Greece: Baking Soda Market 2025

Baking Soda Market Size in Greece

For the sixth consecutive year, the Greek baking soda market recorded growth in sales value, which increased by 0.1% to $X in 2021. Overall, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +82.3% against 2015 indices. Baking soda consumption peaked in 2021 and is expected to retain growth in years to come.

Baking Soda Exports

Exports from Greece

After five years of growth, shipments abroad of baking soda decreased by -13.8% to X tons in 2021. Over the period under review, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 290% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then fell in the following year.

In value terms, baking soda exports totaled $X in 2021. In general, exports, however, saw a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 238%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Cyprus (X tons), Romania (X tons) and North Macedonia (X tons) were the main destinations of baking soda exports from Greece, together comprising 94% of total exports.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +103.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X) remains the key foreign market for baking soda exports from Greece, comprising 43% of total exports. The second position in the ranking was taken by Romania ($X), with a 22% share of total exports. It was followed by North Macedonia, with a 20% share.

From 2012 to 2021, the average annual growth rate of value to Cyprus totaled +58.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+77.9% per year) and North Macedonia (+20.8% per year).

Export Prices by Country

The average baking soda export price stood at $X per ton in 2021, jumping by 20% against the previous year. Over the period under review, the export price, however, showed a pronounced curtailment. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (-0.9%), while the prices for the other major destinations experienced a decline.

Baking Soda Imports

Imports into Greece

In 2021, after five years of growth, there was decline in supplies from abroad of baking soda, when their volume decreased by -0.1% to X tons. Overall, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 29%. Imports peaked at X tons in 2020, and then reduced in the following year.

In value terms, baking soda imports dropped slightly to $X in 2021. Over the period under review, imports, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2013 when imports increased by 28%. Imports peaked at $X in 2020, and then declined modestly in the following year.

Imports by Country

Turkey (X tons), Bulgaria (X tons) and Bosnia and Herzegovina (X tons) were the main suppliers of baking soda imports to Greece, together comprising 55% of total imports. Russia, Belgium, Germany, the UK and Italy lagged somewhat behind, together comprising a further 42%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +130.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Italy ($X) and Bulgaria ($X) appeared to be the largest baking soda suppliers to Greece, together accounting for 44% of total imports. Belgium, Bosnia and Herzegovina, Germany, the UK and Russia lagged somewhat behind, together comprising a further 48%.

Russia, with a CAGR of +97.7%, saw the highest growth rate of 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

In 2021, the average baking soda import price amounted to $X per ton, flattening at the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 14% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+33.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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