Latin America and the Caribbean: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Latin America and the Caribbean

In 2022, the Latin American prepared baking powder market increased by 0.4% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the market value increased by 4.6%. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Prepared Baking Powder Production in Latin America and the Caribbean

In value terms, prepared baking powder production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 4.8% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Prepared Baking Powder Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of prepared baking powders were exported in Latin America and the Caribbean; rising by 9.1% on the previous year's figure. Overall, exports, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2017 when exports increased by 16%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, prepared baking powder exports skyrocketed to $X in 2022. In general, exports, however, saw a mild shrinkage. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Mexico (X tons) represented the major exporter of prepared baking powders, constituting 45% of total exports. It was distantly followed by Guatemala (X tons), El Salvador (X tons), Colombia (X tons), Trinidad and Tobago (X tons) and Paraguay (X tons), together mixing up a 44% share of total exports. Brazil (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to prepared baking powder exports from Mexico stood at -3.4%. At the same time, Paraguay (+87.2%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +87.2% from 2012-2022. Trinidad and Tobago and Brazil experienced a relatively flat trend pattern. By contrast, El Salvador (-1.1%), Guatemala (-2.4%) and Colombia (-4.6%) illustrated a downward trend over the same period. Paraguay (+5 p.p.) significantly strengthened its position in terms of the total exports, while Colombia and Mexico saw its share reduced by -1.7% and -5.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest prepared baking powder supplier in Latin America and the Caribbean, comprising 51% of total exports. The second position in the ranking was held by Guatemala ($X), with a 12% share of total exports. It was followed by Trinidad and Tobago, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico totaled -2.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Guatemala (+1.1% per year) and Trinidad and Tobago (+1.9% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, increasing by 11% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 16%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Trinidad and Tobago ($X per ton), while El Salvador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+3.6%), while the other leaders experienced more modest paces of growth.

Prepared Baking Powder Imports

Imports in Latin America and the Caribbean

Prepared baking powder imports was estimated at X tons in 2022, with an increase of 15% against 2021 figures. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 25%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, prepared baking powder imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 27% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the twelve major importers of prepared baking powders, namely Belize, El Salvador, Panama, Nicaragua, Uruguay, Costa Rica, Honduras, Brazil, the Dominican Republic, Guatemala, Chile and Peru, represented more than two-thirds of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Panama (with a CAGR of +148.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belize ($X), El Salvador ($X) and Panama ($X) were the countries with the highest levels of imports in 2022, with a combined 37% share of total imports.

Panama, with a CAGR of +125.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, surging by 2.6% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 11%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Peru ($X per ton), while Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Honduras (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :