Australia: Baking Soda Market 2024

Baking Soda Market Size in Australia

In 2021, the Australian baking soda market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption posted a significant expansion. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in the immediate term.

Baking Soda Exports

Exports from Australia

For the third year in a row, Australia recorded decline in shipments abroad of baking soda, which decreased by -32.5% to X tons in 2021. Overall, exports, however, recorded a perceptible expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 122%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, baking soda exports dropped sharply to $X in 2021. In general, exports, however, recorded a prominent expansion. The growth pace was the most rapid in 2018 when exports increased by 150%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

New Zealand (X tons), Papua New Guinea (X tons) and New Caledonia (X tons) were the main destinations of baking soda exports from Australia, with a combined 74% share of total exports. Solomon Islands, Hong Kong SAR, Fiji and Thailand lagged somewhat behind, together accounting for a further 24%.

From 2015 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +209.6%), while the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X) remains the key foreign market for baking soda exports from Australia, comprising 41% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 15% share of total exports. It was followed by Papua New Guinea, with a 13% share.

From 2015 to 2021, the average annual rate of growth in terms of value to New Zealand stood at +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+207.9% per year) and Papua New Guinea (+22.4% per year).

Export Prices by Country

In 2021, the average baking soda export price amounted to $X per ton, picking up by 18% against the previous year. Over the period under review, export price indicated a buoyant increase from 2015 to 2021: its price increased at an average annual rate of +5.4% over the last six-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, baking soda export price decreased by -27.1% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 40% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Fiji ($X per ton) was amongst the lowest.

From 2015 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+590.6%), while the prices for the other major destinations experienced more modest paces of growth.

Baking Soda Imports

Imports into Australia

In 2021, approx. X tons of baking soda were imported into Australia; surging by 7.3% on 2020. Overall, imports showed a significant expansion. The growth pace was the most rapid in 2014 with an increase of 471%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, baking soda imports soared to $X in 2021. Over the period under review, imports showed a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 442%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of baking soda to Australia, accounting for a 60% share of total imports. Moreover, baking soda imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold. Singapore (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +22.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+159.2% per year) and Singapore (+145.5% per year).

In value terms, China ($X) constituted the largest supplier of baking soda to Australia, comprising 59% of total imports. The second position in the ranking was held by Singapore ($X), with a 16% share of total imports. It was followed by Turkey, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+110.7% per year) and Turkey (+159.6% per year).

Import Prices by Country

In 2021, the average baking soda import price amounted to $X per ton, increasing by 24% against the previous year. In general, the import price, however, continues to indicate a perceptible slump. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+9.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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