Dominican Republic: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in the Dominican Republic

The Dominican prepared baking powder market rose significantly to $X in 2022, with an increase of 10% against the previous year. The market value increased at an average annual rate of +4.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is likely to see steady growth in years to come.

Prepared Baking Powder Production in the Dominican Republic

In value terms, prepared baking powder production expanded markedly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 44%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Prepared Baking Powder Exports

Exports from the Dominican Republic

In 2022, prepared baking powder exports from the Dominican Republic dropped to X tons, falling by -9.2% against the previous year. In general, exports faced a abrupt shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 90% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, prepared baking powder exports stood at $X in 2022. Over the period under review, exports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2016 when exports increased by 141%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Haiti (X tons) was the main destination for prepared baking powder exports from the Dominican Republic, with a approx. 99% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Haiti amounted to -14.3%.

In value terms, Haiti ($X) also remains the key foreign market for prepared baking powders exports from the Dominican Republic.

From 2012 to 2022, the average annual rate of growth in terms of value to Haiti totaled -8.5%.

Export Prices by Country

In 2022, the average prepared baking powder export price amounted to $X per ton, rising by 15% against the previous year. Over the period under review, export price indicated a resilient increase from 2012 to 2022: its price 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, prepared baking powder export price increased by +41.0% against 2018 indices. The pace of growth appeared the most rapid in 2014 when the average export price increased by 36%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Haiti.

From 2012 to 2022, the rate of growth in terms of prices for Haiti amounted to +6.8% per year.

Prepared Baking Powder Imports

Imports into the Dominican Republic

In 2022, supplies from abroad of prepared baking powders increased by 28% to X tons, rising for the second consecutive year after three years of decline. Overall, imports recorded a prominent expansion. The growth pace was the most rapid in 2016 when imports increased by 76% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, prepared baking powder imports skyrocketed to $X in 2022. In general, imports enjoyed a pronounced expansion. The pace of growth was the most pronounced in 2016 when imports increased by 81% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Guatemala (X tons) constituted the largest prepared baking powder supplier to the Dominican Republic, with a 53% share of total imports. Moreover, prepared baking powder imports from Guatemala exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Guatemala totaled +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+42.4% per year) and the United States (+1.9% per year).

In value terms, the largest prepared baking powder suppliers to the Dominican Republic were Guatemala ($X), Mexico ($X) and the United States ($X), together accounting for 80% of total imports. China and Spain lagged somewhat behind, together accounting for a further 19%.

Among the main suppliers, China, with a CAGR of +72.2%, saw 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

The average prepared baking powder import price stood at $X per ton in 2022, which is down by -5.7% against the previous year. In general, the import price recorded a abrupt slump. The pace of growth was the most pronounced in 2018 an increase of 19% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, 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 Spain ($X per ton), while the price for Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+10.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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