Vietnam: Prepared Baking Powder Market 2024

Prepared Baking Powder Market Size in Vietnam

The Vietnamese prepared baking powder market expanded sharply to $X in 2022, with an increase of 13% against the previous year. In general, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 -10.4% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Prepared Baking Powder Production in Vietnam

In value terms, prepared baking powder production soared to $X in 2022 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -11.5% against 2020 indices. The growth pace was the most rapid in 2020 when the production volume increased by 86%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Prepared Baking Powder Exports

Exports from Vietnam

In 2022, exports of prepared baking powders from Vietnam was estimated at X tons, growing by 4.8% compared with 2021 figures. Overall, exports, however, recorded a slight descent. The growth pace was the most rapid in 2016 with an increase of 38%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, prepared baking powder exports expanded significantly to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 35% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Myanmar (X tons) was the main destination for prepared baking powder exports from Vietnam, accounting for a 55% share of total exports. Moreover, prepared baking powder exports to Myanmar exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), fourfold. The third position in this ranking was held by Cambodia (X tons), with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume to Myanmar amounted to +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (-3.0% per year) and Cambodia (+29.6% per year).

In value terms, Myanmar ($X) remains the key foreign market for prepared baking powders exports from Vietnam, comprising 45% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a 15% share of total exports. It was followed by Thailand, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Myanmar was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (-0.7% per year) and Thailand (+21.6% per year).

Export Prices by Country

The average prepared baking powder export price stood at $X per ton in 2022, increasing by 9.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2013 an increase of 40% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Singapore ($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 Indonesia (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Baking Powder Imports

Imports into Vietnam

In 2022, purchases abroad of prepared baking powders decreased by -3.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, recorded a prominent expansion. The growth pace was the most rapid in 2013 with an increase of 91%. Over the period under review, imports attained the maximum at X tons in 2021, and then contracted modestly in the following year.

In value terms, prepared baking powder imports fell modestly to $X in 2022. Over the period under review, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 94% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

China (X tons), Denmark (X tons) and France (X tons) were the main suppliers of prepared baking powder imports to Vietnam, together accounting for 77% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +59.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Denmark ($X) and France ($X) were the largest prepared baking powder suppliers to Vietnam, with a combined 69% share of total imports.

China, with a CAGR of +47.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average prepared baking powder import price stood at $X per ton in 2022, standing approx. at the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average import price increased by 17% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

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 Hong Kong SAR ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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