Croatia: Vitamin Market 2024

Vitamin Market Size in Croatia

The Croatian vitamin market surged to $X in 2021, with an increase of 18% against the previous year. In general, the total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.7% 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 +50.5% against 2019 indices. Over the period under review, the market attained the maximum level in 2021 and is likely to see gradual growth in the near future.

Vitamin Production in Croatia

In value terms, vitamin production soared to $X in 2021 estimated in export price. Overall, production, however, saw a dramatic contraction. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Vitamin Exports

Exports from Croatia

In 2021, vitamin exports from Croatia reached X tons, with an increase of 13% compared with the year before. Overall, exports saw buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 103%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, vitamin exports surged to $X in 2021. Over the period under review, exports, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2014 with an increase of 87%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Poland (X tons), Slovenia (X tons) and Iran (X tons) were the main destinations of vitamin exports from Croatia, together accounting for 80% of total exports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +195.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vitamin exported from Croatia were Slovenia ($X), Iran ($X) and Poland ($X), with a combined 75% share of total exports.

In terms of the main countries of destination, Poland, with a CAGR of +113.4%, recorded the highest rates of growth with regard to the value of exports, 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, increasing by 28% against the previous year. In general, the export price, however, faced a abrupt decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by 160%. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Poland ($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 Bosnia and Herzegovina (+0.6%), while the prices for the other major destinations experienced a decline.

Vitamin Imports

Imports into Croatia

In 2021, purchases abroad of provitamins and vitamins increased by 8.9% to X tons, rising for the second consecutive year after three years of decline. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of 19% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, vitamin imports skyrocketed to $X in 2021. Overall, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.3% 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 +45.1% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of 26% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Slovenia (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of vitamin imports to Croatia, together accounting for 64% of total imports. These countries were followed by Poland, Italy, Hungary and China, which together accounted for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +110.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Slovenia ($X) and Germany ($X) were the largest vitamin suppliers to Croatia, together comprising 63% of total imports. Hungary, Poland, Italy and China lagged somewhat behind, together comprising a further 19%.

Hungary, with a CAGR of +79.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average vitamin import price amounted to $X per ton, rising by 12% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, vitamin import price decreased by -17.7% against 2018 indices. The pace of growth appeared the most rapid in 2018 an increase of 40%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+28.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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