Denmark: Baking Soda Market 2024

Baking Soda Market Size in Denmark

After four years of growth, the Danish baking soda market decreased by -5.4% to $X in 2021. Overall, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Baking soda consumption peaked at $X in 2020, and then reduced in the following year.

Baking Soda Production in Denmark

In value terms, baking soda production declined modestly to $X in 2021 estimated in export price. Overall, production enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 56% against the previous year. Baking soda production peaked at $X in 2020, and then fell in the following year.

Baking Soda Exports

Exports from Denmark

In 2021, the amount of baking soda exported from Denmark reduced sharply to X tons, dropping by -25% against the year before. Overall, exports, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2020 when exports increased by 156%. As a result, the exports attained the peak of X tons, and then contracted dramatically in the following year.

In value terms, baking soda exports reduced to $X in 2021. In general, exports, however, saw prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of 68% against the previous year. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

Sweden (X tons) was the main destination for baking soda exports from Denmark, with a 48% share of total exports. Moreover, baking soda exports to Sweden exceeded the volume sent to the second major destination, Iceland (X tons), twofold. The third position in this ranking was taken by Norway (X tons), with a 21% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden stood at +16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iceland (+77.0% per year) and Norway (+11.0% per year).

In value terms, Sweden ($X), Norway ($X) and Iceland ($X) were the largest markets for baking soda exported from Denmark worldwide, together comprising 83% of total exports.

Iceland, with a CAGR of +60.5%, saw the highest rates of growth with regard to the value of exports, among 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

The average baking soda export price stood at $X per ton in 2021, with an increase of 27% against the previous year. Overall, the export price, however, continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2015 an increase of 42%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 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 Germany ($X per ton), while the average price for exports to Iceland ($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 Norway (+2.3%), while the prices for the other major destinations experienced mixed trend patterns.

Baking Soda Imports

Imports into Denmark

In 2021, overseas purchases of baking soda decreased by -5.8% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 22% against the previous year. Imports peaked at X tons in 2020, and then reduced in the following year.

In value terms, baking soda imports dropped to $X in 2021. In general, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -13.9% against 2019 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 31% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), Russia (X tons) and Finland (X tons) were the main suppliers of baking soda imports to Denmark, together comprising 79% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +488.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of baking soda to Denmark, comprising 42% of total imports. The second position in the ranking was taken by Russia ($X), with a 17% share of total imports. It was followed by Poland, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+512.2% per year) and Poland (+110.8% per year).

Import Prices by Country

The average baking soda import price stood at $X per ton in 2021, falling by -3% against the previous year. Over the period under review, the import price recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2019 an increase of 20%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 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 Sweden ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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