Italy: Vitamin Market 2024

Vitamin Market Size in Italy

For the third year in a row, the Italian vitamin market recorded decline in sales value, which decreased by X% to $X in 2023. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Vitamin Production in Italy

In value terms, vitamin production dropped to $X in 2023 estimated in export price. Over the period under review, the total production indicated a remarkable 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, production increased by X% against 2021 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Vitamin Exports

Exports from Italy

Vitamin exports from Italy soared to X tons in 2023, picking up by X% against 2022. In general, exports saw a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, vitamin exports shrank to $X in 2023. Overall, exports posted a moderate increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. The exports peaked at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for vitamin exports from Italy, with a X% share of total exports. Moreover, vitamin exports to the Netherlands exceeded the volume sent to the second major destination, Spain (X tons), fivefold. The United States (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the Netherlands stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and the United States (X% per year).

In value terms, the largest markets for vitamin exported from Italy were the Netherlands ($X), the United States ($X) and Spain ($X), with a combined X% share of total exports.

The Netherlands, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average vitamin export price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price recorded a pronounced downturn. The growth pace was the most rapid in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Algeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into Italy

In 2023, purchases abroad of provitamins and vitamins was finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. Overall, total imports indicated a noticeable increase from 2012 to 2023: its volume 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. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports reached the maximum in 2023 and are likely to continue growth in the immediate term.

In value terms, vitamin imports rose remarkably to $X in 2023. In general, total imports indicated a pronounced 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, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2023, imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), China (X tons) and Germany (X tons) were the main suppliers of vitamin imports to Italy, together comprising X% of total imports. France, Belgium, Poland, Spain and Slovenia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Slovenia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of provitamins and vitamins to Italy, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by China, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from the Netherlands amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and China (X% per year).

Import Prices by Country

In 2023, the average vitamin import price amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price recorded a mild downturn. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform