Global Baking Soda Market 2024

Baking Soda Market Size

In 2021, the global baking soda market decreased by -1.2% to $X for the first time since 2014, thus ending a six-year rising trend. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $X in 2020, and then dropped in the following year.

Baking Soda Production

In value terms, baking soda production surged to $X in 2021 estimated in export price. Over the period under review, the total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +76.1% against 2012 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Baking Soda Exports

Exports

In 2021, the amount of baking soda exported worldwide rose rapidly to X tons, growing by 5.7% compared with the previous year. Over the period under review, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +8.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +113.3% against 2012 indices. The pace of growth appeared the most rapid in 2017 with an increase of 35% against the previous year. Over the period under review, the global exports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, baking soda exports rose significantly to $X in 2021. Overall, total exports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +84.5% against 2012 indices. The growth pace was the most rapid in 2018 when exports increased by 13% against the previous year. Over the period under review, the global exports hit record highs in 2021 and are likely to see steady growth in the near future.

Exports by Country

Turkey (X tons), China (X tons) and Germany (X tons) represented roughly 55% of total exports in 2021. Spain (X tons) took an 8.6% share (based on physical terms) of total exports, which put it in second place, followed by Russia (6.1%), the United States (5.1%) and France (4.7%). The following exporters - Bosnia and Herzegovina (X tons), Belgium (X tons), Thailand (X tons), the UK (X tons) and Singapore (X tons) - together made up 15% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Turkey (with a CAGR of +95.7%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest baking soda supplying countries worldwide were Germany ($X), China ($X) and Turkey ($X), with a combined 44% share of global exports.

Turkey, with a CAGR of +95.7%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average baking soda export price amounted to $X per ton, increasing by 4.6% against the previous year. In general, the export price, however, recorded a slight downturn. The pace of growth appeared the most rapid in 2016 when the average export price increased by 17% against the previous year. The global export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+3.3%), while the other global leaders experienced more modest paces of growth.

Baking Soda Imports

Imports

In 2021, global baking soda imports was estimated at X tons, approximately reflecting the previous year. In general, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +80.6% against 2012 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 15%. Global imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, baking soda imports stood at $X in 2021. Overall, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +70.7% against 2012 indices. The pace of growth appeared the most rapid in 2018 with an increase of 19%. Global imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, South Korea (X tons), France (X tons), Belgium (X tons), Germany (X tons), Indonesia (X tons), Italy (X tons), the Netherlands (X tons), China (X tons), Spain (X tons) and Canada (X tons) was the largest importer of baking soda in the world, creating 53% of total import. The following importers - Vietnam (X tons), Thailand (X tons) and Australia (X tons) - each accounted for a 6.1% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +33.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, France ($X), South Korea ($X) and Belgium ($X) were the countries with the highest levels of imports in 2021, together comprising 20% of global imports. These countries were followed by Germany, the Netherlands, China, Canada, Indonesia, Italy, Spain, Vietnam, Australia and Thailand, which together accounted for a further 33%.

In terms of the main importing countries, Australia, with a CAGR of +25.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average baking soda import price amounted to $X per ton, increasing by 5.4% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Global import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+3.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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