Ireland: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Ireland

In 2021, after four years of growth, there was significant decline in the Irish medicaments containing vitamins market, when its value decreased by -10.9% to $X. Over the period under review, consumption, however, enjoyed resilient growth. Medicaments containing vitamins consumption peaked at $X in 2020, and then declined in the following year.

Medicaments Containing Vitamins Production in Ireland

In value terms, medicaments containing vitamins production soared to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a strong increase. The growth pace was the most rapid in 2013 with an increase of 105%. Over the period under review, production hit record highs in 2021 and is expected to retain growth in the immediate term.

Medicaments Containing Vitamins Exports

Exports from Ireland

In 2021, shipments abroad of medicaments containing vitamins and provitamins increased by 20% to X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2015 with an increase of 73% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, medicaments containing vitamins exports rose remarkably to $X in 2021. In general, exports, however, saw a sharp setback. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons), the United States (X tons) and Malaysia (X tons) were the main destinations of medicaments containing vitamins exports from Ireland, together accounting for 74% of total exports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +43.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) emerged as the key foreign market for medicaments containing vitamins and provitamins exports from Ireland, comprising 62% of total exports. The second position in the ranking was taken by the United States ($X), with a 19% share of total exports. It was followed by Malaysia, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value to the Netherlands amounted to +40.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-26.6% per year) and Malaysia (+1.5% per year).

Export Prices by Country

In 2021, the average medicaments containing vitamins export price amounted to $X per ton, reducing by -12.4% against the previous year. In general, the export price showed a abrupt decrease. The pace of growth was the most pronounced in 2017 an increase of 136% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Nigeria ($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 Denmark (+3.1%), while the prices for the other major destinations experienced mixed trend patterns.

Medicaments Containing Vitamins Imports

Imports into Ireland

In 2021, imports of medicaments containing vitamins and provitamins into Ireland declined dramatically to X tons, reducing by -57.5% against 2020. Over the period under review, imports recorded a mild downturn. The pace of growth was the most pronounced in 2016 when imports increased by 129%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, medicaments containing vitamins imports rose modestly to $X in 2021. In general, imports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2019 when imports increased by 57% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of medicaments containing vitamins to Ireland, with a 87% share of total imports. Moreover, medicaments containing vitamins imports from Italy exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold. The Netherlands (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy totaled +42.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+0.8% per year) and the Netherlands (+80.1% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of medicaments containing vitamins and provitamins to Ireland, comprising 58% of total imports. The second position in the ranking was held by Italy ($X), with a 23% share of total imports. It was followed by Sweden, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands amounted to +109.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+48.7% per year) and Sweden (+75.2% per year).

Import Prices by Country

In 2021, the average medicaments containing vitamins import price amounted to $X per ton, growing by 143% against the previous year. Overall, the import price enjoyed a resilient expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 the Netherlands ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+43.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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