Belgium: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Belgium

The Belgian medicaments containing vitamins market surged to $X in 2021, increasing by 152% against the previous year. Overall, consumption saw a resilient increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Medicaments Containing Vitamins Production in Belgium

In value terms, medicaments containing vitamins production declined to $X in 2021 estimated in export price. Overall, the total production indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 48% against the previous year. Medicaments containing vitamins production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Medicaments Containing Vitamins Exports

Exports from Belgium

In 2021, shipments abroad of medicaments containing vitamins and provitamins increased by 19% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports posted a remarkable increase. The growth pace was the most rapid in 2020 when exports increased by 143%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, medicaments containing vitamins exports expanded markedly to $X in 2021. In general, exports showed a strong increase. The pace of growth was the most pronounced in 2020 when exports increased by 175%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The Netherlands (X tons), Germany (X tons) and Denmark (X tons) were the main destinations of medicaments containing vitamins exports from Belgium, with a combined 57% share of total exports. These countries were followed by Poland, the UK, Greece, Spain, Saudi Arabia, the United Arab Emirates, Italy, Ireland, Angola and Luxembourg, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Angola (with a CAGR of +93.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Germany ($X) and the UK ($X) appeared to be the largest markets for medicaments containing vitamins exported from Belgium worldwide, together comprising 35% of total exports. These countries were followed by Italy, Poland, Luxembourg, Spain, Denmark, Greece, Ireland, the United Arab Emirates, Saudi Arabia and Angola, which together accounted for a further 29%.

Angola, with a CAGR of +89.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average medicaments containing vitamins export price stood at $X per ton in 2021, reducing by -9.8% against the previous year. Overall, the export price showed a deep slump. The most prominent rate of growth was recorded in 2018 an increase of 45%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to Denmark ($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 the UK (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Vitamins Imports

Imports into Belgium

In 2021, purchases abroad of medicaments containing vitamins and provitamins increased by 79% to X tons, rising for the fifth year in a row after three years of decline. Over the period under review, imports saw strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, medicaments containing vitamins imports surged to $X in 2021. Overall, imports recorded a noticeable expansion. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest medicaments containing vitamins supplier to Belgium, with a 69% share of total imports. Moreover, medicaments containing vitamins imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The third position in this ranking was held by France (X tons), with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands amounted to +44.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+22.2% per year) and France (-14.8% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of medicaments containing vitamins and provitamins to Belgium, comprising 49% of total imports. The second position in the ranking was taken by Germany ($X), with a 24% share of total imports. It was followed by France, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands totaled +22.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+19.7% per year) and France (-17.8% per year).

Import Prices by Country

In 2021, the average medicaments containing vitamins import price amounted to $X per ton, declining by -11.8% against the previous year. In general, the import price continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2020 when the average import price increased by 32%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a 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 Italy ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (-0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :