Eastern Europe: Vitamin Market 2024

Vitamin Market Size in Eastern Europe

The East European vitamin market expanded sharply to $X in 2021, surging by 8% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% 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 +23.3% against 2019 indices. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Vitamin Production in Eastern Europe

In value terms, vitamin production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% over the period 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 2017 with an increase of 37%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Vitamin Exports

Exports in Eastern Europe

In 2021, overseas shipments of provitamins and vitamins increased by 13% to X tons, rising for the second year in a row after two years of decline. In general, exports continue to indicate a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 62% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, vitamin exports soared to $X in 2021. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 59% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Poland represented the major exporting country with an export of around X tons, which amounted to 51% of total exports. Slovakia (X tons) held the second position in the ranking, distantly followed by Russia (X tons), the Czech Republic (X tons) and Latvia (X tons). All these countries together held near 33% share of total exports. The following exporters - Hungary (X tons) and Lithuania (X tons) - each recorded an 8.2% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to vitamin exports from Poland stood at +13.8%. At the same time, Slovakia (+51.0%), Russia (+38.0%), Latvia (+25.8%), Hungary (+18.7%), the Czech Republic (+9.4%) and Lithuania (+2.5%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +51.0% from 2012-2021. While the share of Slovakia (+13 p.p.), Russia (+6.2 p.p.) and Latvia (+3.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the Czech Republic (-2.5 p.p.) and Lithuania (-6.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X), Slovakia ($X) and the Czech Republic ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 75% of total exports.

Slovakia, with a CAGR of +39.0%, recorded the highest growth rate of the value of exports, in terms of 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 Eastern Europe stood at $X per ton in 2021, rising by 24% against the previous year. In general, the export price recorded a buoyant increase. The most prominent rate of growth was recorded in 2018 an increase of 26% against the previous year. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in the near future.

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 the Czech Republic ($X per ton), while Latvia ($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 Czech Republic (+15.4%), while the other leaders experienced more modest paces of growth.

Vitamin Imports

Imports in Eastern Europe

In 2021, approx. X tons of provitamins and vitamins were imported in Eastern Europe; growing by 1.8% on the previous year. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.9% 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 +36.9% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 34%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, vitamin imports totaled $X in 2021. Over the period under review, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 32%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Poland (X tons) and Russia (X tons) represented the largest importers of provitamins and vitamins in 2021, amounting to approx. 31% and 29% of total imports, respectively. Romania (X tons) held the next position in the ranking, followed by Hungary (X tons) and the Czech Republic (X tons). All these countries together held near 24% share of total imports. The following importers - Slovakia (X tons) and Latvia (X tons) - each amounted to a 6.2% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Latvia (with a CAGR of +11.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Poland ($X) and the Czech Republic ($X) constituted the countries with the highest levels of imports in 2021, with a combined 69% share of total imports. These countries were followed by Slovakia, Hungary, Romania and Latvia, which together accounted for a further 21%.

In terms of the main importing countries, Slovakia, with a CAGR of +22.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, increasing by 10% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2018 when the import price increased by 16%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Slovakia ($X per ton), while Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+11.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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