Report Update Nov 1, 2024

Azerbaijan - Provitamins and Vitamins - Market Analysis, Forecast, Size, Trends and Insights

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Azerbaijan: Vitamin Market 2024

Vitamin Market Size in Azerbaijan

In 2021, the Azerbaijani vitamin market increased by 23% to $X, rising for the second consecutive year after two years of decline. In general, consumption recorded a buoyant expansion. Over the period under review, the market reached the peak level in 2021 and is likely to see steady growth in the immediate term.

Vitamin Exports

Exports from Azerbaijan

In 2021, the amount of provitamins and vitamins exported from Azerbaijan contracted sharply to X tons, shrinking by -15.3% against the previous year's figure. Overall, exports, however, posted significant growth. The growth pace was the most rapid in 2020 with an increase of 37,400% against the previous year. As a result, the exports attained the peak of X tons, and then fell dramatically in the following year.

In value terms, vitamin exports declined to $X in 2021. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 5,764%. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

Uzbekistan (X tons) was the main destination for vitamin exports from Azerbaijan, with a 98% share of total exports. It was followed by Senegal (X kg), with a 2.1% share of total exports.

From 2013 to 2021, the average annual growth rate of volume to Uzbekistan was relatively modest.

In value terms, Uzbekistan ($X) emerged as the key foreign market for provitamins and vitamins exports from Azerbaijan, comprising 75% of total exports. The second position in the ranking was taken by Senegal ($X), with a 23% share of total exports.

From 2013 to 2021, the average annual growth rate of value to Uzbekistan was relatively modest.

Export Prices by Country

The average vitamin export price stood at $X per ton in 2021, growing by 6.9% against the previous year. Overall, the export price, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2019 an increase of 235% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while the average price for exports to Uzbekistan stood at $X per ton.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (0.0%), while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into Azerbaijan

In 2021, purchases abroad of provitamins and vitamins increased by 35% to X tons, rising for the second year in a row after two years of decline. Overall, imports enjoyed a buoyant increase. The growth pace was the most rapid in 2020 when imports increased by 204%. Imports peaked in 2021 and are likely to continue growth in the near future.

In value terms, vitamin imports dropped modestly to $X in 2021. Over the period under review, imports continue to indicate a noticeable expansion. The pace of growth was the most pronounced in 2020 when imports increased by 143%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

Belgium (X tons), Turkey (X tons) and Germany (X tons) were the main suppliers of vitamin imports to Azerbaijan, together accounting for 18% of total imports. These countries were followed by the United Arab Emirates, China, Poland, Denmark, Spain, Russia, the United States, Italy and Croatia, which together accounted for a further 14%.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +34.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Denmark ($X) and the United Arab Emirates ($X) constituted the largest vitamin suppliers to Azerbaijan, together accounting for 34% of total imports. China, Germany, Spain, Poland, Belgium, the United States, Italy, Russia and Croatia lagged somewhat behind, together comprising a further 23%.

China, with a CAGR of +47.1%, 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

In 2021, the average vitamin import price amounted to $X per ton, which is down by -26.5% against the previous year. Overall, the import price continues to indicate a drastic downturn. The growth pace was the most rapid in 2018 when the average import price increased by 75% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+58.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for provitamins and vitamins in the world?

The countries with the highest volumes of vitamin consumption in 2020 were India, China and the United States, together accounting for 53% of global consumption. Canada, Germany, Japan, the UK, Italy and France lagged somewhat behind, together comprising a further 21%.

What are the largest producers of provitamins and vitamins in the world?

The countries with the highest volumes of vitamin production in 2020 were China, India and Canada, with a combined 77% share of global production. Germany, Japan, Switzerland, the UK, Italy and France lagged somewhat behind, together comprising a further 14%.

What are the leading suppliers of provitamins and vitamins to Azerbaijan?

In value terms, Germany constituted the largest supplier of vitamin to Azerbaijan, comprising 55% of total imports. The second position in the ranking was occupied by Turkey, with a 22% share of total imports.

What is the average export price for provitamins and vitamins in Azerbaijan?

The average vitamin export price stood at $4,300 per ton in 2020, standing approx. at the previous year.

What is the average import price for provitamins and vitamins in Azerbaijan?

The average vitamin import price stood at $3,505 per ton in 2020, waning by -69.4% against the previous year.

This report provides an in-depth analysis of the vitamin market in Azerbaijan. 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:

Azerbaijan

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Azerbaijan
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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. 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. 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. 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. 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. 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. 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. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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