New Zealand: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in New Zealand

The New Zealand prepared baking powder market declined to $X in 2022, waning by -10.5% against the previous year. In general, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +14.9% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2021, and then dropped in the following year.

Prepared Baking Powder Production in New Zealand

In value terms, prepared baking powder production fell to $X in 2022 estimated in export price. Overall, production, however, enjoyed a resilient increase. The growth pace was the most rapid in 2013 when the production volume increased by 131% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Prepared Baking Powder Exports

Exports from New Zealand

Prepared baking powder exports from New Zealand surged to X tons in 2022, with an increase of 152% against 2021. In general, exports showed a remarkable increase. The pace of growth was the most pronounced in 2020 when exports increased by 194% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, prepared baking powder exports soared to $X in 2022. Overall, exports recorded strong growth. The pace of growth was the most pronounced in 2020 with an increase of 153%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Tonga (X tons) was the main destination for prepared baking powder exports from New Zealand, accounting for a 67% share of total exports. Moreover, prepared baking powder exports to Tonga exceeded the volume sent to the second major destination, Cook Islands (X tons), fivefold. The third position in this ranking was taken by Fiji (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Tonga stood at +47.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cook Islands (+23.9% per year) and Fiji (+12.1% per year).

In value terms, the largest markets for prepared baking powder exported from New Zealand were Tonga ($X), Fiji ($X) and Cook Islands ($X), with a combined 82% share of total exports.

Among the main countries of destination, Tonga, with a CAGR of +37.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average prepared baking powder export price amounted to $X per ton, with a decrease of -24.3% against the previous year. Over the period under review, the export price recorded a perceptible setback. The most prominent rate of growth was recorded in 2015 an increase of 41% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Fiji ($X per ton), while the average price for exports to Tonga ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Fiji (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Baking Powder Imports

Imports into New Zealand

For the third year in a row, New Zealand recorded growth in purchases abroad of prepared baking powders, which increased by 0.8% to X tons in 2022. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 38% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, prepared baking powder imports rose significantly to $X in 2022. Overall, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +81.1% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 43% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of prepared baking powder to New Zealand, with a 78% share of total imports. Moreover, prepared baking powder imports from Australia exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia totaled -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+22.2% per year) and India (+45.3% per year).

In value terms, Australia ($X) constituted the largest supplier of prepared baking powders to New Zealand, comprising 76% of total imports. The second position in the ranking was held by China ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia amounted to +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+27.5% per year) and India (+39.4% per year).

Import Prices by Country

The average prepared baking powder import price stood at $X per ton in 2022, rising by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2016 an increase of 22% against the previous year. The import price peaked in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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