Canada: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Canada

The Canadian prepared baking powder market skyrocketed to $X in 2022, with an increase of 21% against the previous year. The market value increased at an average annual rate of +4.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Prepared baking powder consumption peaked in 2022 and is expected to retain growth in the immediate term.

Prepared Baking Powder Production in Canada

In value terms, prepared baking powder production contracted sharply to $X in 2022 estimated in export price. Overall, production, however, posted a modest expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 49%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Prepared Baking Powder Exports

Exports from Canada

In 2022, the amount of prepared baking powders exported from Canada dropped significantly to X tons, which is down by -56% compared with the previous year. Over the period under review, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 50% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, prepared baking powder exports shrank rapidly to $X in 2022. Overall, exports saw a abrupt decline. The growth pace was the most rapid in 2016 when exports increased by 61%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for prepared baking powder exports from Canada, accounting for a 47% share of total exports. Moreover, prepared baking powder exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), fourfold. The third position in this ranking was held by Barbados (X tons), with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to -4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-5.1% per year) and Barbados (+0.5% per year).

In value terms, the United States ($X) remains the key foreign market for prepared baking powders exports from Canada, comprising 75% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 4.9% share of total exports. It was followed by Barbados, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-7.5% per year) and Barbados (-2.0% per year).

Export Prices by Country

The average prepared baking powder export price stood at $X per ton in 2022, increasing by 53% against the previous year. Over the period under review, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +3.2% 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 +117.4% against 2015 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Anguilla ($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 Dominica (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Baking Powder Imports

Imports into Canada

In 2022, prepared baking powder imports into Canada reached X tons, growing by 6.3% compared with the year before. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 20%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, prepared baking powder imports surged to $X in 2022. Overall, total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.0% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) was the main supplier of prepared baking powder to Canada, accounting for a 96% share of total imports. It was followed by Mexico (X tons), with a 2.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States was relatively modest.

In value terms, the United States ($X) constituted the largest supplier of prepared baking powders to Canada, comprising 96% of total imports. The second position in the ranking was taken by Mexico ($X), with a 1.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +5.0%.

Import Prices by Country

In 2022, the average prepared baking powder import price amounted to $X per ton, picking up by 21% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably 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 Mexico totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.8%).

Source: IndexBox Platform

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