EU: Baking Soda Market 2024

Baking Soda Market Size in the EU

In 2021, after five years of growth, there was significant decline in the EU baking soda market, when its value decreased by -7.5% to $X. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2020, and then declined in the following year.

Baking Soda Production in the EU

In value terms, baking soda production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 39% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Baking Soda Exports

Exports in the EU

In 2021, approx. X tons of baking soda were exported in the European Union; rising by 24% against the previous year's figure. Total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +70.2% against 2016 indices. The pace of growth appeared the most rapid in 2017 with an increase of 27% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, baking soda exports soared to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +66.9% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany was the main exporting country with an export of around X tons, which amounted to 42% of total exports. Spain (X tons) ranks second in terms of the total exports with a 24% share, followed by France (13%) and Belgium (12%). The following exporters - Bulgaria (X tons), the Netherlands (X tons) and Portugal (X tons) - each amounted to a 5.8% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Belgium (with a CAGR of +15.9%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Spain ($X) and France ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 74% of total exports. These countries were followed by Belgium, the Netherlands, Portugal and Bulgaria, which together accounted for a further 16%.

In terms of the main exporting countries, Belgium, with a CAGR of +19.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, with a decrease of -1.8% against the previous year. Over the period under review, the export price continues to indicate a mild contraction. The pace of growth was the most pronounced in 2016 an increase of 6.8% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+3.3%), while the other leaders experienced more modest paces of growth.

Baking Soda Imports

Imports in the EU

In 2021, the amount of baking soda imported in the European Union rose remarkably to X tons, with an increase of 5.1% compared with the previous year's figure. Over the period under review, imports continue to indicate a strong expansion. The growth pace was the most rapid in 2018 with an increase of 25%. The volume of import peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, baking soda imports rose markedly to $X in 2021. In general, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2018 when imports increased by 21% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Imports by Country

The purchases of the six major importers of baking soda, namely France, Belgium, Germany, Italy, the Netherlands and Spain, represented more than two-thirds of total import. The following importers - Poland (X tons), Portugal (X tons), Austria (X tons), Denmark (X tons), Hungary (X tons), the Czech Republic (X tons) and Sweden (X tons) - together made up 17% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Portugal (with a CAGR of +25.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Belgium ($X) and Germany ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 46% share of total imports. The Netherlands, Italy, Spain, Poland, Portugal, Austria, Denmark, Sweden, the Czech Republic and Hungary lagged somewhat behind, together accounting for a further 44%.

Among the main importing countries, Portugal, with a CAGR of +19.7%, saw the highest growth rate of 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

In 2021, the import price in the European Union amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 11%. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Sweden ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :