Czech Republic: Vitamin Market 2024

Vitamin Market Size in the Czech Republic

The Czech vitamin market rose modestly to $X in 2021, growing by 1.9% against the previous year. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +92.0% against 2016 indices. Over the period under review, the market attained the peak level in 2021 and is expected to retain growth in years to come.

Vitamin Production in the Czech Republic

In value terms, vitamin production shrank to $X in 2021 estimated in export price. Overall, production showed a pronounced slump. The growth pace was the most rapid in 2017 when the production volume increased by 178% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Vitamin Exports

Exports from the Czech Republic

In 2021, after two years of growth, there was significant decline in overseas shipments of provitamins and vitamins, when their volume decreased by -6.6% to X tons. Overall, exports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2013 with an increase of 138%. Over the period under review, the exports reached the peak figure at X tons in 2020, and then dropped in the following year.

In value terms, vitamin exports soared to $X in 2021. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 76%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

Austria (X tons), Poland (X tons) and Slovakia (X tons) were the main destinations of vitamin exports from the Czech Republic, with a combined 74% share of total exports. These countries were followed by Hungary, Russia, Germany, Denmark and Ukraine, which together accounted for a further 21%.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +65.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Slovakia ($X) and Austria ($X) constituted the largest markets for vitamin exported from the Czech Republic worldwide, together comprising 69% of total exports. Denmark, Germany, Hungary, Russia and Ukraine lagged somewhat behind, together accounting for a further 14%.

Among the main countries of destination, Denmark, with a CAGR of +91.3%, saw 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 24% against the previous year. In general, the export price saw a strong increase. The growth pace was the most rapid in 2014 an increase of 93%. The export price peaked in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Ukraine ($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 Poland (+25.4%), while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into the Czech Republic

In 2021, imports of provitamins and vitamins into the Czech Republic dropped remarkably to X tons, waning by -21.1% against 2020. Overall, total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 26% against the previous year. As a result, imports attained the peak of X tons, and then reduced sharply in the following year.

In value terms, vitamin imports totaled $X in 2021. Over the period under review, imports, however, recorded a resilient expansion. The growth pace was the most rapid in 2018 with an increase of 57% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

The Netherlands (X tons), Germany (X tons) and China (X tons) were the main suppliers of vitamin imports to the Czech Republic, together comprising 67% of total imports. These countries were followed by Poland, Israel, Austria, Slovakia, Belgium, France and Switzerland, which together accounted for a further 26%.

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 +63.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vitamin suppliers to the Czech Republic were the Netherlands ($X), Germany ($X) and Austria ($X), with a combined 45% share of total imports. These countries were followed by Poland, China, Israel, France, Slovakia, Belgium and Switzerland, which together accounted for a further 34%.

Poland, with a CAGR of +83.8%, 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

The average vitamin import price stood at $X per ton in 2021, rising by 42% against the previous year. Over the period under review, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Austria ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :