Canada: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Canada

In 2021, the Canadian medicaments containing vitamins market decreased by -5.3% to $X for the first time since 2014, thus ending a six-year rising trend. In general, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020, and then reduced in the following year.

Medicaments Containing Vitamins Production in Canada

In value terms, medicaments containing vitamins production reached $X in 2021 estimated in export price. Over the period under review, the total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.5% against 2017 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 27%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Medicaments Containing Vitamins Exports

Exports from Canada

Medicaments containing vitamins exports from Canada surged to X tons in 2021, growing by 37% compared with the previous year's figure. Over the period under review, exports recorded a prominent expansion. The growth pace was the most rapid in 2014 when exports increased by 110%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, medicaments containing vitamins exports surged to $X in 2021. Overall, exports showed a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of 95%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for medicaments containing vitamins exports from Canada, accounting for a 45% share of total exports. Moreover, medicaments containing vitamins exports to the United States exceeded the volume sent to the second major destination, Saudi Arabia (X tons), sevenfold. The third position in this ranking was held by Mexico (X tons), with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+68.1% per year) and Mexico (+137.3% per year).

In value terms, the United States ($X) remains the key foreign market for medicaments containing vitamins and provitamins exports from Canada, comprising 41% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 14% share of total exports. It was followed by Saudi Arabia, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+60.8% per year) and Saudi Arabia (+65.2% per year).

Export Prices by Country

The average medicaments containing vitamins export price stood at $X per ton in 2021, reducing by -8.9% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average export price increased by 3.3%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Kuwait ($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 United Arab Emirates (+5.0%), while the prices for the other major destinations experienced a decline.

Medicaments Containing Vitamins Imports

Imports into Canada

In 2021, purchases abroad of medicaments containing vitamins and provitamins increased by 28% to X tons, rising for the fourth year in a row after two years of decline. Overall, total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +3.8% 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 +93.5% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, medicaments containing vitamins imports surged to $X in 2021. Over the period under review, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% 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 +101.2% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest medicaments containing vitamins supplier to Canada, with a 63% share of total imports. Moreover, medicaments containing vitamins imports from the United States exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), sixfold. The third position in this ranking was held by the Netherlands (X tons), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+7.9% per year) and the Netherlands (+56.7% per year).

In value terms, the United States ($X) constituted the largest supplier of medicaments containing vitamins and provitamins to Canada, comprising 63% of total imports. The second position in the ranking was taken by Switzerland ($X), with a 9.7% share of total imports. It was followed by the Netherlands, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+9.7% per year) and the Netherlands (+59.2% per year).

Import Prices by Country

The average medicaments containing vitamins import price stood at $X per ton in 2021, surging by 1.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2014 an increase of 5.5%. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were South Korea ($X per ton) and Spain ($X per ton), while the price for France ($X per ton) and Switzerland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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