Mexico: Baking Soda Market 2024

Baking Soda Market Size in Mexico

In 2021, the Mexican baking soda market increased by 0.8% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +2.9% against 2019 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Baking Soda Production in Mexico

In value terms, baking soda production dropped modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by 23%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Baking Soda Exports

Exports from Mexico

In 2021, overseas shipments of baking soda decreased by -79.1% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports saw a deep downturn. The pace of growth appeared the most rapid in 2016 when exports increased by 185%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, baking soda exports dropped notably to $X in 2021. In general, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 193%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for baking soda exports from Mexico, with a 77% share of total exports. Moreover, baking soda exports to the United States exceeded the volume sent to the second major destination, Venezuela (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -9.9%.

In value terms, the United States ($X) remains the key foreign market for baking soda exports from Mexico, comprising 72% of total exports. The second position in the ranking was taken by Venezuela ($X), with a 28% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled -10.2%.

Export Prices by Country

In 2021, the average baking soda export price amounted to $X per ton, which is down by -4.7% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 14% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+13.7%), while the prices for the other major destinations experienced mixed trend patterns.

Baking Soda Imports

Imports into Mexico

Baking soda imports into Mexico fell slightly to X tons in 2021, remaining constant against the previous year's figure. Overall, total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +92.0% against 2013 indices. The pace of growth appeared the most rapid in 2018 with an increase of 34% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020, and then fell slightly in the following year.

In value terms, baking soda imports totaled $X in 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.4% 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 +95.4% against 2013 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 35% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, the United States (X tons) was the main supplier of baking soda to Mexico, accounting for a 97% share of total imports. It was followed by China (X tons), with a 3.1% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +5.9%.

In value terms, the United States ($X) constituted the largest supplier of baking soda to Mexico, comprising 98% of total imports. The second position in the ranking was held by China ($X), with a 2.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +8.2%.

Import Prices by Country

In 2021, the average baking soda import price amounted to $X per ton, approximately mirroring the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 14% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.2%).

Source: IndexBox Platform

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