Lithuania: Baking Soda Market 2024

Baking Soda Market Size in Lithuania

The Lithuanian baking soda market soared to $X in 2022, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a strong increase. Baking soda consumption peaked in 2022 and is likely to continue growth in the near future.

Baking Soda Exports

Exports from Lithuania

For the third year in a row, Lithuania recorded growth in overseas shipments of baking soda, which increased by X% to X tons in 2022. Overall, exports showed prominent growth. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, baking soda exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Latvia (X tons) was the main destination for baking soda exports from Lithuania, with a X% share of total exports. Moreover, baking soda exports to Latvia exceeded the volume sent to the second major destination, Estonia (X tons), sevenfold. Belarus (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Latvia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (X% per year) and Belarus (X% per year).

In value terms, Latvia ($X) remains the key foreign market for baking soda exports from Lithuania, comprising X% of total exports. The second position in the ranking was held by Estonia ($X), with a X% share of total exports. It was followed by Ukraine, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Latvia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (X% per year) and Ukraine (X% per year).

Export Prices by Country

In 2022, the average baking soda export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price saw a noticeable increase. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

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

Baking Soda Imports

Imports into Lithuania

Baking soda imports into Lithuania was estimated at X tons in 2022, with an increase of X% against the year before. Overall, imports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, baking soda imports skyrocketed to $X in 2022. In general, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Bosnia and Herzegovina (X tons), Russia (X tons) and Poland (X tons) were the main suppliers of baking soda imports to Lithuania, with a combined X% share of total imports. Latvia, Italy and Estonia lagged somewhat behind, together comprising a further X%.

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

In value terms, Bosnia and Herzegovina ($X), Russia ($X) and Poland ($X) were the largest baking soda suppliers to Lithuania, with a combined X% share of total imports. Italy, Latvia and Estonia lagged somewhat behind, together comprising a further X%.

Italy, with a CAGR of X%, recorded 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 baking soda import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 Italy ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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