Australia: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Australia

In 2021, the Australian medicaments containing vitamins market decreased by -5% to $X, falling for the second consecutive year after two years of growth. In general, consumption saw a relatively flat trend pattern. Medicaments containing vitamins consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Medicaments Containing Vitamins Production in Australia

In value terms, medicaments containing vitamins production dropped to $X in 2021 estimated in export price. In general, production, however, saw strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 64%. Medicaments containing vitamins production peaked at $X in 2020, and then contracted in the following year.

Medicaments Containing Vitamins Exports

Exports from Australia

After six years of growth, shipments abroad of medicaments containing vitamins and provitamins decreased by -17.3% to X tons in 2021. Overall, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 115%. Over the period under review, the exports hit record highs at X tons in 2020, and then dropped dramatically in the following year.

In value terms, medicaments containing vitamins exports expanded markedly to $X in 2021. In general, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 47% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

China (X tons) was the main destination for medicaments containing vitamins exports from Australia, with a 54% share of total exports. Moreover, medicaments containing vitamins exports to China exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), twofold. The third position in this ranking was held by Vietnam (X tons), with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume to China totaled +67.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+53.8% per year) and Vietnam (+28.9% per year).

In value terms, China ($X) remains the key foreign market for medicaments containing vitamins and provitamins exports from Australia, comprising 48% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 19% share of total exports. It was followed by Vietnam, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +64.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+48.3% per year) and Vietnam (+23.6% per year).

Export Prices by Country

In 2021, the average medicaments containing vitamins export price amounted to $X per ton, picking up by 37% against the previous year. In general, the export price, however, showed a deep setback. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

Medicaments Containing Vitamins Imports

Imports into Australia

In 2021, purchases abroad of medicaments containing vitamins and provitamins decreased by -24.4% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, imports showed a slight slump. The most prominent rate of growth was recorded in 2013 when imports increased by 63% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, medicaments containing vitamins imports shrank significantly to $X in 2021. In general, imports showed a slight shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 33% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the UK (X tons) constituted the largest supplier of medicaments containing vitamins to Australia, accounting for a 40% share of total imports. Moreover, medicaments containing vitamins imports from the UK exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume from the UK amounted to +23.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+3.2% per year) and Germany (+2.0% per year).

In value terms, the largest medicaments containing vitamins suppliers to Australia were the UK ($X), Germany ($X) and Indonesia ($X), together accounting for 60% of total imports. These countries were followed by China, the United States, France, the Netherlands, New Zealand, Switzerland, South Korea, Thailand, Spain and Canada, which together accounted for a further 30%.

Thailand, with a CAGR of +34.9%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average medicaments containing vitamins import price stood at $X per ton in 2021, approximately equating the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 37%. Over the period under review, average import prices attained the peak figure at $X per ton in 2020, and then fell in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+28.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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