Finland: Vitamin Market Overview 2020

Vitamin Market Size in Finland

The revenue of the vitamin market in Finland amounted to $X in 2018, rising by 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, vitamin consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% y-o-y. Over the period under review, the vitamin market attained its maximum level at $X in 2011; however, from 2012 to 2018, consumption stood at a somewhat lower figure.

Vitamin Exports

Exports from Finland

In 2018, the amount of provitamins and vitamins exported from Finland stood at X tonnes, falling by -X% against the previous year. In general, vitamin exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. In that year, vitamin exports reached their peak of X tonnes. From 2015 to 2018, the growth of vitamin exports remained at a lower figure.

In value terms, vitamin exports totaled $X in 2018. Overall, vitamin exports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2008 when exports increased by X% y-o-y. Exports peaked at $X in 2014; however, from 2015 to 2018, exports stood at a somewhat lower figure.

Exports by Country

Ireland (X tonnes) was the main destination for vitamin exports from Finland, with a X% share of total exports. Moreover, vitamin exports to Ireland exceeded the volume sent to the second major destination, Latvia (X tonnes), threefold. The third position in this ranking was occupied by Portugal (X tonnes), with a X% share.

From 2007 to 2018, the average annual rate of growth in terms of volume to Ireland stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+X% per year) and Portugal (-X% per year).

In value terms, Ireland ($X), Sweden ($X) and Portugal ($X) constituted the largest markets for vitamin exported from Finland worldwide, with a combined X% share of total exports. Latvia, Denmark, Estonia, the UK and Lithuania lagged somewhat behind, together comprising a further X terms of the main countries of destination, Denmark (+X% per year) experienced the highest growth rate of exports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average vitamin export price amounted to $X per tonne, lowering by -X% against the previous year. Over the period under review, the vitamin export price continues to indicate a temperate slump. The pace of growth appeared the most rapid in 2008 when the average export price increased by X% against the previous year. The export price peaked at $X per tonne in 2013; however, from 2014 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Sweden ($X per tonne), while the average price for exports to Ireland ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Sweden, while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into Finland

In 2018, the imports of provitamins and vitamins into Finland stood at X tonnes, picking up by X% against the previous year. Overall, the total imports indicated a slight expansion from 2007 to 2018: 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. Based on 2018 figures, vitamin imports increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. In that year, vitamin imports reached their peak of X tonnes. From 2012 to 2018, the growth of vitamin imports failed to regain its momentum.

In value terms, vitamin imports stood at $X in 2018. Overall, the total imports indicated a significant increase from 2007 to 2018: 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 2018 figures, vitamin imports increased by +X% against 2012 indices. The pace of growth appeared the most rapid in 2011 when imports increased by X% y-o-y. In that year, vitamin imports attained their peak of $X. From 2012 to 2018, the growth of vitamin imports failed to regain its momentum.

Imports by Country

The UK (X tonnes), China (X tonnes) and Denmark (X tonnes) were the main suppliers of vitamin imports to Finland, with a combined X% share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by the UK, while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Belgium ($X) and the UK ($X) were the largest vitamin suppliers to Finland, with a combined X% share of total imports.

In terms of the main suppliers, Belgium recorded the highest growth rate of imports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vitamin import price stood at $X per tonne in 2018, shrinking by -X% against the previous year. Over the period from 2007 to 2018, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2008 when the average import price increased by X% year-to-year. Over the period under review, the average import prices for provitamins and vitamins reached their peak figure at $X per tonne in 2017, and then declined slightly in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was Norway ($X per tonne), while the price for the UK ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by France, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform