Finland: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Finland

The Finnish prepared baking powder market soared to $X in 2022, with an increase of 58% against the previous year. Overall, consumption saw a slight increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Prepared Baking Powder Production in Finland

In value terms, prepared baking powder production surged to $X in 2022 estimated in export price. Over the period under review, production recorded a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of 147%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Prepared Baking Powder Exports

Exports from Finland

In 2022, overseas shipments of prepared baking powders increased by 12% to X tons, rising for the third year in a row after four years of decline. In general, exports, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2021 with an increase of 67% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, prepared baking powder exports skyrocketed to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 58% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Estonia (X tons) was the main destination for prepared baking powder exports from Finland, with a 92% share of total exports. Moreover, prepared baking powder exports to Estonia exceeded the volume sent to the second major destination, Sweden (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Estonia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-11.7% per year) and Russia (-43.7% per year).

In value terms, Estonia ($X) remains the key foreign market for prepared baking powders exports from Finland, comprising 89% of total exports. The second position in the ranking was held by Sweden ($X), with a 5.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia stood at +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-10.4% per year) and Russia (-40.0% per year).

Export Prices by Country

In 2022, the average prepared baking powder export price amounted to $X per ton, growing by 17% against the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 an increase of 20% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Sweden ($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 (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Baking Powder Imports

Imports into Finland

In 2022, supplies from abroad of prepared baking powders decreased by -5.3% to X tons, falling for the second year in a row after three years of growth. In general, imports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2018 with an increase of 30% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, prepared baking powder imports shrank modestly to $X in 2022. Over the period under review, imports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2018 with an increase of 34%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Sweden (X tons) constituted the largest prepared baking powder supplier to Finland, accounting for a 57% share of total imports. Moreover, prepared baking powder imports from Sweden exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was held by Hungary (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden amounted to +8.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+46.3% per year) and Hungary (-5.7% per year).

In value terms, Sweden ($X) constituted the largest supplier of prepared baking powders to Finland, comprising 54% of total imports. The second position in the ranking was taken by Hungary ($X), with a 15% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Sweden amounted to +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (-6.1% per year) and Italy (+2,845.9% per year).

Import Prices by Country

The average prepared baking powder import price stood at $X per ton in 2022, surging by 5.5% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 21%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+50.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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