Europe: Baking Soda Market 2024

Baking Soda Market Size in Europe

After five years of growth, the Europe baking soda market decreased by -1.5% to $X in 2021. The market value increased at an average annual rate of +4.6% 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 2020, and then contracted slightly in the following year.

Baking Soda Production in Europe

In value terms, baking soda production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 27% against the previous year. As a result, production attained the peak level of $X; afterwards, it flattened through to 2021.

Baking Soda Exports

Exports in Europe

In 2021, the amount of baking soda exported in Europe soared to X tons, picking up by 22% on the year before. Total exports indicated prominent growth 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 +107.3% against 2012 indices. The growth pace was the most rapid in 2017 when exports increased by 23%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, baking soda exports skyrocketed to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.1% 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 +63.8% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Germany (X tons), distantly followed by Spain (X tons), Russia (X tons), France (X tons), Bosnia and Herzegovina (X tons) and Belgium (X tons) represented the major exporters of baking soda, together making up 89% of total exports. The UK (X tons) held a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +15.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Spain ($X) and France ($X) were the countries with the highest levels of exports in 2021, together accounting for 61% of total exports. These countries were followed by Belgium, Russia, Bosnia and Herzegovina and the UK, which together accounted for a further 26%.

In terms of the main exporting countries, Belgium, with a CAGR of +19.7%, recorded the highest growth rate of 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 Europe stood at $X per ton in 2021, falling by -2.8% against the previous year. Over the period under review, the export price showed a slight reduction. The pace of growth appeared the most rapid in 2013 an increase of 6.3%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

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

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

Baking Soda Imports

Imports in Europe

In 2021, the amount of baking soda imported in Europe rose modestly to X tons, picking up by 3% compared with the previous year. In general, imports saw a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 23% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, baking soda imports stood at $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +60.5% against 2014 indices. The pace of growth was the most pronounced in 2018 with an increase of 19% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

The countries with the highest levels of baking soda imports in 2021 were France (X tons), Belgium (X tons), Germany (X tons), Italy (X tons), the Netherlands (X tons) and Spain (X tons), together finishing at 68% of total import. The following importers - Poland (X tons), Portugal (X tons), Ukraine (X tons), Austria (X tons), Denmark (X tons), Hungary (X tons) and the Czech Republic (X tons) - together made up 17% of total imports.

From 2012 to 2021, the biggest increases were recorded for Portugal (with a CAGR of +25.5%), while purchases 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 40% share of total imports. The Netherlands, Italy, Spain, Poland, Ukraine, Portugal, Austria, Denmark, the Czech Republic and Hungary lagged somewhat behind, together accounting for a further 39%.

Among the main importing countries, Portugal, with a CAGR of +19.7%, recorded 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

In 2021, the import price in Europe amounted to $X per ton, with an increase of 1.5% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded 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 Ukraine ($X per ton), while Spain ($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