Dominican Republic: Vitamin Market 2024

Vitamin Market Size in the Dominican Republic

The Dominican vitamin market declined markedly to $X in 2021, with a decrease of -19.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.8% 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 +2.4% against 2019 indices. Vitamin consumption peaked at $X in 2020, and then contracted dramatically in the following year.

Vitamin Exports

Exports from the Dominican Republic

In 2021, the amount of provitamins and vitamins exported from the Dominican Republic soared to X tons, increasing by 68% on 2020 figures. Over the period under review, exports, however, saw a slight descent. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, vitamin exports soared to $X in 2021. In general, exports posted a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 77%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Cuba (X tons), Turks and Caicos Islands (X tons) and Haiti (X kg) were the main destinations of vitamin exports from the Dominican Republic, with a combined 56% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Cuba (with a CAGR of +102.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cuba ($X) emerged as the key foreign market for provitamins and vitamins exports from the Dominican Republic, comprising 49% of total exports. The second position in the ranking was held by Haiti ($X), with a 19% share of total exports. It was followed by the United States, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value to Cuba totaled +61.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+18.5% per year) and the United States (-10.8% per year).

Export Prices by Country

In 2021, the average vitamin export price amounted to $X per ton, stabilizing at the previous year. Overall, the export price, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2013 when the average export price increased by 109%. The export price 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 for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to El Salvador ($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 Honduras (+5,734.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vitamin Imports

Imports into the Dominican Republic

In 2021, overseas purchases of provitamins and vitamins decreased by -22.1% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2014 when imports increased by 71% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020, and then fell sharply in the following year.

In value terms, vitamin imports fell significantly to $X in 2021. Over the period under review, total imports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +2.9% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 48%. Over the period under review, imports hit record highs at $X in 2020, and then dropped remarkably in the following year.

Imports by Country

China (X tons), Germany (X tons) and Mexico (X tons) were the main suppliers of vitamin imports to the Dominican Republic, with a combined 43% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +17.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vitamin suppliers to the Dominican Republic were China ($X), Germany ($X) and Mexico ($X), together accounting for 43% of total imports.

Mexico, with a CAGR of +11.3%, recorded the highest growth rate of 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, growing by 5.1% against the previous year. Overall, the import price, however, saw a noticeable decrease. The growth pace was the most rapid in 2018 an increase of 20% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 the Netherlands ($X per ton), while the price for Guatemala ($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 Netherlands (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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