India: Baking Soda Market 2024

Baking Soda Market Size in India

In 2021, after five years of growth, there was decline in the Indian baking soda market, when its value decreased by -3.7% to $X. In general, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Baking soda consumption peaked at $X in 2020, and then reduced slightly in the following year.

Baking Soda Production in India

In value terms, baking soda production fell modestly to $X in 2021 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +1.8% against 2017 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 31%. Over the period under review, production attained the maximum level at $X in 2020, and then fell slightly in the following year.

Baking Soda Exports

Exports from India

Baking soda exports from India skyrocketed to X tons in 2021, with an increase of 51% compared with 2020 figures. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 118%. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, baking soda exports skyrocketed to $X in 2021. Over the period under review, exports showed a buoyant increase. The pace of growth was the most pronounced in 2013 when exports increased by 121% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Indonesia (X tons), Nepal (X tons) and Bangladesh (X tons) were the main destinations of baking soda exports from India, with a combined 43% share of total exports. The United Arab Emirates, Sri Lanka, Thailand, Oman, Kenya and the Philippines lagged somewhat behind, together comprising a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +96.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for baking soda exported from India were Bangladesh ($X), Nepal ($X) and Indonesia ($X), together comprising 34% of total exports. These countries were followed by Sri Lanka, the United Arab Emirates, Oman, Thailand, Kenya and the Philippines, which together accounted for a further 22%.

In terms of the main countries of destination, Thailand, with a CAGR of +77.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average baking soda export price amounted to $X per ton, falling by -2.5% against the previous year. In general, the export price showed a noticeable descent. The pace of growth was the most pronounced in 2013 an increase of 20%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Indonesia ($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 the Philippines (+12.9%), while the prices for the other major destinations experienced a decline.

Baking Soda Imports

Imports into India

For the third consecutive year, India recorded decline in purchases abroad of baking soda, which decreased by -28.7% to X tons in 2021. Overall, imports, however, enjoyed a notable expansion. The pace of growth was the most pronounced in 2013 with an increase of 92% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, baking soda imports reduced notably to $X in 2021. In general, imports, however, enjoyed perceptible growth. The pace of growth appeared the most rapid in 2013 with an increase of 65% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Italy (X tons) and Turkey (X tons) were the main suppliers of baking soda imports to India, together accounting for 49% of total imports. These countries were followed by Thailand, Iran, the United Arab Emirates, Russia, the UK, Romania, Bulgaria and Malaysia, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +33.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest baking soda suppliers to India were China ($X), Italy ($X) and Iran ($X), together accounting for 40% of total imports.

Iran, with a CAGR of +34.5%, 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 baking soda import price stood at $X per ton in 2021, with an increase of 10% against the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The pace of growth appeared the most rapid in 2017 an increase of 24%. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

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 Iran ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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