EU: Vitamin Market 2024

Vitamin Market Size in the EU

The EU vitamin market stood at $X in 2021, picking up by 15% against the previous year. The market value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Vitamin Production in the EU

In value terms, vitamin production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when the production volume increased by 16% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Vitamin Exports

Exports in the EU

In 2021, overseas shipments of provitamins and vitamins decreased by -4.6% to X tons for the first time since 2018, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +2.9% 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 2020 with an increase of 28% against the previous year. As a result, the exports reached the peak of X tons, and then declined slightly in the following year.

In value terms, vitamin exports reached $X in 2021. Total exports indicated a perceptible increase 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, exports increased by +44.5% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 36% 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 near future.

Exports by Country

The Netherlands was the largest exporter of provitamins and vitamins in the European Union, with the volume of exports recording X tons, which was approx. 49% of total exports in 2021. Germany (X tons) ranks second in terms of the total exports with a 15% share, followed by France (11%), Belgium (9.6%) and Spain (4.8%). The following exporters - Poland (X tons) and Italy (X tons) - each recorded a 4.5% share of total exports.

The Netherlands was also the fastest-growing in terms of the provitamins and vitamins exports, with a CAGR of +22.2% from 2012 to 2021. At the same time, Poland (+13.8%), Spain (+9.0%) and Italy (+3.0%) displayed positive paces of growth. France experienced a relatively flat trend pattern. By contrast, Belgium (-2.1%) and Germany (-9.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Netherlands and Spain increased by +38 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest vitamin supplier in the European Union, comprising 43% of total exports. The second position in the ranking was held by France ($X), with a 15% share of total exports. It was followed by Germany, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the Netherlands stood at +26.7%. The remaining exporting countries recorded the following average annual rates of exports growth: France (+4.1% per year) and Germany (-8.6% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, growing by 11% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2018 an increase of 20% against the previous year. The level of export peaked in 2021 and is likely to see steady 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 Italy ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+4.6%), while the other leaders experienced more modest paces of growth.

Vitamin Imports

Imports in the EU

In 2021, purchases abroad of provitamins and vitamins increased by 4.1% to X tons, rising for the second year in a row after two years of decline. Total imports indicated a remarkable increase from 2012 to 2021: its volume 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. Based on 2021 figures, imports increased by +42.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 37% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, vitamin imports expanded slightly to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.4% 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 +54.3% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 48%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

In 2021, the Netherlands (X tons), distantly followed by Germany (X tons), Belgium (X tons), France (X tons), Spain (X tons), Italy (X tons) and Poland (X tons) represented the major importers of provitamins and vitamins, together making up 84% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +16.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vitamin importing markets in the European Union were the Netherlands ($X), Germany ($X) and France ($X), with a combined 56% share of total imports.

Among the main importing countries, the Netherlands, with a CAGR of +19.4%, recorded the highest rates of growth with regard to 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

The import price in the European Union stood at $X per ton in 2021, leveling off at the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 17% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Germany ($X per ton) and Italy ($X per ton), while Belgium ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+2.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :