Belgium: Baking Soda Market 2024

Baking Soda Market Size in Belgium

The Belgian baking soda market soared to $X in 2021, growing by 33% against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Baking Soda Production in Belgium

In value terms, baking soda production totaled $X in 2021 estimated in export price. In general, production faced a abrupt contraction. The pace of growth was the most pronounced in 2013 when the production volume increased by 61% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Baking Soda Exports

Exports from Belgium

In 2021, shipments abroad of baking soda increased by 9.7% to X tons, rising for the third consecutive year after four years of decline. Overall, exports showed a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 526% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, baking soda exports skyrocketed to $X in 2021. In general, exports showed a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by 350% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The Netherlands (X tons), Germany (X tons) and France (X tons) were the main destinations of baking soda exports from Belgium, with a combined 94% share of total exports. Italy and Luxembourg lagged somewhat behind, together comprising a further 2.1%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +110.7%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and France ($X) were the largest markets for baking soda exported from Belgium worldwide, with a combined 83% share of total exports. Italy and Luxembourg lagged somewhat behind, together comprising a further 8.2%.

In terms of the main countries of destination, Italy, with a CAGR of +104.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average baking soda export price amounted to $X per ton, picking up by 7.8% against the previous year. In general, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, baking soda export price decreased by -22.5% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 34%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Luxembourg (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Baking Soda Imports

Imports into Belgium

Baking soda imports into Belgium rose sharply to X tons in 2021, with an increase of 11% against the previous year's figure. Over the period under review, imports posted a remarkable increase. The growth pace was the most rapid in 2020 when imports increased by 148% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, baking soda imports surged to $X in 2021. In general, imports enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 124%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of baking soda to Belgium, with a 55% share of total imports. Moreover, baking soda imports from Turkey exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey stood at +34.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+7.6% per year) and Germany (+5.8% per year).

In value terms, Turkey ($X), France ($X) and the UK ($X) were the largest baking soda suppliers to Belgium, together comprising 67% of total imports. These countries were followed by Germany, the Netherlands, Russia and Bosnia and Herzegovina, which together accounted for a further 17%.

Bosnia and Herzegovina, with a CAGR of +60.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average baking soda import price amounted to $X per ton, surging by 7.4% against the previous year. Overall, the import price, however, continues to indicate a slight shrinkage. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Netherlands ($X per ton), while the price for Russia ($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 UK (+0.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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