Italy: Baking Soda Market 2024

Baking Soda Market Size in Italy

For the third year in a row, the Italian baking soda market recorded growth in sales value, which increased by 3.5% to $X in 2021. In general, consumption saw a resilient increase. Baking soda consumption peaked in 2021 and is expected to retain growth in the immediate term.

Baking Soda Production in Italy

In value terms, baking soda production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 14%. Baking soda production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Baking Soda Exports

Exports from Italy

In 2019, after seven years of growth, there was significant decline in overseas shipments of baking soda, when their volume decreased by -13.3% to X tons. Over the period under review, total exports indicated strong growth from 2012 to 2019: its volume increased at an average annual rate of +9.5% over the last seven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports increased by +88.4% against 2012 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 27% against the previous year. The exports peaked at X tons in 2018, and then dropped in the following year.

In value terms, baking soda exports dropped to $X in 2019. In general, exports, however, saw resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 34%. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

China (X tons) was the main destination for baking soda exports from Italy, with a 24% share of total exports. Moreover, baking soda exports to China exceeded the volume sent to the second major destination, France (X tons), threefold. The Netherlands (X tons) ranked third in terms of total exports with an 8.1% share.

From 2012 to 2019, the average annual growth rate of volume to China stood at +558.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+20.4% per year) and the Netherlands (+288.1% per year).

In value terms, China ($X) emerged as the key foreign market for baking soda exports from Italy, comprising 19% of total exports. The second position in the ranking was held by France ($X), with a 9% share of total exports. It was followed by the Netherlands, with a 7.3% share.

From 2012 to 2019, the average annual rate of growth in terms of value to China amounted to +356.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+17.4% per year) and the Netherlands (+295.2% per year).

Export Prices by Country

The average baking soda export price stood at $X per ton in 2019, stabilizing at the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 14%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2019, the average export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2019, amid the top suppliers, the countries with the highest prices were Hong Kong SAR ($X per ton) and Tunisia ($X per ton), while the average price for exports to India ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

Baking Soda Imports

Imports into Italy

In 2021, the amount of baking soda imported into Italy expanded significantly to X tons, increasing by 8.6% against 2020. Over the period under review, imports posted a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 23%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, baking soda imports rose rapidly to $X in 2021. In general, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +73.1% against 2016 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 30%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Turkey (X tons), Bosnia and Herzegovina (X tons) and France (X tons) were the main suppliers of baking soda imports to Italy, with a combined 79% share of total imports. These countries were followed by Germany, Belgium, Poland and Sweden, which together accounted for a further 18%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +42.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest baking soda suppliers to Italy were Turkey ($X), France ($X) and Bosnia and Herzegovina ($X), together comprising 71% of total imports. Germany, Belgium, Poland and Sweden lagged somewhat behind, together comprising a further 23%.

Belgium, with a CAGR of +30.9%, saw the highest rates of growth with regard to the value of imports, in terms of 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, reducing by -2.4% against the previous year. Overall, the import price saw a slight slump. The pace of growth appeared the most rapid in 2013 an increase of 12%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

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 Sweden ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bosnia and Herzegovina (+0.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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