Chile: Baking Soda Market 2024

Baking Soda Market Size in Chile

The Chilean baking soda market surged to $X in 2021, growing by 17% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed a prominent increase. Baking soda consumption peaked in 2021 and is expected to retain growth in the immediate term.

Baking Soda Exports

Exports from Chile

In 2021, shipments abroad of baking soda was finally on the rise to reach X tons after three years of decline. Overall, exports, however, showed a deep slump. The pace of growth was the most pronounced in 2014 when exports increased by 304% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, baking soda exports surged to $X in 2021. In general, exports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 358%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X tons), China (X tons) and Colombia (X kg) were the main destinations of baking soda exports from Chile, together accounting for 96% of total exports. These countries were followed by Peru, which accounted for a further 4.5%.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +56.4%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the Dominican Republic ($X), China ($X) and Peru ($X) appeared to be the largest markets for baking soda exported from Chile worldwide, together accounting for 99% of total exports.

Among the main countries of destination, Peru, with a CAGR of +29.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average baking soda export price stood at $X per ton in 2021, dropping by -18.5% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 104% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Colombia ($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 Ecuador (+38.2%), while the prices for the other major destinations experienced mixed trend patterns.

Baking Soda Imports

Imports into Chile

In 2021, approx. X tons of baking soda were imported into Chile; picking up by 11% against 2020. Overall, imports continue to indicate strong growth. The growth pace was the most rapid in 2017 when imports increased by 69% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, baking soda imports surged to $X in 2021. Over the period under review, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by 87% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of baking soda to Chile, accounting for a 54% share of total imports. Moreover, baking soda imports from Spain exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The third position in this ranking was taken by Russia (X tons), with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at +35.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+12.1% per year) and Russia (+53.5% per year).

In value terms, Spain ($X) constituted the largest supplier of baking soda to Chile, comprising 46% of total imports. The second position in the ranking was held by Germany ($X), with a 15% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Spain stood at +41.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+23.5% per year) and the United States (+67.0% per year).

Import Prices by Country

In 2021, the average baking soda import price amounted to $X per ton, rising by 7.6% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, baking soda import price increased by +67.9% against 2013 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 16%. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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