Europe: Vitamin Market 2024

Vitamin Market Size in Europe

The Europe vitamin market fell to $X in 2023, waning by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2022, and then shrank in the following year.

Vitamin Production in Europe

In value terms, vitamin production shrank slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2022, and then dropped in the following year.

Vitamin Exports

Exports in Europe

In 2023, overseas shipments of provitamins and vitamins decreased by X% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports, however, continue to indicate a noticeable expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports attained the peak of X tons. From 2021 to 2023, the growth of the exports failed to regain momentum.

In value terms, vitamin exports dropped rapidly to $X in 2023. Overall, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, the Netherlands (X tons) represented the major exporter of provitamins and vitamins, achieving X% of total exports. Germany (X tons) held the second position in the ranking, followed by France (X tons), Belgium (X tons), Switzerland (X tons) and Spain (X tons). All these countries together held approx. X% share of total exports. Italy (X tons) followed a long way behind the leaders.

Exports from the Netherlands increased at an average annual rate of X% from 2012 to 2023. At the same time, Switzerland (X%), Italy (X%) and Spain (X%) displayed positive paces of growth. Moreover, Switzerland emerged as the fastest-growing exporter exported in Europe, with a CAGR of X% from 2012-2023. France experienced a relatively flat trend pattern. By contrast, Germany (X%) and Belgium (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Netherlands, Switzerland and Spain increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest vitamin supplier in Europe, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2023, the average annual growth rate of value in the Netherlands amounted to X%. In the other countries, the average annual rates were as follows: Germany (X% per year) and France (X% per year).

Export Prices by Country

In 2023, the export price in Europe amounted to $X per ton, falling by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Belgium ($X per ton) was amongst the lowest.

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

Vitamin Imports

Imports in Europe

In 2023, purchases abroad of provitamins and vitamins decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. Total imports indicated a temperate expansion from 2012 to 2023: its volume 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. The pace of growth appeared the most rapid in 2020 when imports increased by X%. The volume of import peaked at X tons in 2022, and then reduced in the following year.

In value terms, vitamin imports shrank notably to $X in 2023. Total imports 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. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. The level of import peaked at $X in 2022, and then shrank significantly in the following year.

Imports by Country

The Netherlands (X tons) and Germany (X tons) represented roughly X% of total imports in 2023. It was distantly followed by Belgium (X tons), France (X tons), Spain (X tons) and Italy (X tons), together making up a X% share of total imports. Poland (X tons), the UK (X tons), Russia (X tons), Romania (X tons), Portugal (X tons), Denmark (X tons) and Austria (X tons) took a minor share of total imports.

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

In value terms, the largest vitamin importing markets in Europe were the Netherlands ($X), Germany ($X) and France ($X), together accounting for X% of total imports.

Among the main importing countries, the Netherlands, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Europe amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2023, the import prices remained at a lower figure.

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

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

Source: IndexBox Platform