Latest Report Update: May 20, 2023
Mexico - Provitamins And Vitamins - Market Analysis, Forecast, Size, Trends and Insights
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Article Publishing Date: May 20, 2023
Vitamin Price in Mexico Slumps 14% to $10.5 per kg After Four Consecutive Months of Decline
Mexico Vitamin Import Price in January 2023
In January 2023, the vitamin price amounted to $10,469 per ton (CIF, Mexico), waning by -13.7% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in March 2022 when the average import price increased by 27% against the previous month. Over the period under review, average import prices reached the maximum at $15,035 per ton in June 2022; however, from July 2022 to January 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was India ($130K per ton), while the price for China ($9,380 per ton) was amongst the lowest.
From January 2022 to January 2023, the most notable rate of growth in terms of prices was attained by the UK (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.
| COUNTRY | Import Price of Vitamin in Mexico (USD per ton) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 2022 | Feb 2022 | Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | |
| India | N/A | 123,658 | N/A | 7,643 | N/A | N/A | N/A | 10,025 | N/A | 9,152 | N/A | 8,262 | 130,235 |
| United States | 10,811 | 16,520 | 14,834 | 15,880 | 18,295 | 34,138 | 31,004 | 20,809 | 18,232 | 23,590 | 12,959 | 23,801 | 14,279 |
| Germany | 15,517 | 15,861 | 25,171 | N/A | 29,151 | 13,637 | 19,130 | 16,443 | 49,757 | 18,325 | 29,427 | 70,761 | 12,901 |
| Switzerland | 127,145 | 7,139 | 16,012 | 26,697 | 15,852 | 14,081 | 8,011 | 9,827 | 8,776 | 14,381 | 11,452 | 12,865 | 10,067 |
| China | 9,604 | 11,276 | 11,260 | 9,965 | 10,313 | 12,790 | 12,181 | 10,283 | 11,368 | 7,816 | 10,625 | 8,754 | 9,380 |
| United Kingdom | N/A | N/A | N/A | 12,032 | N/A | 21,547 | N/A | N/A | 22,759 | 40,305 | 28,235 | N/A | N/A |
| Average | 10,194 | 11,252 | 14,323 | 11,343 | 12,863 | 15,035 | 13,281 | 11,690 | 14,307 | 13,470 | 12,774 | 12,129 | 10,469 |
Mexico Vitamin Import Prices by Type
Prices varied noticeably by the product type; the product with the highest price was vitamins; vitamin B12 and its derivatives, unmixed ($367K per ton), while the price for vitamins; vitamin c and its derivatives, unmixed ($5,261 per ton) was amongst the lowest.
From January 2022 to January 2023, the most notable rate of growth in terms of prices was attained by vitamins; vitamin B2 and its derivatives, unmixed (+5.1%), while the prices for the other products experienced more modest paces of growth.
Mexico Vitamin Imports
In January 2023, supplies from abroad of provitamins and vitamins was finally on the rise to reach 1.3K tons after three months of decline. In general, total imports indicated a notable expansion from January 2022 to January 2023: its volume increased at an average monthly rate of +3.6% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on January 2023 figures, imports increased by +117.8% against December 2022 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, vitamin imports surged to $14M (IndexBox estimates) in January 2023. Over the period under review, total imports indicated a notable expansion from January 2022 to January 2023: its value increased at an average monthly rate of +3.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on January 2023 figures, imports increased by +88.0% against December 2022 indices.
Mexico Vitamin Imports by Type
Vitamins; vitamin e and its derivatives, unmixed (468 tons), vitamins; vitamin c and its derivatives, unmixed (416 tons) and vitamins; n.e.s. in item no. 2936.2, and their derivatives, unmixed (231 tons) were the main products of vitamin imports to Mexico, together comprising 84% of total imports. These products were followed by vitamins; d- or DL-pantothenic acid (vitamin B3 or vitamin B5) and its derivatives, unmixed, vitamins; vitamins a and their derivatives, unmixed, vitamins; vitamin B1 and its derivatives, unmixed, vitamins; vitamin B6 and its derivatives, unmixed, vitamins; vitamin B2 and its derivatives, unmixed, vitamins; n.e.s. in heading no. 2936, including natural concentrates and vitamins; vitamin B12 and its derivatives, unmixed, which together accounted for a further 16%.
From January 2022 to January 2023, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by vitamins; d- or DL-pantothenic acid (vitamin B3 or vitamin B5) and its derivatives, unmixed (with a CAGR of +22.9%), while imports for the other products experienced more modest paces of growth.
In value terms, vitamins; vitamin e and its derivatives, unmixed ($4.7M), vitamins; n.e.s. in item no. 2936.2, and their derivatives, unmixed ($2.3M) and vitamins; vitamin c and its derivatives, unmixed ($2.2M) constituted the most imported types of provitamins and vitamins in Mexico, with a combined 66% share of total imports. Vitamins; d- or DL-pantothenic acid (vitamin B3 or vitamin B5) and its derivatives, unmixed, vitamins; vitamins a and their derivatives, unmixed, vitamins; vitamin B1 and its derivatives, unmixed, vitamins; vitamin B6 and its derivatives, unmixed, vitamins; vitamin B12 and its derivatives, unmixed, vitamins; vitamin B2 and its derivatives, unmixed and vitamins; n.e.s. in heading no. 2936, including natural concentrates lagged somewhat behind, together comprising a further 34%.
Mexico Vitamin Imports by Country
In January 2023, China (969 tons) constituted the largest supplier of vitamin to Mexico, with a 73% share of total imports. Moreover, vitamin imports from China exceeded the figures recorded by the second-largest supplier, the United States (169 tons), sixfold. The third position in this ranking was taken by Germany (123 tons), with a 9.2% share.
From January 2022 to January 2023, the average monthly growth rate of volume from China stood at +2.8%. The remaining supplying countries recorded the following average monthly rates of imports growth: the United States (+1.4% per month) and Germany (+12.4% per month).
In value terms, China ($9.1M) constituted the largest supplier of vitamin to Mexico, comprising 65% of total imports. The second position in the ranking was held by the United States ($2.4M), with a 17% share of total imports. It was followed by Germany, with an 11% share.
From January 2022 to January 2023, the average monthly growth rate of value from China totaled +2.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: the United States (+3.7% per month) and Germany (+10.7% per month).
This report provides an in-depth analysis of the vitamin market in Mexico. 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 21105100 - Provitamins and vitamins, natural or reproduced by synthesis (including natural concentrates), derivatives thereof used primarily as vitamins, and intermixtures of the foregoing, w hether or not in any solvent
Country coverage:
• Mexico
Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Mexico
• 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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
MARKET TRENDS
This Chapter is Available Only for the Professional Edition
PRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2012-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2022
Figure 5:
Trade Balance, In Physical Terms, 2012-2022
Figure 6:
Trade Balance, In Value Terms, 2012-2022
Figure 7:
Per Capita Consumption, 2012-2022
Figure 8:
Market Volume Forecast to 2030
Figure 9:
Market Value Forecast to 2030
Figure 10:
Products: Market Size And Growth, By Type
Figure 11:
Products: Average Per Capita Consumption, By Type
Figure 12:
Products: Exports And Growth, By Type
Figure 13:
Products: Export Prices And Growth, By Type
Figure 14:
Production Volume And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2012–2022
Figure 22:
Production, In Value Terms, 2012–2022
Figure 23:
Imports, In Physical Terms, 2012–2022
Figure 24:
Imports, In Value Terms, 2012–2022
Figure 25:
Imports, In Physical Terms, By Country, 2022
Figure 26:
Imports, In Physical Terms, By Country, 2012–2022
Figure 27:
Imports, In Value Terms, By Country, 2012–2022
Figure 28:
Import Prices, By Country Of Origin, 2012–2022
Figure 29:
Exports, In Physical Terms, 2012–2022
Figure 30:
Exports, In Value Terms, 2012–2022
Figure 31:
Exports, In Physical Terms, By Country, 2022
Figure 32:
Exports, In Physical Terms, By Country, 2012–2022
Figure 33:
Exports, In Value Terms, By Country, 2012–2022
Figure 34:
Export Prices, By Country Of Destination, 2012–2022
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