Canada: Vitamin Market 2024

Vitamin Market Size in Canada

The Canadian vitamin market expanded to $X in 2021, surging by 1.8% against the previous year. The market value increased at an average annual rate of +6.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Vitamin Production in Canada

In value terms, vitamin production stood at $X in 2021 estimated in export price. Over the period under review, the total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.5% 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 -13.3% against 2014 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 72% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Vitamin Exports

Exports from Canada

For the third year in a row, Canada recorded growth in overseas shipments of provitamins and vitamins, which increased by 77% to X tons in 2021. Overall, exports continue to indicate a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, vitamin exports surged to $X in 2021. In general, total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +107.2% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for vitamin exports from Canada, accounting for a 43% share of total exports. Moreover, vitamin exports to the United States exceeded the volume sent to the second major destination, the Philippines (X tons), threefold. Denmark (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+47.3% per year) and Denmark (+213.6% per year).

In value terms, the largest markets for vitamin exported from Canada were the United States ($X), Denmark ($X) and the Czech Republic ($X), together accounting for 66% of total exports.

Denmark, with a CAGR of +244.0%, recorded 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

In 2021, the average vitamin export price amounted to $X per ton, declining by -19% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 28% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to the Philippines ($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 Iran (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into Canada

In 2021, imports of provitamins and vitamins into Canada totaled X tons, picking up by 8.2% on 2020. Over the period under review, imports saw a measured increase. The most prominent rate of growth was recorded in 2018 with an increase of 54% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, vitamin imports rose markedly to $X in 2021. Overall, total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.8% against 2018 indices. The growth pace was the most rapid in 2017 with an increase of 30% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), the United States (X tons) and Switzerland (X tons) were the main suppliers of vitamin imports to Canada, together comprising 84% of total imports. Germany, France, India and the UK lagged somewhat behind, together comprising a further 13%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +20.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Switzerland ($X) were the largest vitamin suppliers to Canada, together comprising 79% of total imports. France, Germany, the UK and India lagged somewhat behind, together comprising a further 16%.

India, with a CAGR of +23.5%, saw the highest rates of growth with regard to the value of imports, among 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 vitamin import price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 46%. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 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 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 (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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