Iran: Vitamin Market 2024

Vitamin Market Size in Iran

In 2021, the Iranian vitamin market decreased by -5.9% to $X, falling for the third year in a row after seven years of growth. Overall, consumption, however, enjoyed a prominent expansion. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Vitamin Exports

Exports from Iran

In 2021, the amount of provitamins and vitamins exported from Iran fell to X tons, with a decrease of -10.1% compared with the previous year's figure. Over the period under review, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2015 when exports increased by 373% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, vitamin exports dropped sharply to $X in 2021. Overall, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 269% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Austria (X kg) was the main destination for vitamin exports from Iran, accounting for a 69% share of total exports. Moreover, vitamin exports to Austria exceeded the volume sent to the second major destination, India (X kg), fivefold. The third position in this ranking was taken by Tajikistan (X kg), with a 7.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Austria totaled -11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-13.4% per year) and Tajikistan (-30.2% per year).

In value terms, Austria ($X) remains the key foreign market for provitamins and vitamins exports from Iran, comprising 80% of total exports. The second position in the ranking was held by India ($X), with an 8.2% share of total exports. It was followed by the UK, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value to Austria amounted to -9.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-20.5% per year) and the UK (0.0% per year).

Export Prices by Country

In 2021, the average vitamin export price amounted to $X per ton, dropping by -6.7% against the previous year. Overall, the export price, however, posted a modest expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 114% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Tajikistan ($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 Zambia (+67.7%), while the prices for the other major destinations experienced mixed trend patterns.

Vitamin Imports

Imports into Iran

In 2021, overseas purchases of provitamins and vitamins decreased by -11.7% to X tons, falling for the third consecutive year after three years of growth. In general, imports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2017 when imports increased by 56% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, vitamin imports fell to $X in 2021. Over the period under review, imports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2013 when imports increased by 64% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), France (X tons) and Luxembourg (X tons) were the main suppliers of vitamin imports to Iran, with a combined 45% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +19.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vitamin suppliers to Iran were Germany ($X), Luxembourg ($X) and France ($X), with a combined 38% share of total imports. China, India, Turkey, the United Arab Emirates, Canada, Italy and Belgium lagged somewhat behind, together comprising a further 28%.

Turkey, with a CAGR of +28.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vitamin import price stood at $X per ton in 2021, with an increase of 8% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2021: its price 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, vitamin import price increased by +36.1% against 2017 indices. The growth pace was the most rapid in 2015 an increase of 29%. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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