Europe: Vitamin Market 2024

Vitamin Market Size in Europe

The Europe vitamin market rose markedly to $X in 2021, picking up by 13% against the previous year. The market value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Vitamin Production in Europe

In value terms, vitamin production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 21%. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Vitamin Exports

Exports in Europe

For the third consecutive year, Europe recorded growth in overseas shipments of provitamins and vitamins, which increased by 12% to X tons in 2021. Total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.3% 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 +48.2% against 2018 indices. The pace of growth appeared the most rapid in 2020 with an increase of 31%. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, vitamin exports rose markedly to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.5% 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 +96.3% against 2015 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 37%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

The Netherlands (X tons) and Switzerland (X tons) were the largest exporters of provitamins and vitamins in 2021, reaching near 29% and 28% of total exports, respectively. The UK (X tons) ranks next in terms of the total exports with a 12% share, followed by Germany (8.7%), France (6.6%) and Belgium (5.7%). Spain (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the Netherlands (with a CAGR of +22.2%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Switzerland ($X) and the UK ($X) constituted the countries with the highest levels of exports in 2021, together comprising 64% of total exports.

In terms of the main exporting countries, the Netherlands, with a CAGR of +26.7%, 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

The export price in Europe stood at $X per ton in 2021, increasing by 2.7% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the export price increased by 26%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the export prices failed to regain momentum.

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 France ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+4.2%), while the other leaders experienced more modest paces of growth.

Vitamin Imports

Imports in Europe

In 2021, purchases abroad of provitamins and vitamins increased by 3.3% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.4% 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 +38.9% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 34%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, vitamin imports expanded slightly to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.2% 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 +49.1% against 2019 indices. The growth pace was the most rapid in 2020 when imports increased by 44% against the previous year. The level of import peaked in 2021 and is likely to continue growth in years to come.

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), the UK (X tons) and Poland (X tons) were the main importers of provitamins and vitamins, together making up 79% of total imports. The following importers - Russia (X tons), Denmark (X tons) and Romania (X tons) - together made up 8.2% 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 Netherlands ($X), Germany ($X) and France ($X) constituted the countries with the highest levels of imports in 2021, with a combined 48% share of total imports.

Among the main importing countries, the Netherlands, with a CAGR of +19.4%, saw 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 Europe amounted to $X per ton, standing approx. at the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 17%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Denmark ($X per ton), while Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform