Kuwait: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Kuwait

In 2022, the Kuwaiti prepared baking powder market decreased by -13.2% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, showed a resilient increase. Over the period under review, the market hit record highs at $X in 2021, and then dropped in the following year.

Prepared Baking Powder Production in Kuwait

In value terms, prepared baking powder production dropped dramatically to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt descent. The growth pace was the most rapid in 2013 with an increase of 14% against the previous year. Prepared baking powder production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Prepared Baking Powder Exports

Exports from Kuwait

In 2022, after three years of growth, there was significant decline in overseas shipments of prepared baking powders, when their volume decreased by -8.3% to X tons. In general, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 316% against the previous year. The exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, prepared baking powder exports dropped to $X in 2022. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 387%. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Saudi Arabia (X tons) was the main destination for prepared baking powder exports from Kuwait, accounting for a 87% share of total exports. Moreover, prepared baking powder exports to Saudi Arabia exceeded the volume sent to the second major destination, Qatar (X tons), sevenfold.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia totaled +97.5%.

In value terms, the largest markets for prepared baking powder exported from Kuwait were Saudi Arabia ($X) and Qatar ($X).

In terms of the main countries of destination, Saudi Arabia, with a CAGR of +113.5%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the average prepared baking powder export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price recorded a buoyant increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 73% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Saudi Arabia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+22.3%).

Prepared Baking Powder Imports

Imports into Kuwait

In 2022, purchases abroad of prepared baking powders decreased by -14.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 314%. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, prepared baking powder imports reduced to $X in 2022. In general, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2014 when imports increased by 291% against the previous year. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest supplier of prepared baking powder to Kuwait, with a 28% share of total imports. Moreover, prepared baking powder imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Malta (X tons), twofold. Iran (X tons) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Saudi Arabia totaled +53.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malta (+12.4% per year) and Iran (+25.4% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of prepared baking powders to Kuwait, comprising 35% of total imports. The second position in the ranking was taken by Malta ($X), with a 15% share of total imports. It was followed by the Netherlands, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Saudi Arabia stood at +48.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malta (+11.6% per year) and the Netherlands (+3.9% per year).

Import Prices by Country

In 2022, the average prepared baking powder import price amounted to $X per ton, with an increase of 3.3% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 24%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 Canada ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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