Northern America: Baking Soda Market 2024

Baking Soda Market Size in Northern America

In 2021, the North American baking soda market decreased by -2.8% to $X for the first time since 2017, thus ending a three-year rising trend. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.1% 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 +94.1% against 2014 indices. Over the period under review, the market reached the peak level at $X in 2020, and then fell in the following year.

Baking Soda Production in Northern America

In value terms, baking soda production contracted slightly to $X in 2021 estimated in export price. Overall, production showed a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 29%. Over the period under review, production hit record highs at $X in 2020, and then fell in the following year.

Baking Soda Exports

Exports in Northern America

In 2021, overseas shipments of baking soda increased by 4.5% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +16.2% against 2019 indices. The pace of growth was the most pronounced in 2017 when exports increased by 30% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, baking soda exports shrank to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +17.8% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 19% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

The United States dominates exports structure, accounting for X tons, which was near 95% of total exports in 2021. It was distantly followed by Canada (X tons), committing a 5.2% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to baking soda exports from the United States stood at +4.8%. At the same time, Canada (+64.7%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +64.7% from 2012-2021. Canada (+5.1 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -5.1% from 2012 to 2021, respectively.

In value terms, the United States ($X) remains the largest baking soda supplier in Northern America, comprising 96% of total exports. The second position in the ranking was taken by Canada ($X), with a 3.6% share of total exports.

In the United States, baking soda exports increased at an average annual rate of +6.2% over the period from 2012-2021.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, dropping by -5.1% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2018 an increase of 11%. The level of export peaked at $X per ton in 2020, and then declined in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.3%).

Baking Soda Imports

Imports in Northern America

After nine years of growth, supplies from abroad of baking soda decreased by -0.3% to X tons in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% 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 +77.2% against 2012 indices. The most prominent rate of growth was recorded in 2019 with an increase of 25%. Over the period under review, imports reached the maximum at X tons in 2020, and then reduced modestly in the following year.

In value terms, baking soda imports fell to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.8% 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 +80.4% against 2012 indices. The pace of growth was the most pronounced in 2019 when imports increased by 18%. Over the period under review, imports hit record highs at $X in 2020, and then contracted in the following year.

Imports by Country

Canada was the key importing country with an import of around X tons, which amounted to 75% of total imports. It was distantly followed by the United States (X tons), achieving a 25% share of total imports.

Imports into Canada increased at an average annual rate of +4.8% from 2012 to 2021. At the same time, the United States (+14.8%) displayed positive paces of growth. Moreover, the United States emerged as the fastest-growing importer imported in Northern America, with a CAGR of +14.8% from 2012-2021. The United States (+12 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -12% from 2012 to 2021, respectively.

In value terms, Canada ($X) and the United States ($X) were the countries with the highest levels of imports in 2021.

In terms of the main importing countries, the United States, with a CAGR of +7.9%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, waning by -8.6% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the import price increased by 14%. Over the period under review, import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+1.2%).

Source: IndexBox Platform

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