Australia: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Australia

The Australian prepared baking powder market rose slightly to $X in 2022, increasing by 4.6% against the previous year. In general, consumption posted a perceptible increase. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Prepared Baking Powder Production in Australia

In value terms, prepared baking powder production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.9% against 2020 indices. The growth pace was the most rapid in 2019 when the production volume increased by 31%. Prepared baking powder production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Prepared Baking Powder Exports

Exports from Australia

In 2022, after two years of growth, there was significant decline in overseas shipments of prepared baking powders, when their volume decreased by -33.1% to X tons. Over the period under review, exports saw a abrupt downturn. The growth pace was the most rapid in 2013 with an increase of 33%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, prepared baking powder exports contracted significantly to $X in 2022. Overall, exports recorded a deep reduction. The growth pace was the most rapid in 2016 when exports increased by 52% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

New Zealand (X tons) was the main destination for prepared baking powder exports from Australia, with a 51% share of total exports. Moreover, prepared baking powder exports to New Zealand exceeded the volume sent to the second major destination, Papua New Guinea (X tons), twofold. New Caledonia (X tons) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2022, the average annual growth rate of volume to New Zealand totaled -9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (-11.8% per year) and New Caledonia (+1.6% per year).

In value terms, New Zealand ($X) remains the key foreign market for prepared baking powders exports from Australia, comprising 55% of total exports. The second position in the ranking was held by Papua New Guinea ($X), with a 15% share of total exports. It was followed by New Caledonia, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand stood at -4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Papua New Guinea (-11.1% per year) and New Caledonia (+0.9% per year).

Export Prices by Country

In 2022, the average prepared baking powder export price amounted to $X per ton, declining by -9.8% against the previous year. Overall, export price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, prepared baking powder export price increased by +47.8% against 2015 indices. The most prominent rate of growth was recorded in 2019 when the average export price increased by 23% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Baking Powder Imports

Imports into Australia

Prepared baking powder imports into Australia fell to X tons in 2022, which is down by -13% against the year before. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 48%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, prepared baking powder imports skyrocketed to $X in 2022. In general, imports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2013 when imports increased by 42%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest prepared baking powder supplier to Australia, accounting for a 72% share of total imports. Moreover, prepared baking powder imports from Malaysia exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X tons), tenfold. The third position in this ranking was held by Singapore (X tons), with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia amounted to +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+4.7% per year) and Singapore (+24.2% per year).

In value terms, Malaysia ($X) constituted the largest supplier of prepared baking powders to Australia, comprising 70% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 6.8% share of total imports. It was followed by Singapore, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia stood at +16.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+2.8% per year) and Singapore (+29.1% per year).

Import Prices by Country

In 2022, the average prepared baking powder import price amounted to $X per ton, surging by 33% against the previous year. In general, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :