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Philippines - Baking Soda - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBaking Soda Price in the Philippines - 2023
Contents:
- Baking Soda Price in the Philippines (CIF) - 2022
- Baking Soda Price in the Philippines (FOB) - 2022
- Baking Soda Imports in the Philippines
- Baking Soda Exports in the Philippines
Baking Soda Price in the Philippines (CIF) - 2022
In 2022, the average baking soda import price amounted to $449 per ton, with an increase of 8.1% against the previous year. Over the last decade, it increased at an average annual rate of +3.8%. The pace of growth was the most pronounced in 2014 an increase of 20%. The import price peaked in 2022 and is expected to retain growth in years to come.
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 Germany ($1,065 per ton), while the price for China ($359 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Baking Soda Price in the Philippines (FOB) - 2022
The average baking soda export price stood at $2,902 per ton in 2022, rising by 155% against the previous year. Overall, the export price, however, saw a mild slump. Over the period under review, the average export prices hit record highs at $3,609 per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for Bahrain.
From 2012 to 2022, the rate of growth in terms of prices for Thailand amounted to +5.0% per year.
Baking Soda Imports in the Philippines
In 2022, overseas purchases of baking soda decreased by -5.5% to 20K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +2.8% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 9.6%.
In value terms, baking soda imports rose modestly to $9.2M in 2022. The total import value increased at an average annual rate of +11.3% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 23% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.
Import of Baking Soda in the Philippines (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 2.9 | 2.9 | 3.6 | 5.7 | 25.3% |
United States | 1.3 | 1.3 | 1.3 | 1.0 | -8.4% |
Thailand | 0.7 | 0.8 | 0.3 | 0.5 | -10.6% |
Germany | 0.8 | 1.2 | 1.5 | 0.4 | -20.6% |
Turkey | N/A | 0.1 | 0.2 | 0.3 | 73.2% |
Italy | N/A | N/A | N/A | 0.3 | 0% |
Bulgaria | 0.4 | 0.4 | 0.5 | N/A | 11.8% |
Others | 0.5 | 0.6 | 1.5 | 0.9 | 21.6% |
Total | 6.7 | 7.3 | 9.0 | 9.2 | 11.1% |
Top Suppliers of Baking Soda to the Philippines in 2022:
- China (15.9K tons)
- United States (1.6K tons)
- Thailand (0.8K tons)
- Turkey (0.7K tons)
- Italy (0.6K tons)
- Germany (0.4K tons)
Baking Soda Exports in the Philippines
In 2022, shipments abroad of baking soda decreased by -97.3% to 123 kg for the first time since 2018, thus ending a three-year rising trend. Overall, exports faced a significant contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 419%.
In value terms, baking soda exports declined notably to $357 in 2022. Over the period under review, exports faced a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of 888% against the previous year.
Export of Baking Soda in the Philippines (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Bahrain | N/A | N/A | N/A | 0.4 | 0% |
Singapore | 0.5 | 2.9 | 3.2 | N/A | 153.0% |
South Korea | N/A | N/A | 1.6 | N/A | 0% |
Others | 0.1 | 2.1 | 0.4 | N/A | 100.0% |
Total | 0.5 | 5.0 | 5.2 | 0.4 | -7.2% |
Top Export Markets for Baking Soda from the Philippines in 2022:
- Bahrain (123.0 kg)
This report provides an in-depth analysis of the baking soda market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20134320 - Sodium hydrogencarbonate (sodium bicarbonate)
Country coverage:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the baking soda market in the Philippines.
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