Eastern Europe: Baking Soda Market 2024

Baking Soda Market Size in Eastern Europe

The East European baking soda market fell to $X in 2021, with a decrease of -8.7% against the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Baking Soda Production in Eastern Europe

In value terms, baking soda production contracted sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by 20% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Baking Soda Exports

Exports in Eastern Europe

In 2021, the amount of baking soda exported in Eastern Europe surged to X tons, growing by 39% on 2020 figures. In general, exports showed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, baking soda exports surged to $X in 2021. Overall, exports recorded strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia represented the major exporter of baking soda in Eastern Europe, with the volume of exports recording X tons, which was approx. 82% of total exports in 2021. It was distantly followed by Bulgaria (X tons), committing a 10% share of total exports. Poland (X tons) and Hungary (X tons) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to baking soda exports from Russia stood at +12.9%. At the same time, Hungary (+16.2%) and Poland (+15.1%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +16.2% from 2012-2021. Bulgaria experienced a relatively flat trend pattern. Russia (+12 p.p.) and Poland (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while Bulgaria saw its share reduced by -15.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest baking soda supplier in Eastern Europe, comprising 64% of total exports. The second position in the ranking was held by Poland ($X), with a 10% share of total exports. It was followed by Bulgaria, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Russia amounted to +8.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (+17.7% per year) and Bulgaria (+0.7% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, with a decrease of -13.6% against the previous year. In general, the export price recorded a perceptible downturn. The most prominent rate of growth was recorded in 2013 when the export price increased by 23% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+2.3%), while the other leaders experienced mixed trends in the export price figures.

Baking Soda Imports

Imports in Eastern Europe

In 2021, overseas purchases of baking soda decreased by -7.5% to X tons for the first time since 2014, thus ending a six-year rising trend. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +85.3% against 2014 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 30%. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, baking soda imports fell to $X in 2021. Overall, imports, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2020 when imports increased by 36% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

The countries with the highest levels of baking soda imports in 2021 were Poland (X tons), Ukraine (X tons), Hungary (X tons), the Czech Republic (X tons), Slovakia (X tons), Belarus (X tons), Russia (X tons), Romania (X tons) and Lithuania (X tons), together finishing at 94% of total import.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +33.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Poland ($X) and Ukraine ($X) constituted the countries with the highest levels of imports in 2021, together comprising 52% of total imports.

Russia, with a CAGR of +35.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, rising by 7.7% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 9.8%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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