Greece: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Greece

The Greek medicaments containing vitamins market skyrocketed to $X in 2021, with an increase of 734% against the previous year. Over the period under review, consumption recorded buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Medicaments Containing Vitamins Production in Greece

In value terms, medicaments containing vitamins production declined to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 11% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Medicaments Containing Vitamins Exports

Exports from Greece

In 2021, overseas shipments of medicaments containing vitamins and provitamins decreased by -26.2% to X tons for the first time since 2015, thus ending a five-year rising trend. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 18% against the previous year. As a result, the exports reached the peak of X tons, and then declined dramatically in the following year.

In value terms, medicaments containing vitamins exports expanded slightly to $X in 2021. Over the period under review, exports, however, recorded a prominent expansion. The growth pace was the most rapid in 2013 when exports increased by 84%. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

France (X tons), Germany (X tons) and Romania (X tons) were the main destinations of medicaments containing vitamins exports from Greece, with a combined 69% share of total exports. These countries were followed by Cyprus, Spain, Italy, Ireland and the UK, which together accounted for a further 19%.

From 2012 to 2021, the biggest increases were recorded for Ireland (with a CAGR of +126.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Cyprus ($X) were the largest markets for medicaments containing vitamins exported from Greece worldwide, together comprising 44% of total exports. These countries were followed by Romania, Italy, Spain, Ireland and the UK, which together accounted for a further 18%.

In terms of the main countries of destination, Italy, with a CAGR of +86.8%, saw the highest growth rate of 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

In 2021, the average medicaments containing vitamins export price amounted to $X per ton, increasing by 38% against the previous year. In general, export price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +11.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the average export price increased by 72%. 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 Italy ($X per ton), while the average price for exports to France ($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 Italy (+28.2%), while the prices for the other major destinations experienced more modest paces of growth.

Medicaments Containing Vitamins Imports

Imports into Greece

In 2021, supplies from abroad of medicaments containing vitamins and provitamins decreased by -2% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +8.1% 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 +53.0% against 2018 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 46% against the previous year. Imports peaked at X tons in 2020, and then fell modestly in the following year.

In value terms, medicaments containing vitamins imports fell dramatically to $X in 2021. In general, imports recorded a deep contraction. The growth pace was the most rapid in 2016 when imports increased by 22%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), the Netherlands (X tons) and France (X tons) were the main suppliers of medicaments containing vitamins imports to Greece, together accounting for 86% of total imports. Romania, Italy, Denmark, Cyprus, Spain and the UK lagged somewhat behind, together comprising a further 11%.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +160.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of medicaments containing vitamins and provitamins to Greece, comprising 28% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 14% share of total imports. It was followed by France, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+8.9% per year) and France (-8.1% per year).

Import Prices by Country

In 2021, the average medicaments containing vitamins import price amounted to $X per ton, declining by -17.6% against the previous year. Overall, the import price recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 an increase of 14%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+10.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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