Iraq: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Iraq

In 2022, after three years of decline, there was significant growth in the Iraqi prepared baking powder market, when its value increased by 15% to $X. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Prepared Baking Powder Production in Iraq

In value terms, prepared baking powder production dropped markedly to $X in 2022 estimated in export price. Overall, production saw a deep slump. The pace of growth appeared the most rapid in 2021 with an increase of 51%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Prepared Baking Powder Exports

Exports from Iraq

After five years of decline, shipments abroad of prepared baking powders increased by 15% to X tons in 2022. Over the period under review, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 412%. 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 rose modestly to $X in 2022. In general, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of 295%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Turkey (X tons) was the main destination for prepared baking powder exports from Iraq, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Turkey totaled +29.0%.

In value terms, Turkey ($X) emerged as the key foreign market for prepared baking powders exports from Iraq.

From 2012 to 2022, the average annual growth rate of value to Turkey stood at +17.7%.

Export Prices by Country

The average prepared baking powder export price stood at $X per ton in 2022, which is down by -11.4% against the previous year. Over the period under review, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2021 an increase of 25%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2022, the rate of growth in terms of prices for Turkey amounted to -8.7% per year.

Prepared Baking Powder Imports

Imports into Iraq

In 2022, imports of prepared baking powders into Iraq skyrocketed to X tons, rising by 26% on 2021 figures. Overall, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -18.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 36% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, prepared baking powder imports surged to $X in 2022. In general, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -23.6% against 2020 indices. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of prepared baking powder to Iraq, accounting for a 85% share of total imports. Moreover, prepared baking powder imports from Turkey exceeded the figures recorded by the second-largest supplier, Egypt (X tons), more than tenfold. The third position in this ranking was held by China (X tons), with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey totaled +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+12.1% per year) and China (+36.5% per year).

In value terms, Turkey ($X) constituted the largest supplier of prepared baking powders to Iraq, comprising 83% of total imports. The second position in the ranking was taken by China ($X), with a 5.9% share of total imports. It was followed by Egypt, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+29.8% per year) and Egypt (+7.5% per year).

Import Prices by Country

The average prepared baking powder import price stood at $X per ton in 2022, rising by 15% against the previous year. Overall, the import price, however, showed a slight decrease. The pace of growth appeared the most rapid in 2018 an increase of 25% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

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 the United Arab Emirates ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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