Finland: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Finland

The Finnish medicaments containing vitamins market dropped sharply to $X in 2021, which is down by -20% against the previous year. In general, consumption recorded a noticeable decrease. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Medicaments Containing Vitamins Production in Finland

In value terms, medicaments containing vitamins production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2013 when the production volume increased by 11%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Medicaments Containing Vitamins Exports

Exports from Finland

In 2021, overseas shipments of medicaments containing vitamins and provitamins decreased by -1.8% to X tons, falling for the fourth year in a row after two years of growth. Overall, exports saw a sharp decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 46%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, medicaments containing vitamins exports surged to $X in 2021. In general, exports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2017 with an increase of 81% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Australia (X tons) was the main destination for medicaments containing vitamins exports from Finland, with a 57% share of total exports. Moreover, medicaments containing vitamins exports to Australia exceeded the volume sent to the second major destination, Belgium (X tons), twofold. Ukraine (X kg) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2021, the average annual growth rate of volume to Australia totaled +42.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+17.8% per year) and Ukraine (+130.3% per year).

In value terms, Australia ($X) remains the key foreign market for medicaments containing vitamins and provitamins exports from Finland, comprising 54% of total exports. The second position in the ranking was held by Belgium ($X), with a 23% share of total exports. It was followed by Norway, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Australia totaled +53.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+27.0% per year) and Norway (+236.9% per year).

Export Prices by Country

In 2021, the average medicaments containing vitamins export price amounted to $X per ton, jumping by 20% against the previous year. In general, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 an increase of 25%. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Ukraine ($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 Norway (+30.6%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Vitamins Imports

Imports into Finland

In 2021, after two years of growth, there was significant decline in supplies from abroad of medicaments containing vitamins and provitamins, when their volume decreased by -17.7% to X tons. Over the period under review, imports recorded a mild setback. The pace of growth was the most pronounced in 2017 when imports increased by 27%. Over the period under review, imports reached the peak figure at X tons in 2020, and then plummeted in the following year.

In value terms, medicaments containing vitamins imports plummeted to $X in 2021. Overall, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 18%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Sweden (X tons), Germany (X tons) and Denmark (X tons) were the main suppliers of medicaments containing vitamins imports to Finland, together accounting for 93% of total imports.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +3.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest medicaments containing vitamins suppliers to Finland were Sweden ($X), Germany ($X) and Denmark ($X), with a combined 87% share of total imports.

Among the main suppliers, Sweden, with a CAGR of -2.5%, 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 a decline.

Import Prices by Country

In 2021, the average medicaments containing vitamins import price amounted to $X per ton, with a decrease of -4.6% against the previous year. Overall, the import price showed a drastic downturn. The most prominent rate of growth was recorded in 2013 an increase of 7.3% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Denmark ($X per ton) and France ($X per ton), while the price for Germany ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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