Western Africa: Baking Soda Market 2024

Baking Soda Market Size in Western Africa

The West African baking soda market was estimated at $X in 2021, surging by 2.3% against the previous year. Over the period under review, consumption, however, continues to indicate a prominent expansion. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Baking Soda Production in Western Africa

In value terms, baking soda production reached $X in 2021 estimated in export price. Over the period under review, production continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by 44%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Baking Soda Exports

Exports in Western Africa

In 2021, baking soda exports in Western Africa surged to X tons, growing by 135% on 2020. Overall, exports, however, continue to indicate a pronounced shrinkage. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, baking soda exports soared to $X in 2021. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 332% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Senegal was the main exporting country with an export of about X tons, which recorded 71% of total exports. Mauritania (X tons) took the second position in the ranking, followed by Mali (X tons). All these countries together took approx. 23% share of total exports. Cote d'Ivoire (X tons) held a relatively small share of total exports.

Exports from Senegal increased at an average annual rate of +5.1% from 2012 to 2021. At the same time, Cote d'Ivoire (+35.0%) and Mali (+11.4%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +35.0% from 2012-2021. Mauritania experienced a relatively flat trend pattern. Senegal (+40 p.p.), Mauritania (+14 p.p.), Mali (+6.7 p.p.) and Cote d'Ivoire (+3 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest baking soda supplier in Western Africa, comprising 80% of total exports. The second position in the ranking was held by Mali ($X), with an 8.1% share of total exports. It was followed by Mauritania, with a 6.2% share.

In Senegal, baking soda exports expanded at an average annual rate of +6.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Mali (+16.0% per year) and Mauritania (0.0% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, declining by -7.4% against the previous year. Export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the export price increased by 87%. The level of export peaked at $X per ton in 2020, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+4.1%), while the other leaders experienced mixed trends in the export price figures.

Baking Soda Imports

Imports in Western Africa

In 2021, the amount of baking soda imported in Western Africa shrank notably to X tons, dropping by -30% compared with the previous year. Overall, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 122% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, baking soda imports soared to $X in 2021. In general, imports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2013 when imports increased by 132%. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

Imports by Country

In 2021, Nigeria (X tons) was the largest importer of baking soda, mixing up 56% of total imports. Senegal (X tons) ranks second in terms of the total imports with a 15% share, followed by Ghana (7.2%). The following importers - Cote d'Ivoire (X tons), Cabo Verde (X tons), Guinea (X tons), Burkina Faso (X tons), Liberia (X tons), Niger (X tons) and Mali (X tons) - together made up 20% of total imports.

Imports into Nigeria increased at an average annual rate of +15.9% from 2012 to 2021. At the same time, Cabo Verde (+39.5%), Senegal (+17.4%), Burkina Faso (+14.5%), Cote d'Ivoire (+9.3%), Liberia (+8.8%), Ghana (+7.0%), Guinea (+4.1%) and Mali (+1.6%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +39.5% from 2012-2021. By contrast, Niger (-18.9%) illustrated a downward trend over the same period. While the share of Nigeria (+25 p.p.), Senegal (+7.4 p.p.) and Cabo Verde (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mali (-1.7 p.p.) and Niger (-31.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported baking soda in Western Africa, comprising 79% of total imports. The second position in the ranking was taken by Senegal ($X), with a 3.9% share of total imports. It was followed by Cote d'Ivoire, with a 3% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled +22.8%. In the other countries, the average annual rates were as follows: Senegal (+11.0% per year) and Cote d'Ivoire (+9.2% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, rising by 69% against the previous year. In general, the import price recorded a prominent expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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