China: Vitamin Market 2023

Vitamin Market Size in China

The Chinese vitamin market reduced notably to $X in 2021, declining by -25.1% against the previous year. Over the period under review, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -25.3% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Vitamin Production in China

In value terms, vitamin production dropped to $X in 2021 estimated in export price. Over the period under review, the total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +8.2% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 24% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Vitamin Exports

Exports from China

Vitamin exports from China was estimated at X tons in 2021, picking up by 4.6% against 2020 figures. In general, total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +107.4% against 2016 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 55%. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, vitamin exports expanded rapidly to $X in 2021. Overall, exports recorded buoyant growth. The pace of growth appeared the most rapid in 2017 with an increase of 46%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons), Germany (X tons) and the Netherlands (X tons) were the main destinations of vitamin exports from China, with a combined 44% share of total exports. Japan, Brazil, Indonesia, Vietnam, Thailand, South Korea, India, Belgium, Mexico and Singapore lagged somewhat behind, together comprising a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +15.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vitamin exported from China were the United States ($X), Germany ($X) and the Netherlands ($X), with a combined 46% share of total exports. These countries were followed by Japan, Brazil, India, Indonesia, Thailand, South Korea, Vietnam, Singapore, Mexico and Belgium, which together accounted for a further 27%.

Indonesia, with a CAGR of +14.2%, 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 2021, the average vitamin export price amounted to $X per ton, with an increase of 9.1% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average export price increased by 48% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+0.8%), while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into China

In 2021, the amount of provitamins and vitamins imported into China reduced rapidly to X tons, shrinking by -36.8% against the year before. Over the period under review, imports continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2016 when imports increased by 17%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, vitamin imports shrank dramatically to $X in 2021. Overall, imports continue to indicate a slight decline. The pace of growth appeared the most rapid in 2016 when imports increased by 22%. Over the period under review, imports reached the maximum at $X in 2020, and then contracted dramatically in the following year.

Imports by Country

Switzerland (X tons), Germany (X tons) and India (X tons) were the main suppliers of vitamin imports to China, with a combined 74% share of total imports. The United States, the UK, France and Denmark lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +8.0%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Switzerland ($X), Germany ($X) and the United States ($X) were the largest vitamin suppliers to China, together comprising 73% of total imports. These countries were followed by France, the UK, Denmark and India, which together accounted for a further 16%.

The UK, with a CAGR of +16.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average vitamin import price amounted to $X per ton, jumping by 28% against the previous year. Overall, the import price recorded a buoyant expansion. The pace of growth was the most pronounced in 2018 when the average import price increased by 29% against the previous year. The import price peaked in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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