Southern Asia: Baking Soda Market 2024

Baking Soda Market Size in Southern Asia

After five years of growth, the South Asian baking soda market decreased by -4.1% to $X in 2021. The total consumption indicated prominent growth from 2012 to 2021: its value 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, consumption increased by +57.3% against 2015 indices. The level of consumption peaked at $X in 2020, and then contracted slightly in the following year.

Baking Soda Production in Southern Asia

In value terms, baking soda production reduced slightly to $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +62.1% against 2015 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 19%. Over the period under review, production attained the maximum level at $X in 2020, and then reduced modestly in the following year.

Baking Soda Exports

Exports in Southern Asia

In 2021, approx. X tons of baking soda were exported in Southern Asia; rising by 30% compared with the previous year's figure. Overall, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 116%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, baking soda exports surged to $X in 2021. Over the period under review, exports posted resilient growth. The pace of growth was the most pronounced in 2019 with an increase of 96%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

In 2021, India (X tons) was the major exporter of baking soda, achieving 88% of total exports. It was distantly followed by Pakistan (X tons), generating an 11% share of total exports.

India was also the fastest-growing in terms of the baking soda exports, with a CAGR of +21.5% from 2012 to 2021. Pakistan experienced a relatively flat trend pattern. India (+31 p.p.) significantly strengthened its position in terms of the total exports, while Pakistan saw its share reduced by -32.1% from 2012 to 2021, respectively.

In value terms, India ($X) remains the largest baking soda supplier in Southern Asia, comprising 86% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 13% share of total exports.

In India, baking soda exports expanded at an average annual rate of +17.6% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, shrinking by -2.8% against the previous year. Overall, the export price showed a perceptible descent. The pace of growth appeared the most rapid in 2013 when the export price increased by 24% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+0.2%).

Baking Soda Imports

Imports in Southern Asia

In 2021, approx. X tons of baking soda were imported in Southern Asia; falling by -23.4% compared with the previous year. Total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +2.9% 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 decreased by -42.7% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 41%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, baking soda imports reduced to $X in 2021. Total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.3% 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 decreased by -38.2% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 41% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Bangladesh (X tons) and India (X tons) dominates imports structure, together mixing up 81% of total imports. It was distantly followed by Sri Lanka (X tons) and Nepal (X tons), together making up a 15% share of total imports. Afghanistan (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Nepal (with a CAGR of +10.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Bangladesh ($X) and Sri Lanka ($X) constituted the countries with the highest levels of imports in 2021, with a combined 82% share of total imports. These countries were followed by Nepal and Afghanistan, which together accounted for a further 7.9%.

Among the main importing countries, Nepal, with a CAGR of +11.7%, recorded the highest rates of growth with regard to the value of imports, 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 Southern Asia stood at $X per ton in 2021, with an increase of 15% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in India ($X per ton) and Nepal ($X per ton), while Bangladesh ($X per ton) and Sri Lanka ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nepal (+1.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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