Serbia: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Serbia

In 2022, the Serbian prepared baking powder market decreased by -4.1% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, continues to indicate a significant expansion. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Prepared Baking Powder Production in Serbia

In value terms, prepared baking powder production reduced to $X in 2022 estimated in export price. Overall, production, however, showed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 348% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Prepared Baking Powder Exports

Exports from Serbia

In 2022, shipments abroad of prepared baking powders decreased by -7% to X tons, falling for the second year in a row after two years of growth. The total export volume increased at an average annual rate of +2.9% 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 2020 with an increase of 14%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, prepared baking powder exports dropped to $X in 2022. The total export value increased at an average annual rate of +2.6% 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 2020 with an increase of 27%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Montenegro (X tons) was the main destination for prepared baking powder exports from Serbia, accounting for a 45% share of total exports. Moreover, prepared baking powder exports to Montenegro exceeded the volume sent to the second major destination, North Macedonia (X tons), threefold. Albania (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Montenegro stood at -1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+6.7% per year) and Albania (+18.9% per year).

In value terms, Montenegro ($X) remains the key foreign market for prepared baking powders exports from Serbia, comprising 46% of total exports. The second position in the ranking was held by Albania ($X), with a 16% share of total exports. It was followed by North Macedonia, with a 16% share.

From 2012 to 2022, the average annual growth rate of value to Montenegro amounted to -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (+18.3% per year) and North Macedonia (+4.5% per year).

Export Prices by Country

The average prepared baking powder export price stood at $X per ton in 2022, rising by 1.5% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 12%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Albania ($X per ton), while the average price for exports to Slovenia ($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 Bosnia and Herzegovina (+2.0%), while the prices for the other major destinations experienced mixed trend patterns.

Prepared Baking Powder Imports

Imports into Serbia

In 2022, supplies from abroad of prepared baking powders decreased by -55.3% to X tons, falling for the second year in a row after four years of growth. Over the period under review, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2017 when imports increased by 1,815% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, prepared baking powder imports fell rapidly to $X in 2022. Overall, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 806% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then reduced notably in the following year.

Imports by Country

In 2022, Romania (X tons) was the main prepared baking powder supplier to Serbia, accounting for a 90% share of total imports. Moreover, prepared baking powder imports from Romania exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Romania stood at +67.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+33.9% per year) and Bosnia and Herzegovina (-55.6% per year).

In value terms, Romania ($X) constituted the largest supplier of prepared baking powders to Serbia, comprising 85% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Romania amounted to +119.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+30.1% per year) and Bosnia and Herzegovina (-52.3% per year).

Import Prices by Country

In 2022, the average prepared baking powder import price amounted to $X per ton, picking up by 6.2% against the previous year. Over the period under review, the import price recorded moderate growth. The most prominent rate of growth was recorded in 2014 an increase of 94%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a 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 Germany ($X per ton), while the price for Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+30.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform