Brazil: Baking Soda Market 2024

Baking Soda Market Size in Brazil

In 2021, after two years of growth, there was decline in the Brazilian baking soda market, when its value decreased by -2.6% to $X. The market value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Baking soda consumption peaked at $X in 2020, and then shrank slightly in the following year.

Baking Soda Production in Brazil

In value terms, baking soda production declined to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 8.7% against the previous year. Baking soda production peaked at $X in 2020, and then contracted in the following year.

Baking Soda Exports

Exports from Brazil

In 2021, shipments abroad of baking soda decreased by -13.9% to X tons, falling for the third consecutive year after two years of growth. In general, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 48% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, baking soda exports dropped to $X in 2021. Over the period under review, exports faced a abrupt decrease. The pace of growth appeared the most rapid in 2017 with an increase of 32% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Argentina (X tons) was the main destination for baking soda exports from Brazil, accounting for a 82% share of total exports. Moreover, baking soda exports to Argentina exceeded the volume sent to the second major destination, Uruguay (X tons), ninefold. The third position in this ranking was held by Bolivia (X tons), with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Argentina totaled -13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (-4.8% per year) and Bolivia (-6.4% per year).

In value terms, Argentina ($X) remains the key foreign market for baking soda exports from Brazil, comprising 77% of total exports. The second position in the ranking was taken by Uruguay ($X), with a 9.4% share of total exports. It was followed by Bolivia, with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Argentina amounted to -13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (-7.3% per year) and Bolivia (-5.7% per year).

Export Prices by Country

The average baking soda export price stood at $X per ton in 2021, almost unchanged from the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 6.8% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

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 Paraguay ($X per ton), while the average price for exports to Argentina ($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 Paraguay (+6.3%), while the prices for the other major destinations experienced mixed trend patterns.

Baking Soda Imports

Imports into Brazil

In 2021, after five years of growth, there was significant decline in purchases abroad of baking soda, when their volume decreased by -14.2% to X tons. Overall, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2013 when imports increased by 146%. Over the period under review, imports attained the peak figure at X tons in 2020, and then declined in the following year.

In value terms, baking soda imports reduced to $X in 2021. In general, imports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2013 when imports increased by 127%. Over the period under review, imports reached the peak figure at $X in 2020, and then declined in the following year.

Imports by Country

Germany (X tons), Spain (X tons) and Turkey (X tons) were the main suppliers of baking soda imports to Brazil, together accounting for 72% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +85.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of baking soda to Brazil, comprising 42% of total imports. The second position in the ranking was held by Spain ($X), with a 20% share of total imports. It was followed by Turkey, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +28.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+14.8% per year) and Turkey (+85.1% per year).

Import Prices by Country

In 2021, the average baking soda import price amounted to $X per ton, picking up by 6.9% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 15% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat 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 United States ($X per ton), while the price for Russia ($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 (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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