Dominican Republic: Vitamin Market 2024

Vitamin Market Size in the Dominican Republic

The Dominican vitamin market soared to $X in 2022, with an increase of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Vitamin consumption peaked in 2022 and is likely to see steady growth in the near future.

Vitamin Exports

Exports from the Dominican Republic

In 2022, exports of provitamins and vitamins from the Dominican Republic shrank notably to X tons, which is down by X% compared with 2021 figures. In general, exports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2016 with an increase of X%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, vitamin exports skyrocketed to $X in 2022. Overall, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Cuba (X tons), Haiti (X tons) and the Netherlands (X kg) were the main destinations of vitamin exports from the Dominican Republic, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Cuba ($X) remains the key foreign market for provitamins and vitamins exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was held by Haiti ($X), with a X% share of total exports. It was followed by the United States, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Cuba stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (X% per year) and the United States (X% per year).

Export Prices by Country

The average vitamin export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price recorded a resilient increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cuba (X%), while the prices for the other major destinations experienced mixed trend patterns.

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Vitamin Imports

Imports into the Dominican Republic

Vitamin imports into the Dominican Republic soared to X tons in 2022, picking up by X% on 2021 figures. Over the period under review, imports saw a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, vitamin imports skyrocketed to $X in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by X%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Germany (X tons) and Switzerland (X tons) were the main suppliers of vitamin imports to the Dominican Republic, together accounting for X% of total imports. Mexico, the United States, France, South Korea, India, Belgium, Guatemala and Spain lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and Mexico ($X) constituted the largest vitamin suppliers to the Dominican Republic, together comprising X% of total imports. Switzerland, France, the United States, India, South Korea, Belgium, Spain and Guatemala lagged somewhat behind, together accounting for a further X%.

South Korea, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vitamin import price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the import price saw a perceptible reduction. The growth pace was the most rapid in 2018 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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