India: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in India

The Indian medicaments containing vitamins market dropped dramatically to $X in 2021, which is down by -17.1% against the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Medicaments containing vitamins consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Medicaments Containing Vitamins Production in India

In value terms, medicaments containing vitamins production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 14%. Over the period under review, production reached the peak level at $X in 2020, and then shrank slightly in the following year.

Medicaments Containing Vitamins Exports

Exports from India

In 2021, overseas shipments of medicaments containing vitamins and provitamins were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, medicaments containing vitamins exports rose significantly to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 16%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Nigeria (X tons) was the main destination for medicaments containing vitamins exports from India, with a 13% share of total exports. Moreover, medicaments containing vitamins exports to Nigeria exceeded the volume sent to the second major destination, the Philippines (X tons), twofold. France (X tons) ranked third in terms of total exports with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Nigeria amounted to +1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+20.4% per year) and France (+24.0% per year).

In value terms, the largest markets for medicaments containing vitamins exported from India were Nigeria ($X), the UK ($X) and France ($X), with a combined 24% share of total exports.

France, with a CAGR of +25.6%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average medicaments containing vitamins export price stood at $X per ton in 2021, dropping by -28.4% against the previous year. Overall, the export price showed a perceptible decrease. The pace of growth appeared the most rapid in 2020 when the average export price increased by 11%. As a result, the export price attained the peak level of $X per ton, and then shrank remarkably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to the Netherlands ($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 Ghana (+2.0%), while the prices for the other major destinations experienced mixed trend patterns.

Medicaments Containing Vitamins Imports

Imports into India

In 2021, after two years of decline, there was significant growth in overseas purchases of medicaments containing vitamins and provitamins, when their volume increased by 14% to X tons. In general, imports, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 74% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, medicaments containing vitamins imports dropped to $X in 2021. Over the period under review, imports, however, continue to indicate a perceptible decrease. The pace of growth was the most pronounced in 2016 when imports increased by 53% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Sweden (X tons), the United States (X tons) and Switzerland (X tons) were the main suppliers of medicaments containing vitamins imports to India, together accounting for 66% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +119.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Sweden ($X) and Hungary ($X) were the largest medicaments containing vitamins suppliers to India, together comprising 52% of total imports.

In terms of the main suppliers, Sweden, with a CAGR of +72.1%, 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 average medicaments containing vitamins import price amounted to $X per ton, which is down by -19.1% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 33%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+20.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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