Eastern Asia: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Eastern Asia

The East Asian prepared baking powder market rose slightly to $X in 2022, growing by 3.5% against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Prepared Baking Powder Production in Eastern Asia

In value terms, prepared baking powder production totaled $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 remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the production volume increased by 19%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Prepared Baking Powder Exports

Exports in Eastern Asia

In 2022, shipments abroad of prepared baking powders decreased by -24.6% to X tons for the first time since 2018, thus ending a three-year rising trend. Total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 73% against the previous year. The volume of export peaked at X tons in 2021, and then declined notably in the following year.

In value terms, prepared baking powder exports shrank to $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +12.6% against 2017 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 43% against the previous year. The level of export peaked at $X in 2021, and then contracted in the following year.

Exports by Country

The biggest shipments were from China (X tons), together accounting for 97% of total export.

China was also the fastest-growing in terms of the prepared baking powders exports, with a CAGR of +5.9% from 2012 to 2022. China (+6.2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest prepared baking powder supplier in Eastern Asia.

In China, prepared baking powder exports increased at an average annual rate of +7.7% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, surging by 24% against the previous year. In general, the export price recorded a slight expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +1.7% per year.

Prepared Baking Powder Imports

Imports in Eastern Asia

Prepared baking powder imports contracted modestly to X tons in 2022, therefore, remained relatively stable against 2021. Overall, imports recorded a perceptible downturn. The most prominent rate of growth was recorded in 2014 with an increase of 16% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, prepared baking powder imports rose remarkably to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 20%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Japan (X tons), distantly followed by South Korea (X tons), Hong Kong SAR (X tons), Taiwan (Chinese) (X tons) and Macao SAR (X tons) were the main importers of prepared baking powders, together achieving 98% of total imports. China (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +5.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported prepared baking powders in Eastern Asia, comprising 40% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 19% share of total imports. It was followed by South Korea, with a 17% share.

In Japan, prepared baking powder imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (-4.6% per year) and South Korea (+9.1% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, with an increase of 8.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2018 an increase of 21%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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