Prepared Baking Powder Market

The global market for prepared baking powder is expected to show positive growth in both volume and value terms from 2022 to 2030, with a forecasted CAGR of +3.0% in consumption and +4.9% in value. The largest consuming and producing countries include China, the United States, and India. Import and export dynamics also play a significant role in the market, with major exporters like Egypt and major importers like Saudi Arabia showing significant growth rates. Price trends in the market are also analyzed, with average export prices expected to continue growing in the immediate term.

Market Forecast

Driven by increasing demand for prepared baking powders worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market volume to 679K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.9% for the period from 2022 to 2030, which is projected to bring the market value to $2.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Prepared Baking Powders

Global prepared baking powder consumption reached 534K tons in 2022, stabilizing at the previous year. The total consumption volume increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, global consumption attained the maximum volume at 563K tons in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

The global prepared baking powder market revenue expanded notably to $1.6B in 2022, increasing by 5.6% 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, however, recorded a mild downturn. The pace of growth appeared the most rapid in 2019 with an increase of 6.8%. Over the period under review, the global market reached the maximum level at $1.8B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (73K tons), the United States (61K tons) and India (29K tons), together accounting for 31% of global consumption. Austria, Pakistan, Russia, Indonesia, Brazil, Bangladesh, Japan, Saudi Arabia, Germany and Mexico lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +10.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest prepared baking powder markets worldwide were the United States ($147M), China ($101M) and Pakistan ($73M), with a combined 20% share of the global market. Japan, India, Bangladesh, Austria, Indonesia, Russia, Brazil, Germany, Saudi Arabia and Mexico lagged somewhat behind, together comprising a further 23%.

Bangladesh, with a CAGR of +14.0%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of prepared baking powder per capita consumption was registered in Austria (1,974 kg per 1000 persons), followed by Saudi Arabia (252 kg per 1000 persons), the United States (183 kg per 1000 persons) and Russia (100 kg per 1000 persons), while the world average per capita consumption of prepared baking powder was estimated at 68 kg per 1000 persons.

From 2012 to 2022, the average annual growth rate of the prepared baking powder per capita consumption in Austria was relatively modest. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Saudi Arabia (+7.8% per year) and the United States (+3.5% per year).

Production

World Production of Prepared Baking Powders

Global prepared baking powder production amounted to 527K tons in 2022, surging by 2.3% against the previous year's figure. The total output volume increased at an average annual rate of +3.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of 7.1% against the previous year. Over the period under review, global production reached the peak volume in 2022 and is likely to see gradual growth in years to come.

In value terms, prepared baking powder production stood at $1.4B in 2022 estimated in export price. Overall, production, however, recorded a pronounced decline. The most prominent rate of growth was recorded in 2019 when the production volume increased by 18%. As a result, production reached the peak level of $1.9B. From 2020 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (82K tons), the United States (66K tons) and India (30K tons), together accounting for 34% of global production. Egypt, Austria, Russia, Pakistan, Kenya, Thailand, Brazil, Bangladesh, Germany and Mexico lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +17.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Prepared Baking Powders

In 2022, purchases abroad of prepared baking powders decreased by -4.1% to 92K tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 36%. As a result, imports reached the peak of 114K tons. From 2018 to 2022, the growth of global imports remained at a somewhat lower figure.

In value terms, prepared baking powder imports reached $223M in 2022. The total import value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 24%. Global imports peaked at $228M in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports By Country

In 2022, Saudi Arabia (10K tons), followed by the Philippines (6.2K tons), Canada (6.1K tons) and Indonesia (5.2K tons) represented the key importers of prepared baking powders, together achieving 30% of total imports. Angola (3.3K tons), the United States (3.2K tons), Poland (2.7K tons), Uganda (2.4K tons), Iraq (1.5K tons), Germany (1.4K tons) and Nigeria (1.4K tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Philippines (with a CAGR of +49.0%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($23M), Indonesia ($16M) and Canada ($16M) appeared to be the countries with the highest levels of imports in 2022, with a combined 25% share of global imports. The Philippines, Angola, the United States, Poland, Germany, Uganda, Iraq and Nigeria lagged somewhat behind, together comprising a further 23%.

The Philippines, with a CAGR of +41.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average prepared baking powder import price stood at $2,423 per ton in 2022, picking up by 5.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2021 an increase of 15%. Global import price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Angola ($3,103 per ton), while Uganda ($1,536 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Angola (+7.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Prepared Baking Powders

In 2022, shipments abroad of prepared baking powders increased by 4.8% to 85K tons, rising for the seventh year in a row after two years of decline. The total export volume increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when exports increased by 12%. The global exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, prepared baking powder exports reached $201M in 2022. Overall, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +84.2% against 2015 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 19%. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

In 2022, Egypt (15K tons), followed by Kenya (10K tons), China (9K tons), the United States (8K tons), Thailand (6.2K tons) and Germany (3.9K tons) represented the largest exporters of prepared baking powders, together mixing up 62% of total exports. Turkey (2.7K tons), Poland (2.6K tons), Mexico (2.5K tons), South Africa (1.8K tons), Malaysia (1.7K tons) and Tunisia (1.6K tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Egypt (with a CAGR of +84.2%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest prepared baking powder supplying countries worldwide were Egypt ($42M), the United States ($22M) and Kenya ($16M), together accounting for 40% of global exports.

Among the main exporting countries, Egypt, with a CAGR of +84.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average prepared baking powder export price stood at $2,368 per ton in 2022, surging by 9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 South Africa ($3,242 per ton), while Thailand ($1,530 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+6.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform