Sweden: Baking Soda Market 2024

Baking Soda Market Size in Sweden

In 2021, the Swedish baking soda market increased by 10% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Baking Soda Production in Sweden

In value terms, baking soda production declined to $X in 2021 estimated in export price. In general, production, however, continues to indicate a significant expansion. The growth pace was the most rapid in 2013 with an increase of 178,094%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Baking Soda Exports

Exports from Sweden

In 2021, approx. X tons of baking soda were exported from Sweden; declining by -62% compared with 2020 figures. Overall, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 17% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, baking soda exports dropped dramatically to $X in 2021. Over the period under review, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 34%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons), South Korea (X tons) and China (X tons) were the main destinations of baking soda exports from Sweden, together comprising 54% of total exports. Norway, Taiwan (Chinese), Mexico, Belgium, Germany, the United States, Spain, Australia, France and Italy lagged somewhat behind, together comprising a further 36%.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +14.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Canada ($X) and China ($X) constituted the largest markets for baking soda exported from Sweden worldwide, together accounting for 67% of total exports. Mexico, Taiwan (Chinese), Norway, Belgium, Germany, the United States, Australia, Spain, France and Italy lagged somewhat behind, together accounting for a further 26%.

Norway, with a CAGR of +14.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average baking soda export price stood at $X per ton in 2021, with an increase of 13% against the previous year. Over the period under review, the export price saw slight growth. The pace of growth was the most pronounced in 2019 when the average export price increased by 28%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in the near future.

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 South Korea ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Baking Soda Imports

Imports into Sweden

For the third year in a row, Sweden recorded decline in supplies from abroad of baking soda, which decreased by -34.8% to X tons in 2021. In general, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2015 with an increase of 17% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, baking soda imports fell notably to $X in 2021. Over the period under review, imports saw a abrupt setback. The growth pace was the most rapid in 2014 with an increase of 16% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Belgium (X tons), Finland (X tons) and Russia (X tons) were the main suppliers of baking soda imports to Sweden, together accounting for 56% of total imports. These countries were followed by the UK, Italy, Poland, Turkey, Germany, Spain and France, which together accounted for a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +151.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of baking soda to Sweden, comprising 27% of total imports. The second position in the ranking was taken by Finland ($X), with a 13% share of total imports. It was followed by the UK, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Belgium stood at -12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+106.2% per year) and the UK (-13.1% per year).

Import Prices by Country

The average baking soda import price stood at $X per ton in 2021, growing by 7.5% against the previous year. Over the period under review, the import price, however, showed a mild decrease. The pace of growth appeared the most rapid in 2014 when the average import price increased by 11%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+24.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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