GCC: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in GCC

For the fifth year in a row, the GCC prepared baking powder market recorded growth in sales value, which increased by 1.1% to $X in 2022. Overall, consumption posted prominent growth. The level of consumption peaked in 2022 and is likely to see steady growth in years to come.

Prepared Baking Powder Production in GCC

In value terms, prepared baking powder production surged to $X in 2022 estimated in export price. In general, production continues to indicate measured growth. The most prominent rate of growth was recorded in 2016 with an increase of 285% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Prepared Baking Powder Exports

Exports in GCC

In 2022, approx. X tons of prepared baking powders were exported in GCC; reducing by -15.6% compared with 2021. In general, exports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2016 with an increase of 58%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, prepared baking powder exports dropped markedly to $X in 2022. Over the period under review, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 149% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from the United Arab Emirates (X tons) and Saudi Arabia (X tons), together recording 99% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Saudi Arabia (with a CAGR of +11.6%).

In value terms, Saudi Arabia ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of exports in 2022.

In terms of the main exporting countries, Saudi Arabia, with a CAGR of +18.8%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, falling by -5.7% against the previous year. Export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +9.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, prepared baking powder export price increased by +21.7% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the export price increased by 107% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then contracted in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.9%).

Prepared Baking Powder Imports

Imports in GCC

In 2022, prepared baking powder imports in GCC dropped slightly to X tons, which is down by -3.9% on 2021. Overall, imports, however, saw strong growth. The growth pace was the most rapid in 2019 when imports increased by 47% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then contracted modestly in the following year.

In value terms, prepared baking powder imports shrank modestly to $X in 2022. In general, imports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2019 when imports increased by 29%. The level of import peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Saudi Arabia (X tons) represented the main importer of prepared baking powders, generating 74% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, followed by Oman (X tons). All these countries together held approx. 19% share of total imports. Kuwait (X tons) and Qatar (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to prepared baking powder imports into Saudi Arabia stood at +10.9%. At the same time, Kuwait (+17.3%), the United Arab Emirates (+13.1%) and Oman (+3.2%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +17.3% from 2012-2022. By contrast, Qatar (-4.9%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+7.2 p.p.), the United Arab Emirates (+3.1 p.p.) and Kuwait (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Oman (-5.9 p.p.) and Qatar (-6.7 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported prepared baking powders in GCC, comprising 65% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 16% share of total imports. It was followed by Oman, with an 8.3% share.

In Saudi Arabia, prepared baking powder imports increased at an average annual rate of +8.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+16.6% per year) and Oman (+5.0% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, leveling off at 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 2014 an increase of 5.1% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform