Turkey: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Turkey

The Turkish prepared baking powder market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption, however, recorded a abrupt descent. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Prepared Baking Powder Production in Turkey

In value terms, prepared baking powder production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 52% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Prepared Baking Powder Exports

Exports from Turkey

In 2022, the amount of prepared baking powders exported from Turkey declined modestly to X tons, dropping by -3.8% against 2021. In general, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -19.7% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 37%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, prepared baking powder exports surged to $X in 2022. Overall, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -1.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 41%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Iraq (X tons) was the main destination for prepared baking powder exports from Turkey, accounting for a 41% share of total exports. Moreover, prepared baking powder exports to Iraq exceeded the volume sent to the second major destination, Azerbaijan (X tons), threefold. The third position in this ranking was taken by Syrian Arab Republic (X tons), with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iraq amounted to +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (+9.8% per year) and Syrian Arab Republic (0.0% per year).

In value terms, the largest markets for prepared baking powder exported from Turkey were Iraq ($X), Azerbaijan ($X) and Turkmenistan ($X), together accounting for 58% of total exports. Syrian Arab Republic, the UK, Kazakhstan, Georgia, Tajikistan, Uzbekistan and the United Arab Emirates lagged somewhat behind, together comprising a further 26%.

In terms of the main countries of destination, the UK, with a CAGR of +43.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average prepared baking powder export price amounted to $X per ton, increasing by 30% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Tajikistan ($X per ton), while the average price for exports to Iraq ($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 Tajikistan (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Baking Powder Imports

Imports into Turkey

In 2022, the amount of prepared baking powders imported into Turkey dropped rapidly to X tons, which is down by -58% against 2021 figures. Overall, imports showed a significant decline. The growth pace was the most rapid in 2016 with an increase of 213%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, prepared baking powder imports shrank remarkably to $X in 2022. In general, imports faced a deep downturn. The most prominent rate of growth was recorded in 2016 with an increase of 128%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Sweden (X tons) was the main prepared baking powder supplier to Turkey, accounting for a 90% share of total imports. Moreover, prepared baking powder imports from Sweden exceeded the figures recorded by the second-largest supplier, Iraq (X kg), more than tenfold. The Netherlands (X kg) ranked third in terms of total imports with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sweden totaled -20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Iraq (+1.6% per year) and the Netherlands (-30.9% per year).

In value terms, Sweden ($X) constituted the largest supplier of prepared baking powders to Turkey, comprising 95% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 2% share of total imports. It was followed by Iraq, with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Sweden amounted to -19.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-27.1% per year) and Iraq (-9.1% per year).

Import Prices by Country

In 2022, the average prepared baking powder import price amounted to $X per ton, picking up by 7.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 32%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Sweden ($X per ton), while the price for Bulgaria ($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 Netherlands (+5.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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