U.S. - Baking Soda - Market Analysis, Forecast, Size, Trends And Insights
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View PricingMay 2023 Sees United States' Baking Soda Export Reaching An Average of $5.9M.
U.S. Baking Soda Exports
After two months of decline, overseas shipments of baking soda increased by 16% to 11K tons in May 2023. In general, exports, however, continue to indicate a slight curtailment. The growth pace was the most rapid in February 2023 with an increase of 23% m-o-m.
In value terms, baking soda exports dropped to $5.9M (IndexBox estimates) in May 2023. Over the period under review, exports, however, recorded a abrupt slump. The pace of growth appeared the most rapid in October 2022 with an increase of 35% month-to-month.
| COUNTRY | Export Value of Baking Soda in U.S. (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | |
| Canada | 3.3 | 3.8 | 2.2 | 2.9 | 3.3 | 3.6 | 4.4 | 4.9 | 4.2 | 3.8 | 4.1 | 2.7 | 3.3 |
| Mexico | 1.2 | 1.6 | 1.1 | 1.4 | 1.2 | 1.0 | 1.1 | 0.9 | 0.9 | 1.2 | 1.2 | 1.5 | 0.8 |
| Australia | 0.4 | 0.4 | 0.2 | < 0.1 | < 0.1 | 0.2 | 0.1 | 0.4 | < 0.1 | 0.3 | < 0.1 | < 0.1 | 0.2 |
| Philippines | 0.1 | 0.1 | N/A | < 0.1 | < 0.1 | < 0.1 | 0.1 | < 0.1 | < 0.1 | 0.1 | 0.5 | 0.2 | 0.2 |
| South Korea | 0.5 | 0.1 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.2 | 0.4 | 0.2 | 0.3 | 0.3 | < 0.1 |
| Others | 7.2 | 2.0 | 5.6 | 2.3 | 4.2 | 6.9 | 5.4 | 1.1 | 1.2 | 1.3 | 1.2 | 1.1 | 1.4 |
| Total | 12.8 | 8.0 | 9.3 | 6.8 | 8.9 | 12.1 | 11.5 | 7.6 | 6.7 | 7.0 | 7.5 | 5.9 | 5.9 |
Exports by Country
Canada (7.8K tons) was the main destination for baking soda exports from the United States, accounting for a 72% share of total exports. Moreover, baking soda exports to Canada exceeded the volume sent to the second major destination, Mexico (1.3K tons), sixfold. The third position in this ranking was held by the Philippines (220 tons), with a 2.1% share.
From May 2022 to May 2023, the average monthly rate of growth in terms of volume to Canada stood at +2.4%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Mexico (-7.0% per month) and the Philippines (-1.0% per month).
In value terms, Canada ($3.3M) remains the key foreign market for baking soda exports from the United States, comprising 56% of total exports. The second position in the ranking was held by Mexico ($762K), with a 13% share of total exports. It was followed by the Philippines, with a 2.6% share.
From May 2022 to May 2023, the average monthly rate of growth in terms of value to Canada was relatively modest. Exports to the other major destinations recorded the following average monthly rates of exports growth: Mexico (-3.6% per month) and the Philippines (+0.9% per month).
Export Prices by Country
In May 2023, the baking soda price stood at $547 per ton (FOB, US), waning by -13.6% against the previous month. Over the period under review, the export price continues to indicate a noticeable decline. The most prominent rate of growth was recorded in July 2022 when the average export price increased by 71% month-to-month. The export price peaked at $1,141 per ton in October 2022; however, from November 2022 to May 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In May 2023, the country with the highest price was Australia ($777 per ton), while the average price for exports to Canada ($424 per ton) was amongst the lowest.
From May 2022 to May 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+3.6%), while the prices for the other major destinations experienced mixed trend patterns.
This report provides an in-depth analysis of the baking soda market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20134320 - Sodium hydrogencarbonate (sodium bicarbonate)
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
