India: Vitamin Market 2024

Vitamin Market Size in India

The Indian vitamin market contracted slightly to $X in 2022, remaining stable against the previous year. Over the period under review, consumption showed a noticeable curtailment. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Vitamin Production in India

In value terms, vitamin production dropped to $X in 2022 estimated in export price. Over the period under review, production recorded a mild setback. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Vitamin Exports

Exports from India

Vitamin exports from India declined remarkably to X tons in 2022, falling by X% on the previous year. In general, total exports indicated buoyant growth from 2012 to 2022: its volume 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 pace of growth was the most pronounced in 2013 with an increase of X%. The exports peaked at X tons in 2021, and then declined significantly in the following year.

In value terms, vitamin exports declined to $X in 2022. Over the period under review, exports, however, saw a buoyant increase. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then shrank in the following year.

Exports by Country

The United States (X tons), Belgium (X tons) and the United Arab Emirates (X tons) were the main destinations of vitamin exports from India, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for provitamins and vitamins exports from India, comprising X% of total exports. The second position in the ranking was taken by Belgium ($X), with a X% share of total exports. It was followed by France, with a X% share.

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

Export Prices by Country

The average vitamin export price stood at $X per ton in 2022, surging by X% against the previous year. In general, export price indicated a moderate increase from 2012 to 2022: its price 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. Based on 2022 figures, vitamin export price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2018 an increase of X%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Belgium ($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 South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into India

In 2022, approx. X tons of provitamins and vitamins were imported into India; increasing by X% against the year before. Over the period under review, imports showed a strong increase. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, vitamin imports fell to $X in 2022. In general, imports posted a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of vitamin to India, with a X% share of total imports. Moreover, vitamin imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), eightfold. The third position in this ranking was taken by the Netherlands (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (X% per year) and the Netherlands (X% per year).

In value terms, China ($X) constituted the largest supplier of provitamins and vitamins to India, comprising X% of total imports. The second position in the ranking was taken by Singapore ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (X% per year) and Germany (X% per year).

Import Prices by Country

The average vitamin import price stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the import price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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