Scandinavia: Baking Soda Market 2024

Baking Soda Market Size in Scandinavia

In 2022, the Scandinavia baking soda market increased by X% to $X, rising for the fifth consecutive year after three years of decline. Over the period under review, consumption posted prominent growth. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the near future.

Baking Soda Production in Scandinavia

In value terms, baking soda production rose sharply to $X in 2022 estimated in export price. In general, production enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Baking Soda Exports

Exports in Scandinavia

In 2022, the amount of baking soda exported in Scandinavia fell sharply to X tons, shrinking by X% compared with 2021 figures. Overall, exports saw a abrupt decrease. The pace of growth was the most pronounced in 2016 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, baking soda exports contracted remarkably to $X in 2022. Over the period under review, exports showed a dramatic decline. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Finland was the largest exporting country with an export of about X tons, which resulted at X% of total exports. Sweden (X tons) ranks second in terms of the total exports with a X% share, followed by Norway (X%).

Exports from Finland increased at an average annual rate of X% from 2012 to 2022. At the same time, Norway (X%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of X% from 2012-2022. By contrast, Sweden (X%) illustrated a downward trend over the same period. While the share of Finland (X p.p.) and Norway (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sweden (X p.p.) displayed negative dynamics.

In value terms, Sweden ($X) remains the largest baking soda supplier in Scandinavia, comprising X% of total exports. The second position in the ranking was held by Finland ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Sweden amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (X% per year) and Norway (X% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the other leaders experienced a decline in the export price figures.

Baking Soda Imports

Imports in Scandinavia

In 2022, overseas purchases of baking soda increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, baking soda imports rose notably to $X in 2022. In general, imports, however, showed a pronounced decline. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Finland (X tons) and Sweden (X tons) were the main importers of baking soda in 2022, accounting for approx. X% and X% of total imports, respectively. It was distantly followed by Norway (X tons), mixing up a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Norway (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) were the countries with the highest levels of imports in 2022.

In terms of the main importing countries, Norway, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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