Report Update Nov 1, 2024

Sri Lanka - Baking Soda - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Baking Soda Market 2024

Baking Soda Market Size in Sri Lanka

In 2021, the Sri Lankan baking soda market decreased by -11.8% to $X for the first time since 2013, thus ending a seven-year rising trend. In general, consumption, however, enjoyed a remarkable increase. Baking soda consumption peaked at $X in 2020, and then contracted in the following year.

Baking Soda Exports

Exports from Sri Lanka

In 2021, shipments abroad of baking soda decreased by -61.2% to X tons, falling for the fourth year in a row after two years of growth. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 672% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, baking soda exports fell markedly to $X in 2021. In general, exports, however, continue to indicate pronounced growth. The pace of growth appeared the most rapid in 2017 when exports increased by 594% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Maldives (X tons) was the main destination for baking soda exports from Sri Lanka, with a 97% share of total exports. Moreover, baking soda exports to Maldives exceeded the volume sent to the second major destination, France (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Maldives totaled +9.0%.

In value terms, Maldives ($X) remains the key foreign market for baking soda exports from Sri Lanka, comprising 100% of total exports. The second position in the ranking was held by France ($X), with a 0.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Maldives amounted to +14.3%.

Export Prices by Country

The average baking soda export price stood at $X per ton in 2021, with an increase of 14% against the previous year. Over the period under review, the export price continues to indicate a notable increase. The growth pace was the most rapid in 2018 when the average export price increased by 80% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to France stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+22.0%), while the prices for the other major destinations experienced mixed trend patterns.

Baking Soda Imports

Imports into Sri Lanka

In 2021, overseas purchases of baking soda decreased by -4.9% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, recorded strong growth. The pace of growth was the most pronounced in 2014 with an increase of 66%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, baking soda imports dropped to $X in 2021. In general, imports, however, continue to indicate a prominent increase. The pace of growth was the most pronounced in 2014 with an increase of 59%. Imports peaked at $X in 2020, and then contracted in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest baking soda supplier to Sri Lanka, accounting for a 37% share of total imports. Moreover, baking soda imports from China exceeded the figures recorded by the second-largest supplier, Egypt (X tons), twofold. The third position in this ranking was taken by Thailand (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+33.4% per year) and Thailand (+50.3% per year).

In value terms, the largest baking soda suppliers to Sri Lanka were China ($X), Singapore ($X) and India ($X), together accounting for 57% of total imports. Egypt, Thailand, Germany and Turkey lagged somewhat behind, together comprising a further 32%.

Among the main suppliers, Turkey, with a CAGR of +58.5%, saw the highest growth rate of 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

In 2021, the average baking soda import price amounted to $X per ton, shrinking by -10.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2020 when the average import price increased by 29%. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+24.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for baking soda in the world?

The countries with the highest volumes of baking soda consumption in 2021 were China, the United States and India, together comprising 41% of global consumption. These countries were followed by Japan, Pakistan, Brazil, Russia, France, Italy, Mexico, the UK, Germany and South Korea, which together accounted for a further 33%.

What are the largest producers of baking soda in the world?

China remains the largest baking soda producing country worldwide, accounting for 27% of total volume. Moreover, baking soda production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. The third position in this ranking was occupied by India, with a 7.9% share.

What are the leading suppliers of baking soda to Sri Lanka?

In value terms, the largest baking soda suppliers to Sri Lanka were China, Egypt and Singapore, together comprising 72% of total imports.

What are the leading importers of baking soda from Sri Lanka?

In value terms, Maldives $513) remains the key foreign market for baking soda exports from Sri Lanka.

What is the average export price for baking soda in Sri Lanka?

The average baking soda export price stood at $757 per ton in 2021, rising by 26% against the previous year.

What is the average import price for baking soda in Sri Lanka?

The average baking soda import price stood at $334 per ton in 2021, waning by -12% against the previous year.

This report provides an in-depth analysis of the baking soda market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20134320 - Sodium hydrogencarbonate (sodium bicarbonate)

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023