Chile: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Chile

In 2021, the Chilean medicaments containing vitamins market decreased by -1% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +45.4% against 2017 indices. 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 Chile

In value terms, medicaments containing vitamins production fell slightly to $X in 2021 estimated in export price. In general, the total production indicated a strong expansion 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, production increased by +52.2% against 2017 indices. The pace of growth was the most pronounced in 2014 with an increase of 45% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then fell slightly in the following year.

Medicaments Containing Vitamins Exports

Exports from Chile

In 2021, overseas shipments of medicaments containing vitamins and provitamins were finally on the rise to reach X tons after five years of decline. Overall, exports, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2015 when exports increased by 21% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, medicaments containing vitamins exports soared to $X in 2021. Over the period under review, exports, however, saw a abrupt curtailment. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Paraguay (X tons), Bolivia (X tons) and Ecuador (X tons) were the main destinations of medicaments containing vitamins exports from Chile, with a combined 68% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Paraguay (with a CAGR of +5.4%), while shipments for the other leaders experienced a decline.

In value terms, Paraguay ($X), Bolivia ($X) and Peru ($X) appeared to be the largest markets for medicaments containing vitamins exported from Chile worldwide, with a combined 66% share of total exports.

Paraguay, with a CAGR of +9.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average medicaments containing vitamins export price stood at $X per ton in 2021, surging by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.8%. The growth pace was the most rapid in 2018 when the average export price increased by 25%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Ecuador ($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 Peru (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Vitamins Imports

Imports into Chile

In 2021, supplies from abroad of medicaments containing vitamins and provitamins increased by 18% to X tons, rising for the second consecutive year after two years of decline. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 28% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, medicaments containing vitamins imports rose markedly to $X in 2021. The total import value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 43% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Mexico (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of medicaments containing vitamins imports to Chile, with a combined 45% share of total imports. These countries were followed by Spain, Colombia, Argentina, Uruguay, Brazil, China, India, Switzerland, South Korea and New Zealand, which together accounted for a further 48%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +108.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of medicaments containing vitamins and provitamins to Chile, comprising 30% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports. It was followed by Argentina, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value from Mexico totaled +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.6% per year) and Argentina (-6.4% per year).

Import Prices by Country

The average medicaments containing vitamins import price stood at $X per ton in 2021, which is down by -10% against the previous year. Over the period under review, import price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, medicaments containing vitamins import price increased by +58.3% against 2017 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 37%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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