Greece: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Greece

The Greek prepared baking powder market shrank to $X in 2022, which is down by -10.1% against the previous year. Overall, consumption, however, saw a buoyant increase. As a result, consumption reached the peak level of $X, and then fell in the following year.

Prepared Baking Powder Production in Greece

In value terms, prepared baking powder production soared to $X in 2022 estimated in export price. In general, production, however, recorded a resilient increase. The growth pace was the most rapid in 2021 when the production volume increased by 64%. Over the period under review, production reached the peak level in 2022 and is likely to see steady growth in the near future.

Prepared Baking Powder Exports

Exports from Greece

In 2022, overseas shipments of prepared baking powders increased by 5.5% to X tons, rising for the fourth year in a row after two years of decline. Overall, exports recorded mild growth. The most prominent rate of growth was recorded in 2020 with an increase of 97%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, prepared baking powder exports soared to $X in 2022. In general, exports showed a slight increase. The most prominent rate of growth was recorded in 2020 when exports increased by 121%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Cyprus (X tons) was the main destination for prepared baking powder exports from Greece, with a 53% share of total exports. Moreover, prepared baking powder exports to Cyprus exceeded the volume sent to the second major destination, Bulgaria (X tons), twofold. Albania (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cyprus stood at +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+4.5% per year) and Albania (-2.1% per year).

In value terms, Cyprus ($X) remains the key foreign market for prepared baking powders exports from Greece, comprising 52% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a 20% share of total exports. It was followed by Albania, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Cyprus amounted to +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+9.5% per year) and Albania (-0.0% per year).

Export Prices by Country

In 2022, the average prepared baking powder export price amounted to $X per ton, rising by 11% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 39% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Malta ($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 Italy (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Baking Powder Imports

Imports into Greece

In 2022, imports of prepared baking powders into Greece fell to X tons, declining by -5.1% compared with the previous year's figure. Overall, imports recorded a deep slump. The pace of growth appeared the most rapid in 2020 with an increase of 43%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, prepared baking powder imports surged to $X in 2022. In general, imports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when imports increased by 76% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest prepared baking powder supplier to Greece, accounting for a 72% share of total imports. Moreover, prepared baking powder imports from Germany exceeded the figures recorded by the second-largest supplier, Sweden (X tons), ninefold. Italy (X tons) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-2.6% per year) and Italy (+20.8% per year).

In value terms, Germany ($X) constituted the largest supplier of prepared baking powders to Greece, comprising 66% of total imports. The second position in the ranking was taken by Italy ($X), with a 7.9% share of total imports. It was followed by France, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+32.3% per year) and France (+18.9% per year).

Import Prices by Country

The average prepared baking powder import price stood at $X per ton in 2022, with an increase of 23% against the previous year. Overall, the import price saw prominent growth. The growth pace was the most rapid in 2016 when the average import price increased by 58% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+24.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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