Sweden: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Sweden

In 2022, the Swedish prepared baking powder market decreased by -8.5% to $X, falling for the second year in a row after two years of growth. Overall, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -17.7% against 2020 indices. Prepared baking powder consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Prepared Baking Powder Production in Sweden

In value terms, prepared baking powder production contracted markedly to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt decline. The pace of growth appeared the most rapid in 2021 when the production volume increased by 12%. Prepared baking powder production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Prepared Baking Powder Exports

Exports from Sweden

In 2022, after four years of growth, there was significant decline in overseas shipments of prepared baking powders, when their volume decreased by -8.6% to X tons. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 22% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, prepared baking powder exports stood at $X in 2022. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 40%. The exports peaked at $X in 2012; afterwards, it flattened through to 2022.

Exports by Country

Denmark (X tons) was the main destination for prepared baking powder exports from Sweden, with a 55% share of total exports. Moreover, prepared baking powder exports to Denmark exceeded the volume sent to the second major destination, Norway (X tons), fourfold. Spain (X tons) ranked third in terms of total exports with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Denmark totaled +31.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+1.7% per year) and Spain (+46.0% per year).

In value terms, Denmark ($X) remains the key foreign market for prepared baking powders exports from Sweden, comprising 54% of total exports. The second position in the ranking was held by Norway ($X), with a 13% share of total exports. It was followed by Spain, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value to Denmark totaled +31.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-0.2% per year) and Spain (+51.4% per year).

Export Prices by Country

The average prepared baking powder export price stood at $X per ton in 2022, with an increase of 9.7% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 18% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Morocco ($X per ton), while the average price for exports to Iceland ($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 Morocco (+36.3%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Baking Powder Imports

Imports into Sweden

In 2022, purchases abroad of prepared baking powders decreased by -18.7% to X tons, falling for the second year in a row after two years of growth. Over the period under review, total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -33.0% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 48%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, prepared baking powder imports amounted to $X in 2022. The total import value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 46%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Latvia (X tons) constituted the largest prepared baking powder supplier to Sweden, with a 78% share of total imports. Moreover, prepared baking powder imports from Latvia exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), more than tenfold. Denmark (X tons) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume from Latvia totaled +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+6.1% per year) and Denmark (-4.8% per year).

In value terms, Latvia ($X) constituted the largest supplier of prepared baking powders to Sweden, comprising 79% of total imports. The second position in the ranking was held by Norway ($X), with a 5.9% share of total imports. It was followed by the Netherlands, with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Latvia amounted to +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+75.3% per year) and the Netherlands (+8.2% per year).

Import Prices by Country

The average prepared baking powder import price stood at $X per ton in 2022, with an increase of 25% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Norway ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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