CIS: Vitamin Market 2024

Vitamin Market Size in CIS

The CIS vitamin market expanded rapidly to $X in 2021, increasing by 5.1% against the previous year. In general, consumption enjoyed a resilient expansion. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in years to come.

Vitamin Production in CIS

In value terms, vitamin production rose rapidly to $X in 2021 estimated in export price. Overall, production enjoyed a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 30% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Vitamin Exports

Exports in CIS

In 2021, overseas shipments of provitamins and vitamins increased by 94% to X tons, rising for the second consecutive year after two years of decline. Overall, exports showed significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 138% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, vitamin exports skyrocketed to $X in 2021. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 128%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Russia represented the key exporter of provitamins and vitamins in the CIS, with the volume of exports accounting for X tons, which was near 57% of total exports in 2021. It was distantly followed by Kazakhstan (X tons) and Belarus (X tons), together creating a 42% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to vitamin exports from Russia stood at +38.0%. At the same time, Kazakhstan (+46.9%) and Belarus (+2.9%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +46.9% from 2012-2021. While the share of Russia (+39 p.p.) and Kazakhstan (+19 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Belarus (-59.8 p.p.) displayed negative dynamics.

In value terms, Russia ($X), Belarus ($X) and Kazakhstan ($X) were the countries with the highest levels of exports in 2021, together comprising 98% of total exports.

Russia, with a CAGR of +27.9%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2021, with a decrease of -22.5% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the export price increased by 33% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+14.8%), while the other leaders experienced a decline in the export price figures.

Vitamin Imports

Imports in CIS

In 2021, the amount of provitamins and vitamins imported in the CIS totaled X tons, increasing by 7.6% compared with the previous year. In general, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 42% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, vitamin imports reached $X in 2021. Overall, imports posted a strong expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 42% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in years to come.

Imports by Country

Russia dominates imports structure, finishing at X tons, which was approx. 88% of total imports in 2021. It was distantly followed by Belarus (X tons), achieving a 6.7% share of total imports.

Russia was also the fastest-growing in terms of the provitamins and vitamins imports, with a CAGR of +11.6% from 2012 to 2021. At the same time, Belarus (+3.3%) displayed positive paces of growth. While the share of Russia (+6.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Belarus (-5.8 p.p.) displayed negative dynamics.

In value terms, Russia ($X) constitutes the largest market for imported provitamins and vitamins in the CIS, comprising 88% of total imports. The second position in the ranking was taken by Belarus ($X), with a 7.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Russia stood at +10.8%.

Import Prices by Country

In 2021, the import price in the CIS amounted to $X per ton, surging by 2.2% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 15%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Belarus ($X per ton), while Russia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (-0.7%).

Source: IndexBox Platform

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