Ghana: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Ghana

The Ghanian prepared baking powder market totaled $X in 2022, increasing by 8.9% against the previous year. Overall, consumption showed a prominent expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Prepared Baking Powder Production in Ghana

In value terms, prepared baking powder production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 157% against the previous year. Prepared baking powder production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Prepared Baking Powder Exports

Exports from Ghana

In 2022, the amount of prepared baking powders exported from Ghana contracted notably to X kg, reducing by -45.5% compared with the year before. Overall, exports saw a dramatic slump. The pace of growth appeared the most rapid in 2021 with an increase of 1,000%. 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 dropped remarkably to $X in 2022. Over the period under review, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of 1,507% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X kg) was the main destination for prepared baking powder exports from Ghana, with a 67% share of total exports. Moreover, prepared baking powder exports to the United States exceeded the volume sent to the second major destination, Niger (X kg), twofold.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at -67.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (0.0% per year) and Canada (-12.9% per year).

In value terms, the United States ($X), Niger ($X) and Canada ($X) appeared to be the largest markets for prepared baking powder exported from Ghana worldwide.

Niger, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average prepared baking powder export price stood at $X per ton in 2022, dropping by -1.9% against the previous year. Over the period under review, the export price, however, recorded a strong increase. The most prominent rate of growth was recorded in 2020 an increase of 232%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Niger ($X per ton), while the average price for exports to Canada ($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 the United States (+57.4%), while the prices for the other major destinations experienced a decline.

Prepared Baking Powder Imports

Imports into Ghana

In 2022, prepared baking powder imports into Ghana expanded remarkably to X tons, picking up by 9.1% compared with 2021. Overall, imports showed a buoyant increase. The growth pace was the most rapid in 2015 when imports increased by 365%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, prepared baking powder imports totaled $X in 2022. In general, imports continue to indicate a measured expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 347% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest prepared baking powder supplier to Ghana, accounting for a 57% share of total imports. Moreover, prepared baking powder imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold. Malta (X tons) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-2.3% per year) and Malta (+27.4% per year).

In value terms, China ($X), the United Arab Emirates ($X) and India ($X) constituted the largest prepared baking powder suppliers to Ghana, with a combined 89% share of total imports. Cote d'Ivoire and Malta lagged somewhat behind, together accounting for a further 5.3%.

Cote d'Ivoire, with a CAGR of +49.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average prepared baking powder import price stood at $X per ton in 2022, waning by -1.9% against the previous year. In general, the import price showed a pronounced decline. The pace of growth was the most pronounced in 2014 when the average import price increased by 47%. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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