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Mexico - Provitamins And Vitamins - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

Mexico - Provitamins And Vitamins - Market Analysis, Forecast, Size, Trends and Insights

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May 20, 2023

Vitamin Price in Mexico Slumps 14% to $10.5 per kg After Four Consecutive Months of Decline

Mexico Vitamin Import Price in January 2023

In January 2023, the vitamin price amounted to $10,469 per ton (CIF, Mexico), waning by -13.7% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in March 2022 when the average import price increased by 27% against the previous month. Over the period under review, average import prices reached the maximum at $15,035 per ton in June 2022; however, from July 2022 to January 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was India ($130K per ton), while the price for China ($9,380 per ton) was amongst the lowest.

From January 2022 to January 2023, the most notable rate of growth in terms of prices was attained by the UK (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

COUNTRYImport Price of Vitamin in Mexico (USD per ton)
Jan 2022Feb 2022Mar 2022Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023
IndiaN/A123,658N/A7,643N/AN/AN/A10,025N/A9,152N/A8,262130,235
United States10,81116,52014,83415,88018,29534,13831,00420,80918,23223,59012,95923,80114,279
Germany15,51715,86125,171N/A29,15113,63719,13016,44349,75718,32529,42770,76112,901
Switzerland127,1457,13916,01226,69715,85214,0818,0119,8278,77614,38111,45212,86510,067
China9,60411,27611,2609,96510,31312,79012,18110,28311,3687,81610,6258,7549,380
United KingdomN/AN/AN/A12,032N/A21,547N/AN/A22,75940,30528,235N/AN/A
Average10,19411,25214,32311,34312,86315,03513,28111,69014,30713,47012,77412,12910,469

Mexico Vitamin Import Prices by Type

Prices varied noticeably by the product type; the product with the highest price was vitamins; vitamin B12 and its derivatives, unmixed ($367K per ton), while the price for vitamins; vitamin c and its derivatives, unmixed ($5,261 per ton) was amongst the lowest.

From January 2022 to January 2023, the most notable rate of growth in terms of prices was attained by vitamins; vitamin B2 and its derivatives, unmixed (+5.1%), while the prices for the other products experienced more modest paces of growth.

Mexico Vitamin Imports

In January 2023, supplies from abroad of provitamins and vitamins was finally on the rise to reach 1.3K tons after three months of decline. In general, total imports indicated a notable expansion from January 2022 to January 2023: its volume increased at an average monthly rate of +3.6% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on January 2023 figures, imports increased by +117.8% against December 2022 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, vitamin imports surged to $14M (IndexBox estimates) in January 2023. Over the period under review, total imports indicated a notable expansion from January 2022 to January 2023: its value increased at an average monthly rate of +3.8% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on January 2023 figures, imports increased by +88.0% against December 2022 indices.

Mexico Vitamin Imports by Type

Vitamins; vitamin e and its derivatives, unmixed (468 tons), vitamins; vitamin c and its derivatives, unmixed (416 tons) and vitamins; n.e.s. in item no. 2936.2, and their derivatives, unmixed (231 tons) were the main products of vitamin imports to Mexico, together comprising 84% of total imports. These products were followed by vitamins; d- or DL-pantothenic acid (vitamin B3 or vitamin B5) and its derivatives, unmixed, vitamins; vitamins a and their derivatives, unmixed, vitamins; vitamin B1 and its derivatives, unmixed, vitamins; vitamin B6 and its derivatives, unmixed, vitamins; vitamin B2 and its derivatives, unmixed, vitamins; n.e.s. in heading no. 2936, including natural concentrates and vitamins; vitamin B12 and its derivatives, unmixed, which together accounted for a further 16%.

From January 2022 to January 2023, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by vitamins; d- or DL-pantothenic acid (vitamin B3 or vitamin B5) and its derivatives, unmixed (with a CAGR of +22.9%), while imports for the other products experienced more modest paces of growth.

In value terms, vitamins; vitamin e and its derivatives, unmixed ($4.7M), vitamins; n.e.s. in item no. 2936.2, and their derivatives, unmixed ($2.3M) and vitamins; vitamin c and its derivatives, unmixed ($2.2M) constituted the most imported types of provitamins and vitamins in Mexico, with a combined 66% share of total imports. Vitamins; d- or DL-pantothenic acid (vitamin B3 or vitamin B5) and its derivatives, unmixed, vitamins; vitamins a and their derivatives, unmixed, vitamins; vitamin B1 and its derivatives, unmixed, vitamins; vitamin B6 and its derivatives, unmixed, vitamins; vitamin B12 and its derivatives, unmixed, vitamins; vitamin B2 and its derivatives, unmixed and vitamins; n.e.s. in heading no. 2936, including natural concentrates lagged somewhat behind, together comprising a further 34%.

Mexico Vitamin Imports by Country

In January 2023, China (969 tons) constituted the largest supplier of vitamin to Mexico, with a 73% share of total imports. Moreover, vitamin imports from China exceeded the figures recorded by the second-largest supplier, the United States (169 tons), sixfold. The third position in this ranking was taken by Germany (123 tons), with a 9.2% share.

From January 2022 to January 2023, the average monthly growth rate of volume from China stood at +2.8%. The remaining supplying countries recorded the following average monthly rates of imports growth: the United States (+1.4% per month) and Germany (+12.4% per month).

In value terms, China ($9.1M) constituted the largest supplier of vitamin to Mexico, comprising 65% of total imports. The second position in the ranking was held by the United States ($2.4M), with a 17% share of total imports. It was followed by Germany, with an 11% share.

From January 2022 to January 2023, the average monthly growth rate of value from China totaled +2.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: the United States (+3.7% per month) and Germany (+10.7% per month).

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the vitamin market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 21105100 - Provitamins and vitamins, natural or reproduced by synthesis (including natural concentrates), derivatives thereof used primarily as vitamins, and intermixtures of the foregoing, w hether or not in any solvent

Country coverage:

  • Mexico

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Mexico
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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