Croatia: Baking Soda Market 2024

Baking Soda Market Size in Croatia

For the sixth year in a row, the Croatian baking soda market recorded growth in sales value, which increased by 14% to $X in 2021. Over the period under review, consumption posted resilient growth. Over the period under review, the market reached the maximum level in 2021 and is likely to see gradual growth in the near future.

Baking Soda Production in Croatia

In value terms, baking soda production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 163%. Baking soda production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Baking Soda Exports

Exports from Croatia

After three years of growth, shipments abroad of baking soda decreased by -7.1% to X tons in 2021. Over the period under review, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 126%. The exports peaked at X tons in 2020, and then dropped in the following year.

In value terms, baking soda exports contracted significantly to $X in 2021. Overall, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -17.3% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 43%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Slovenia (X tons), Bosnia and Herzegovina (X tons) and Serbia (X tons) were the main destinations of baking soda exports from Croatia, with a combined 93% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Serbia (with a CAGR of +88.2%), while the other leaders experienced more modest paces of growth.

In value terms, Bosnia and Herzegovina ($X), Slovenia ($X) and Montenegro ($X) appeared to be the largest markets for baking soda exported from Croatia worldwide, together accounting for 88% of total exports. Serbia lagged somewhat behind, comprising a further 1.2%.

Serbia, with a CAGR of +57.4%, saw the highest growth rate of the value of exports, in terms of the main countries of destination 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, declining by -9.4% against the previous year. Overall, the export price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of 14%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Serbia ($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 Montenegro (-2.6%), while the prices for the other major destinations experienced a decline.

Baking Soda Imports

Imports into Croatia

For the tenth year in a row, Croatia recorded growth in purchases abroad of baking soda, which increased by 14% to X tons in 2021. In general, imports showed a prominent increase. The pace of growth was the most pronounced in 2018 when imports increased by 16% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, baking soda imports expanded remarkably to $X in 2021. Over the period under review, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 19% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Bosnia and Herzegovina (X tons), Italy (X tons) and Poland (X tons) were the main suppliers of baking soda imports to Croatia, with a combined 83% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +71.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest baking soda suppliers to Croatia were Italy ($X), Bosnia and Herzegovina ($X) and Poland ($X), together accounting for 76% of total imports.

Among the main suppliers, Poland, with a CAGR of +73.4%, recorded the highest rates of growth with regard to the value of imports, 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, approximately reflecting the previous year. Over the period under review, the import price showed a slight setback. The pace of growth was the most pronounced in 2019 when the average import price increased by 5.3% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+18.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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