.

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the UK (with a CAGR of +7.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest baking soda markets worldwide were the United States ($1.1B), China ($666M) and India ($465M), together accounting for 42% of the global market.

In terms of the main consuming countries, the United States, with a CAGR of +9.4%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of baking soda per capita consumption in 2024 were Germany (6.5 kg per person), the UK (5.4 kg per person) and France (5.1 kg per person).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by the UK (with a CAGR of +7.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Baking Soda

In 2024, the amount of baking soda produced worldwide was estimated at 12M tons, flattening at the previous year. In general, the total production indicated pronounced growth from 2013 to 2024: its volume increased at an average annual rate of +4.2% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -0.9% against 2022 indices. The growth pace was the most rapid in 2017 when the production volume increased by 16%. Global production peaked at 12M tons in 2022; however, from 2023 to 2024, production remained at a lower figure.

In value terms, baking soda production stood at $5.7B in 2024 estimated in export price. Overall, the total production indicated strong growth from 2013 to 2024: its value increased at an average annual rate of +5.3% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -0.5% against 2022 indices. The growth pace was the most rapid in 2020 when the production volume increased by 26% against the previous year. Over the period under review, global production attained the maximum level at $5.7B in 2022; afterwards, it flattened through to 2024.

Production By Country

The countries with the highest volumes of production in 2024 were China (3M tons), the United States (1.8M tons) and India (995K tons), with a combined 50% share of global production. Turkey, Germany, Russia, Pakistan, Japan, Brazil and the UK lagged somewhat behind, together comprising a further 30%.

From 2013 to 2024, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Turkey (with a CAGR of +15.4%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Baking Soda

Global baking soda imports declined modestly to 2.4M tons in 2024, therefore, remained relatively stable against 2023. Overall, total imports indicated a perceptible increase from 2013 to 2024: its volume increased at an average annual rate of +4.1% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -4.8% against 2022 indices. The pace of growth appeared the most rapid in 2020 with an increase of 14% against the previous year. Global imports peaked at 2.5M tons in 2022; however, from 2023 to 2024, imports remained at a lower figure.

In value terms, baking soda imports contracted slightly to $1.1B in 2024. Over the period under review, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2022 with an increase of 26%. As a result, imports reached the peak of $1.2B. From 2023 to 2024, the growth of global imports remained at a lower figure.

Imports By Country

In 2024, South Korea (242K tons), followed by France (145K tons), Italy (119K tons), Belgium (115K tons), China (110K tons) and the Netherlands (109K tons) represented the major importers of baking soda, together mixing up 35% of total imports. The following importers - Spain (93K tons), Germany (84K tons), Brazil (73K tons) and Canada (71K tons) - together made up 13% of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +24.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, France ($82M), South Korea ($73M) and Canada ($51M) constituted the countries with the highest levels of imports in 2024, together comprising 18% of global imports. Italy, the Netherlands, Belgium, Germany, China, Spain and Brazil lagged somewhat behind, together comprising a further 26%.

China, with a CAGR of +16.4%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2024, the average baking soda import price amounted to $471 per ton, which is down by -3.6% against the previous year. Over the last eleven-year period, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2022 when the average import price increased by 23% against the previous year. Global import price peaked at $489 per ton in 2023, and then declined slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($713 per ton), while South Korea ($300 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Canada (+5.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Baking Soda

In 2024, overseas shipments of baking soda increased by 4.5% to 2.5M tons for the first time since 2021, thus ending a two-year declining trend. Overall, total exports indicated a strong expansion from 2013 to 2024: its volume increased at an average annual rate of +6.2% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 35%. Over the period under review, the global exports reached the maximum at 2.6M tons in 2021; however, from 2022 to 2024, the exports stood at a somewhat lower figure.

In value terms, baking soda exports reduced slightly to $991M in 2024. Over the period under review, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2022 when exports increased by 15% against the previous year. As a result, the exports reached the peak of $1.1B. From 2023 to 2024, the growth of the global exports remained at a somewhat lower figure.

Exports By Country

In 2024, China (753K tons) and Turkey (535K tons) were the major exporters of baking sodaacross the globe, together constituting 52% of total exports. The United States (134K tons) took a 5.4% share (based on physical terms) of total exports, which put it in second place, followed by Spain (5.3%), Italy (5.1%), Bulgaria (4.9%) and Bosnia and Herzegovina (4.6%). The following exporters - Germany (83K tons), France (74K tons) and Thailand (67K tons) - each accounted for a 9% share of total exports.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Thailand (with a CAGR of +60.4%), while the other global leaders experienced more modest paces of growth.

In value terms, China ($173M), Turkey ($153M) and the United States ($91M) constituted the countries with the highest levels of exports in 2024, together comprising 42% of global exports. Spain, Italy, Germany, Bosnia and Herzegovina, France, Bulgaria and Thailand lagged somewhat behind, together accounting for a further 36%.

Thailand, with a CAGR of +54.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2024, the average baking soda export price amounted to $399 per ton, which is down by -7.9% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 an increase of 23%. As a result, the export price attained the peak level of $439 per ton. From 2023 to 2024, the average export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($682 per ton), while China ($230 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Italy (+5.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform