Estonia: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Estonia

The Estonian prepared baking powder market skyrocketed to $X in 2022, growing by 129% against the previous year. In general, consumption, however, continues to indicate a perceptible slump. Prepared baking powder consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Prepared Baking Powder Production in Estonia

In value terms, prepared baking powder production soared to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a noticeable expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Prepared Baking Powder Exports

Exports from Estonia

Prepared baking powder exports from Estonia skyrocketed to X tons in 2022, growing by 21% compared with the previous year. The total export volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, prepared baking powder exports surged to $X in 2022. In general, total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% 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 +145.1% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Sweden (X tons) was the main destination for prepared baking powder exports from Estonia, with a 87% share of total exports. Moreover, prepared baking powder exports to Sweden exceeded the volume sent to the second major destination, Latvia (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Sweden stood at +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+3.8% per year) and Lithuania (+22.2% per year).

In value terms, Sweden ($X) remains the key foreign market for prepared baking powders exports from Estonia, comprising 75% of total exports. The second position in the ranking was held by Latvia ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden totaled +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+6.1% per year) and Lithuania (+15.5% per year).

Export Prices by Country

In 2022, the average prepared baking powder export price amounted to $X per ton, increasing by 23% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Latvia ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+3.8%), while the prices for the other major destinations experienced mixed trend patterns.

Prepared Baking Powder Imports

Imports into Estonia

In 2022, imports of prepared baking powders into Estonia fell to X tons, declining by -7.8% against the previous year's figure. Over the period under review, imports saw a perceptible slump. The pace of growth appeared the most rapid in 2019 when imports increased by 41% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, prepared baking powder imports reduced slightly to $X in 2022. In general, imports saw a noticeable curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by 36% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Finland (X tons), Lithuania (X tons) and Sweden (X tons) were the main suppliers of prepared baking powder imports to Estonia, with a combined 79% share of total imports. Poland, Latvia, Denmark, Hungary, Germany and the UK lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +37.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Finland ($X) constituted the largest supplier of prepared baking powders to Estonia, comprising 40% of total imports. The second position in the ranking was taken by Sweden ($X), with an 18% share of total imports. It was followed by Lithuania, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Finland stood at +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-4.5% per year) and Lithuania (+8.4% per year).

Import Prices by Country

The average prepared baking powder import price stood at $X per ton in 2022, with an increase of 4.7% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 17% against the previous year. The import price peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform