Brazil: Vitamin Market 2024

Vitamin Market Size in Brazil

The Brazilian vitamin market surged to $X in 2021, with an increase of 17% against the previous year. Overall, the total consumption indicated a remarkable 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, consumption decreased by -10.0% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Vitamin Production in Brazil

In value terms, vitamin production reached $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 6.6%. Vitamin production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Vitamin Exports

Exports from Brazil

In 2021, the amount of provitamins and vitamins exported from Brazil soared to X tons, with an increase of 110% against 2020. Overall, exports recorded tangible growth. The pace of growth appeared the most rapid in 2016 when exports increased by 240%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, vitamin exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 223%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Argentina (X tons), China (X tons) and Guatemala (X tons) were the main destinations of vitamin exports from Brazil, together accounting for 75% of total exports. Chile, Uruguay, Paraguay, the United States and Venezuela lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +180.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X) remains the key foreign market for provitamins and vitamins exports from Brazil, comprising 37% of total exports. The second position in the ranking was held by China ($X), with a 12% share of total exports. It was followed by the United States, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Argentina amounted to -5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+55.0% per year) and the United States (+164.5% per year).

Export Prices by Country

The average vitamin export price stood at $X per ton in 2021, reducing by -19.6% against the previous year. Over the period under review, the export price saw a deep contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 97% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Guatemala ($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 Venezuela (+34.8%), while the prices for the other major destinations experienced a decline.

Vitamin Imports

Imports into Brazil

In 2021, vitamin imports into Brazil expanded markedly to X tons, picking up by 12% on the year before. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.9% 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 +69.0% against 2013 indices. The most prominent rate of growth was recorded in 2020 with an increase of 19% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, vitamin imports surged to $X in 2021. In general, imports recorded a buoyant expansion. The growth pace was the most rapid in 2018 when imports increased by 58% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of vitamin to Brazil, accounting for a 58% share of total imports. Moreover, vitamin imports from China exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+10.1% per year) and Germany (-2.1% per year).

In value terms, China ($X) constituted the largest supplier of provitamins and vitamins to Brazil, comprising 48% of total imports. The second position in the ranking was held by Switzerland ($X), with an 18% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+6.9% per year) and Germany (-3.5% per year).

Import Prices by Country

The average vitamin import price stood at $X per ton in 2021, increasing by 9.9% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 42% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average 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 France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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