Global Vitamin Market 2024

Vitamin Market Size

The global vitamin market was estimated at $X in 2022, stabilizing at the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the global market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Vitamin Production

In value terms, vitamin production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Over the period under review, global production attained the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Vitamin Exports

Exports

After two years of growth, shipments abroad of provitamins and vitamins decreased by X% to X tons in 2022. Over the period under review, total exports indicated a strong expansion 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. Based on 2022 figures, exports increased by X% against 2016 indices. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the global exports hit record highs at X tons in 2021, and then fell modestly in the following year.

In value terms, vitamin exports amounted to $X in 2022. Overall, exports, however, continue to indicate a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of X%. The global exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

China was the main exporting country with an export of around X tons, which recorded X% of total exports. The Netherlands (X tons) ranks second in terms of the total exports with an X% share, followed by Switzerland (X%), the United States (X%) and the UK (X%). Germany (X tons), Belgium (X tons), India (X tons), France (X tons), Australia (X tons) and Singapore (X tons) took a minor share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, the Netherlands (X%), Australia (X%), Switzerland (X%), India (X%), the UK (X%), the United States (X%) and Belgium (X%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, France (X%) and Singapore (X%) illustrated a downward trend over the same period. While the share of the Netherlands (X p.p.), China (X p.p.) and Switzerland (X p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Belgium (X p.p.), Singapore (X p.p.), France (X p.p.), Germany (X p.p.) and the United States (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest vitamin supplier worldwide, comprising X% of global exports. The second position in the ranking was held by the Netherlands ($X), with a X% share of global exports. It was followed by Switzerland, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to X%. In the other countries, the average annual rates were as follows: the Netherlands (X% per year) and Switzerland (X% per year).

Export Prices by Country

The average vitamin export price stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Australia ($X per ton), while China ($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 other global leaders experienced more modest paces of growth.

Vitamin Imports

Imports

Global vitamin imports totaled X tons in 2022, picking up by X% on 2021 figures. Overall, total imports indicated a pronounced increase 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. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, vitamin imports contracted to $X in 2022. In general, total imports indicated a notable expansion 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. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, global imports hit record highs at $X in 2021, and then shrank slightly in the following year.

Imports by Country

The United States (X tons) and the Netherlands (X tons) represented roughly X% of total imports in 2022. It was followed by Germany (X tons), mixing up an X% share of total imports. The following importers - Belgium (X tons), France (X tons), Brazil (X tons), Japan (X tons), Spain (X tons), Canada (X tons), Singapore (X tons), Italy (X tons), South Korea (X tons) and Indonesia (X tons) - together made up X% of total imports.

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

In value terms, the United States ($X), the Netherlands ($X) and Germany ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of global imports.

The Netherlands, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average vitamin import price stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Japan ($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 Netherlands (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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