Africa: Vitamin Market 2024

Vitamin Market Size in Africa

In 2021, after five years of growth, there was decline in the African vitamin market, when its value decreased by -4.4% to $X. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +98.5% against 2012 indices. Over the period under review, the market hit record highs at $X in 2020, and then dropped in the following year.

Vitamin Production in Africa

In value terms, vitamin production contracted slightly to $X in 2021 estimated in export price. In general, production, however, saw a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 34% against the previous year. Over the period under review, production attained the maximum level at $X in 2020, and then shrank slightly in the following year.

Vitamin Exports

Exports in Africa

For the third consecutive year, Africa recorded growth in overseas shipments of provitamins and vitamins, which increased by 24% to X tons in 2021. In general, exports showed buoyant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 45% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, vitamin exports soared to $X in 2021. Total exports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +24.5% against 2017 indices. The growth pace was the most rapid in 2017 with an increase of 40%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The biggest shipments were from South Africa (X tons), together amounting to 97% of total export.

South Africa was also the fastest-growing in terms of the provitamins and vitamins exports, with a CAGR of +11.1% from 2012 to 2021. While the share of South Africa (+21 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest vitamin supplier in Africa.

In South Africa, vitamin exports expanded at an average annual rate of +4.9% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Africa amounted to $X per ton, leveling off at the previous year. Overall, the export price showed a pronounced decline. The pace of growth was the most pronounced in 2016 an increase of 41%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2021, the rate of growth in terms of prices for South Africa amounted to -5.6% per year.

Vitamin Imports

Imports in Africa

In 2021, after four years of growth, there was decline in supplies from abroad of provitamins and vitamins, when their volume decreased by -1% to X tons. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +61.0% against 2016 indices. The pace of growth was the most pronounced in 2020 when imports increased by 21%. As a result, imports attained the peak of X tons, leveling off in the following year.

In value terms, vitamin imports amounted to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +50.1% against 2014 indices. The most prominent rate of growth was recorded in 2017 with an increase of 25% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

The purchases of the three major importers of provitamins and vitamins, namely South Africa, Nigeria and Algeria, represented more than half of total import. It was distantly followed by Egypt (X tons), mixing up a 7.9% share of total imports. The following importers - Namibia (X tons), Morocco (X tons), Tunisia (X tons), Ghana (X tons), Senegal (X tons) and Kenya (X tons) - together made up 18% of total imports.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of +19.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constitutes the largest market for imported provitamins and vitamins in Africa, comprising 28% of total imports. The second position in the ranking was taken by Egypt ($X), with a 13% share of total imports. It was followed by Nigeria, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in South Africa stood at +5.0%. In the other countries, the average annual rates were as follows: Egypt (+3.4% per year) and Nigeria (+6.9% per year).

Import Prices by Country

In 2021, the import price in Africa amounted to $X per ton, almost unchanged from the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 13%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Egypt ($X per ton), while Namibia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kenya (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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