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ECOWAS - Baking Soda - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Baking Soda Market 2024
Baking Soda Market Size in ECOWAS
The ECOWAS baking soda market declined to $X in 2023, which is down by X% against the previous year. The total consumption indicated a pronounced increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2019 indices. As a result, consumption attained the peak level of $X. From 2017 to 2023, the growth of the market remained at a somewhat lower figure.
Baking Soda Production in ECOWAS
In value terms, baking soda production shrank slightly to $X in 2023 estimated in export price. The total production indicated a notable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2023, production growth failed to regain momentum.
Baking Soda Exports
Exports in ECOWAS
In 2023, the amount of baking soda exported in ECOWAS skyrocketed to X tons, rising by X% on 2022 figures. In general, exports, however, recorded a perceptible setback. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.
In value terms, baking soda exports soared to $X in 2023. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.
Exports by Country
Senegal represented the main exporter of baking soda in ECOWAS, with the volume of exports resulting at X tons, which was near X% of total exports in 2023. It was distantly followed by Mali (X tons), Ghana (X tons), Cote d'Ivoire (X tons) and Nigeria (X tons), together committing a X% share of total exports.
Senegal experienced a relatively flat trend pattern with regard to volume of exports of baking soda. At the same time, Cote d'Ivoire (X%), Ghana (X%) and Mali (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Nigeria (X%) illustrated a downward trend over the same period. Senegal (X p.p.), Ghana (X p.p.), Mali (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by X% from 2012 to 2023, respectively.
In value terms, Senegal ($X) remains the largest baking soda supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Mali ($X), with an X% share of total exports. It was followed by Nigeria, with a X% share.
From 2012 to 2023, the average annual growth rate of value in Senegal was relatively modest. In the other countries, the average annual rates were as follows: Mali (X% per year) and Nigeria (X% per year).
Export Prices by Country
In 2023, the export price in ECOWAS amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible expansion. The pace of growth was the most pronounced in 2019 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then shrank significantly in the following year.
There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Ghana ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.
Baking Soda Imports
Imports in ECOWAS
In 2023, baking soda imports in ECOWAS declined to X tons, which is down by X% compared with the previous year. In general, imports, however, saw a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.
In value terms, baking soda imports reduced to $X in 2023. Over the period under review, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2022, and then reduced in the following year.
Imports by Country
In 2023, Nigeria (X tons) was the main importer of baking soda, achieving X% of total imports. Senegal (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Niger (X%), Burkina Faso (X%), Ghana (X%) and Cote d'Ivoire (X%). Benin (X tons) and Togo (X tons) took a minor share of total imports.
From 2012 to 2023, average annual rates of growth with regard to baking soda imports into Nigeria stood at X%. At the same time, Benin (X%), Burkina Faso (X%), Togo (X%), Senegal (X%), Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Niger (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Burkina Faso (X p.p.), Senegal (X p.p.), Benin (X p.p.) and Togo (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Ghana (X p.p.) and Niger (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Nigeria ($X) constitutes the largest market for imported baking soda in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Burkina Faso ($X), with an X% share of total imports. It was followed by Niger, with a X% share.
In Nigeria, baking soda imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Burkina Faso (X% per year) and Niger (X% per year).
Import Prices by Country
The import price in ECOWAS stood at $X per ton in 2023, dropping by X% against the previous year. In general, the import price, however, showed temperate growth. The growth pace was the most rapid in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2022, and then declined in the following year.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per ton), while Senegal ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the baking soda market in ECOWAS. 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:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- 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
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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
- CONSUMPTION BY COUNTRY
- 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
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- 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 -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 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
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 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, 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, 2012–2023
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