ASEAN: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in ASEAN

The ASEAN prepared baking powder market expanded slightly to $X in 2022, with an increase of 3.1% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Prepared Baking Powder Production in ASEAN

In value terms, prepared baking powder production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 26% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Prepared Baking Powder Exports

Exports in ASEAN

In 2022, shipments abroad of prepared baking powders decreased by -8.6% to X tons, falling for the second consecutive year after five years of growth. Over the period under review, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 74%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, prepared baking powder exports expanded to $X in 2022. Overall, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 42%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Exports by Country

Thailand represented the major exporter of prepared baking powders in ASEAN, with the volume of exports accounting for X tons, which was approx. 71% of total exports in 2022. Malaysia (X tons) held the second position in the ranking, distantly followed by Singapore (X tons). All these countries together took approx. 27% share of total exports.

Thailand was also the fastest-growing in terms of the prepared baking powders exports, with a CAGR of +23.5% from 2012 to 2022. At the same time, Singapore (+3.0%) displayed positive paces of growth. By contrast, Malaysia (-2.8%) illustrated a downward trend over the same period. Thailand (+52 p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Malaysia saw its share reduced by -5.7% and -38.6% from 2012 to 2022, respectively.

In value terms, Thailand ($X) remains the largest prepared baking powder supplier in ASEAN, comprising 55% of total exports. The second position in the ranking was held by Singapore ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand amounted to +15.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (+10.4% per year) and Malaysia (-1.0% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, picking up by 14% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by 18%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+7.2%), while the other leaders experienced mixed trends in the export price figures.

Prepared Baking Powder Imports

Imports in ASEAN

In 2022, purchases abroad of prepared baking powders decreased by -9.1% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2019 with an increase of 39%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, prepared baking powder imports dropped to $X in 2022. Over the period under review, imports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2020 with an increase of 27% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then fell in the following year.

Imports by Country

The Philippines represented the largest importing country with an import of around X tons, which accounted for 49% of total imports. Indonesia (X tons) took the second position in the ranking, distantly followed by Singapore (X tons). All these countries together took approx. 37% share of total imports. Malaysia (X tons), Vietnam (X tons), Myanmar (X tons) and Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +48.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest prepared baking powder importing markets in ASEAN were Indonesia ($X), the Philippines ($X) and Singapore ($X), together comprising 88% of total imports.

The Philippines, with a CAGR of +41.3%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, with a decrease of -5% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 19%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform